In an attempt of selling two-wheelers online, it was Snapdeal and Flipkart which took the initiative, now AskmeBazaar is the latest ecommerce player to taste the shores. The company launched two-wheeler sales in Pune last week and is currently selling Honda and Piaggio bikes on its website and will soon add Suzuki and Royal Enfield.
Kiran Murthi, CEO, AskmeBazaar, told a News bureau that it is their first extension into both products and services. Most automobile purchases require loan and insurance processing, vehicle registration, accessories etc, and the brand will provide end to end transactional services. He added that before rolling it out pan-India to the Top 30 cities, the company would focus on stabilising the model in Pune first, by June.
The company is currently working with local dealers, in place of manufacturers to process these sales. Murthi said that four orders had been placed within the first week, and while the actual transaction numbers would be relatively low, the average ticket size would be large given the category.
Over the last two years, the company has focused on the hyperlocal model which according to Murthi was working well for them. One reason for selecting Pune as the first market was that it is among the more successful hyperlocal markets for the company, and that it's a large market for two-wheelers. AskmeBazaar is working to sign on more auto dealers, spare parts suppliers and loan and insurance companies as it tries to create the entire ecosystem needed to service this category.
AskmeBazaar would be focusing on two-wheelers for the predictable future and would explore the option of adding four-wheelers closer to the end of the year. The automobile industry in India has the potential to generate up to $300 billion in annual revenue by 2026 as per the Automotive Mission Plan 2016-26, a roadmap prepared jointly by the Government of India and Society of Indian Automobile Manufacturers (SIAM).