Droom adds 'new vehicles' segment to its business*
Droom, India’s pioneering online automobile transaction marketplace, has announced its foray into the new vehicles’ segment, after building tremendous consumer trust in the pre-owned vehicles’ space. With this step, Droom firmly cements its market leadership position in the overall automobile space in India.
Droom’s new vertical is being launched in time for the festive season and will definitely add value to those looking to invest in their dream vehicles at this time.
Droom is further sweetening the user experience through unique benefits which would include bank loan of 50% of vehicle value pre-approved, door-step test drive and a slew of other goodies to various gift vouchers, a part of this new category. Droom has already tied up with major brands such as Nissan, Chevrolet, Skoda, Mahindra and Hero Electric for its new vehicle category. Currently, automobiles from all the other brands except Mahindra are available in Delhi-NCR region. In fact, Droom facilitates buy/sell of Mahindra vehicles on a Pan-India basis.
Commenting on the announcement, Mr. Sandeep Aggarwal - Founder and CEO, Droom said, “After 18 months of successfully selling 30k used vehicles and generating a revenue of INR 1,200 crores annualized GMV and growing 700% 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 now 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.”
To reduce the paperwork involved in getting loan for its customers, Droom is keeping the loan approval process much shorter than banks. The pre-requisites for loan application include the proof of Indian citizenship, birth/age proof for verification as an adult, 18 months of service/profession/business history and a government photo-id.
In addition to short loan process, Droom will also be giving away new iPhone 7 and iPad in the initial phase of launch. The new automobiles are sold at Droom with basic listing prices and qualify the Droom Orange Book Value Excellence evaluation parameters.
Droom already handles 50% of the online target-user traffic generated in the automotive space currently. 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.
*This story is an advertorial
