GT Capital Holdings Corp. will invest in used car inspection and warranty business in partnership with Premium Group of Japan.
The company said the venture will be done through its 47-percent owned joint venture GT Mobility Ventures Inc. (GTMV) with Mitsui & Co., which is also GT Capital’s vehicle for its used car business announced last year.
The company is investing P32.7 million for the venture.
GT Capital last year announced putting up an auction house for second- hand cars through GTMV who partnered with Japan Bike Auction Co. Ltd. (JBA) for the business.
Carmelo Maria Luza Bautista, GT Capital president, earlier said the used car business is a natural extension of the group’s Toyota distributorship business, whose unit Toyota Philippines Inc. is the top care distributor in the country.
Metropolitan Bank and Trust Co., GT Capital’s lending arm, is also one of the largest car loan providers in the Philippines.
