Droom, an online automobile transactional marketplace, has announced its foray into the new vehicles’ segment. The recent inclusion, empowers Droom to showcase wide range of automobiles on its lattice hence, making sure that the platform act as a one stop shopping destination for the automobile buyers and sellers.
Apart from providing automobiles to the desired customers, the company has also floated valuable extended services such as a bank loan 50 per cent of vehicle value pre-approved, door-step test drive and a slew of other goodies to various gift vouchers.
The company has already signed up a pact with some of the big players of the industry including Nissan, Chevrolet, Skoda, Mahindra and the innovation powerhouse of e-vehicles, Hero Electric. Presently, automobiles from all the other brands except Mahindra are available in Delhi-NCR region while Droom facilitates buy/sell of Mahindra vehicles on a Pan-India basis.
Commenting on the announcement, Sandeep Aggarwal, Founder and CEO, Droom said, “After 18 months of successfully selling 30k used vehicles and generating a revenue of INR 1200 crores annualized GMV and growing 700 per cent 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 know 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”.
In a bid to ensure buyers are not discouraged by loads of paperwork, Droom has tried to keep the loan approval process short. The pre-requisites for loan application involve proof of Indian citizenship, birth/age proof for verification as an adult, 18 months of service/profession/business history and a government photo-id.