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According to Nagendra Palle, CEO, Mahindra First Choice Wheels said, "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 and the efficiency of our team."
The company is working on launching a series of products and value added services to support the used vehicle market. It has recently launched two value added services, 'AutoInspekt', its vehicle evaluation service, and 'IBB', which provides pricing guidance for buyers and sellers.
As part of the eCommerce platform offering, the company said that the dealers can look forward to new products such as certification, warranty, insurance and financing in the future.
