September 28, 2006
eBay India Motors Marketplace, the leading online B2B Motors marketplace, announced a significant milestone achieved by the sale of the 100,000th vehicle on the eBay India Motors platform. Mr. Rajan Mehra, Country Manager, New Ventures & Payments, eBay India, today commemorated the occasion by felicitating the Delhi-based buyer and seller who completed this landmark transaction. Mr. Rana Rekhi of Rana Motors sold a 1996 model Maruti 800 to Mr. Anil Sethi of Sethi Motors on September 23, 2006.
At the occasion, eBay India Motors announced its foray into the fast growing tractor segment, aimed at targeting rural entrepreneurs by providing them with a liquid marketplace and access to a large inventory of vehicles and a wide network of dealers to trade with across geographies. The unique Motors B2B marketplace addresses a Rs. 9000 crore market opportunity.
Addressing the conference, Mr. Rajan Mehra, Country Manager, New Ventures & Payments, eBay India said, "We are proud to announce the sale of the milestone 100,000th vehicle as it connotes the strong dealer network and a wide reach that the platform has been able to garner with time. We would like to take this opportunity to thank all our dealers for their continued support and trust in us."
Mr. Mehra elaborated, "In a fragmented market like India, we have been successful in addressing the needs of the corporates and dealers. We plan to extend our platform to the tractors segment to further grow our reach and empower the rural entrepreneurs. This is in keeping with the larger eBay purpose of empowering entrepreneurs around the world. "
eBay Motors has been successful in addressing the inefficiencies existing in the market by creating a transparent and liquid wholesale market. The growth has been manifested by the response from the B&C cities, which forms a large percentage of the 6000 pre approved dealer network spread across 125 towns and cities in India. Over 50 institutional sellers sell Commercial Vehicles, 4 wheelers and 2 wheelers. On any given day, 450 vehicles are auctioned and a vehicle sells ever 8 minutes.
eBay India Motors provides free training to interested dealers through eBay Motors Academy, conducted across India. The academy comprises of buyer-training programs to inform the participants about the opportunity, benefits & processes of buying on eBay India. In addition, there is phone based training and even regional language online animated tutorials in Hindi, Malayalam, Tamil & Bengali.
About eBay India Motors
eBay India Motors is the leading online marketplace for sale of second hand cars, bikes & commercial vehicles in India. It is a B2B Motors Marketplace where corporates, financial institutions, large dealers and fleet owners sell vehicles to automobile dealers across the country. This unique marketplace was founded in 2002 as part of Baazee.com (now eBay India).
eBay India Motors hosts online auctions for the sale of vehicles in a transparent and auditable manner on http://b2bmotors.eBay.in. eBay India Motors’ strength lies in its dealer base of over 6000 dealers, who are registered to buy on the platform, across 125 cities. The B2B Motors Marketplace on eBay India, is an independent and neutral platform, which provides a level playing field to all buyers on the platform, thereby eliminating intermediary costs along with a reduction in holding costs and turnaround time.
About eBay.com
Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world. Through an array of services, such as its payment solution provider PayPal, eBay is enabling global e-commerce for an ever-growing online community. eBay is The World's Online Marketplace®.
