Droom unveils OBV adoption survey; reports success as 77 pct respondents now rely on OBV

Online automobile transactional marketplace Droom has launched its first and only algorithm benchmark pricing engine for all categories of used vehicles, the Orange Book Value (OBV).

The OBV is the most comprehensive pricing engine, which is not limited to cars alone, but also covers a wide spectrum of vehicle categories including motorcycles, scooters, bicycles and planes - covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants for last 10-11 years.

It has already generated 95 million queries till date. As per the survey, nearly 77 percent respondents said that they rely solely on OBV to determine the pricing of their vehicles- a figure that stood at 50 percent pre-launch.

Interestingly, about 97 percent of customers now price their vehicles within the OBV range, highlighting the trust that they place in its impeccable technology and empirical results.

"The launch of Droom's OBV has been a landmark move for the Indian automobile industry. After painstakingly putting this revolutionary product together with the best team of experts, it is indeed heartening to see its phenomenal popularity. The survey clearly underlines that OBV has witnessed unprecedented acceptance in India thanks to its completely algorithm-based benchmark pricing and its unparalleled convenience," said founder and CEO Droom, Sandeep Aggarwal.