In an attempt to broaden its suite of offerings, Truebil, the country’s leading omni-channel platform for buying and selling pre-owned cars has launched an online auction platform. Through this platform, Truebil aims to instantly connect buyers and dealers on a large scale and enable smooth buying and selling of pre-owned vehicles.
Truebil auction platform, Truebil buys cars from individual sellers and Trade-ins from the new car showrooms and sells these cars to the dealers. Dealers have to sign in to the app, view the vehicles and then bid accordingly. On this auction platform, Truebil currently conducts 200 transactions every month in every city and aims to scale up to 500 transactions every month in a city in next 3 months.
Commenting on the newly launched platform, Shubh Bansal, Co-founder & Marketing Head, Truebil said, “We have created this auction platform for dealers to connect with buyers, without incurring heavy marketing costs easily. This segment is growing at a fast pace, and we expect to sign up 1000+ dealers in all three cities by the end of July 2018. The auction app is sure to drive Truebil’s transactions and improve the supply of cars on the platform. We haven’t kept any restrictions on the mileage and age of the cars on the auction platform, as we believe we have developed a channel to offload any supply.”
Truebil has more than 500 dealers in Mumbai, 300+ dealers in Bangalore and over 200 dealers in Delhi. The company’s two-year-old inventory model, Truebil Direct, has contributed almost 50% of the company’s ARR share of over Rs 100 crore as of March 2018. Truebil’s newly launched auction platform is sure to drive more transactions and further reinforce the process of buying and selling pre-owned automobiles through this one-of-its-kind platform.