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Droom, an online marketplace for automobiles, has launched 'Droom History' which will provide prospective second-hand vehicle buyers a comprehensive report on the product's background. "Droom History is an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle's background. "Generated using our proprietary technology, the report will address issues related with a vehicle's safety, trust, and value," Droom Founder and CEO Sandeep Aggarwal told reporters here. He added that unlike the US and Western Europe, India is a low trust market, especially for used automobiles. "Many aspects of a pre-owned vehicle, such as ownership history, title dispute, and vehicle-related issues, are non-reliable. This is largely due to the unavailability of verified information about a pre-owned vehicle," he said. With Droom History, there will be an information repository for used vehicles and will help foster greater trust and transparency in the used automobile segment, he said. Droom History will have information about more than 19 crore private and commercial vehicles like cars, two-wheelers, taxi and trucks in its database with real-time information of nearly 6 million vehicles from the Delhi-NCR region alone. During the first phase of the launch, Droom will put up listings with valid RC numbers on its platform.
The front-end will also be soon opened to users, giving them access to the most accurate, real-time information about used vehicles. Users will have to enter the vehicle's VIN or registration number and check for availability of the report. If the vehicle report is available in Droom's database, it will be sent to their registered email address. "The information can then be leveraged by users to make better purchases, ensuring the security of their investment and offering them peace of mind while purchasing a used vehicle," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)