Mahindra First Choice Wheels is India’s No. 1 multi-brand used car company. Last week the company announced that it had sold one lakh vehicles through its ‘Autobid’ auction platform which was formerly known as eDiig. The platform has conducted nearly 7,500 auctions with over 6,500 buyers across nearly 900 locations across the country, making it the leading used vehicle b2b platform in India.
In case you haven’t heard, Autobid is a world class auction platform that allows for immense flexibility in auction formats which provides excellent liquidity for sellers and buyers, producing the best vehicle values for either customer, with a high conversion rate. The one lakh actual transactions represent the number of vehicles sold through the platform and this scale is testament to the efficacy of the platform.
Nagendra Palle, CEO, Mahindra First Choice Wheels said, “Our platform offers complete transparency and end-to-end analytics to our corporate and dealer customers and I am confident that it will continue to grow rapidly in the coming years. The success of the auction platform illustrates the growing need for and adoption of the ‘bricks and clicks’ hybrid model by the used vehicle industry. We are looking forward to playing a key role in expanding this model over the next few years.”
