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Snapdeal Unveils Automobile Platform; Targets GMV Of $2 Bn In Next Two Years

Snapdeal Unveils Automobile Platform; Targets GMV Of $2 Bn In Next Two Years

Snapdeal has launched an exclusive automobile platform, Snapdeal Motors, which will offer  an integrated buying experience enabling online booking along with loan approvals within 2 minutes of the vehicle purchase. The platform will enable customers to browse through a variety of automobile options / variants, avail of test drives, book online, choose from a host of easy financing options and documentation support. The O2O platform to offer integrated product experience with easy finance options through RupeePower.

The initiative comes as automobile category witnessed 20x growth in the last 12 months. Snapdeal is targeting a GMV of $2 Bn in next two years.

Snapdeal was the first online marketplace to introduce the Automobile category and has sold over 300,000 bikes since its launch on the basis of  partnership with Hero MotoCorp and others.

“With the introduction of the Snapdeal Motors, we are aiming to take this to the next level and provide our customers a holistic buying experience, marrying online and offline retail channels. This is going to be a very strong platform that we believe should clock over $2 Bn in sales over the next two years,” Tony Navin, Senior Vice President, Partnerships and Strategic initiatives said.

Currently, Hero MotoCorp and Piaggio are available on this platform at launch, and automobiles from Mahindra, Suzuki Motorcycles and Datsun will be available soon. The platform has been designed to facilitate easy exploration and discoverability of products from the listed brands. Once customers have selected their preferred automobile model, they can choose dealers on the basis of proximity and estimated delivery date.  Customers will have to pay a nominal booking amount on the platform and will have access to various financing options as well. Snapdeal Motors will also provide a ‘Test Drive at Home’ and ‘Door Step Delivery’ option for customers in the coming weeks.

Anand Chandrasekaran, Chief Product Officer at Snapdeal said, With Snapdeal Motors, we are bringing together the benefits of ecommerce including convenience and deep assortment. With industry specific content and features including auto loans and exclusive auto partnerships, we will move the needle on how ecommerce impacts our users’ lives.”

Recently, Gurgaon-based online automobile marketplace, Droom, has launched India’s first C2B (Consumer to Business) marketplace named QuickSell. QuickSell will enable the consumers to sell their used vehicles to auto dealers for quick turnaround of the transaction. With this new development, Droom now offers C2C, B2C and C2B in its marketplace.

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