Mon, Jan 23, 2017 | updated 10:19 PM IST

Droom announces foray into new vehicles segment

Updated: Sep 16, 2016 17:48 IST

New Delhi [India], Sep 16 (ANI): India's pioneering online automobile transactional marketplace Droom has announced its foray into the new vehicles' segment to firmly cement its market leadership position in the overall automobile sphere.

Popular as the country's premier used vehicle buying and selling platform, Droom's new vertical launch is just in time for the festive season and is sure to add to the ebullience of those looking to invest in their dream vehicles at this time of the year.

It is likely to bring unique innovations to the new category that will include a bank loan 50 percent of vehicle value pre-approved, door-step test drive and a slew of other goodies to various gift vouchers further to make the prospect of buying a new car from Droom more attractive.

Droom's far-sightedness and vision with its new automobile segment can be gauged from the fact that it has already tied up with major brands such as Nissan, Chevrolet, Skoda, Mahindra and the innovation powerhouse of e-vehicles, Hero Electric. Presently, automobiles from all the other brands except Mahindra are available in Delhi-NCR region while Droom facilitates buy/sell of Mahindra vehicles on a Pan-India basis.

"After 18 months of successfully selling 30k used vehicles and generating a revenue of Rs. 1200 crore annualized GMV and growing 700 percent year on year, we are proud to finally be a part of the new vehicle market. Earlier we wanted to focus on the used-vehicle segment and change the way it functions through the use of digital tools. In the same vein, we want to know create a paradigm shift in the still conventionally-run new vehicle sector and bring about a positive disruption for the benefit of the end consumer," said Founder and CEO Droom, Sandeep Aggarwal.

The new automobiles are sold at Droom with basic listing prices and qualify the Droom Orange Book Value Excellence evaluation parameters. Equipped with allied services such as instant auto loans and vehicle insurance, Droom is looking to set new benchmarks in the Indian automobile market with this foray. (ANI)