Autoportal becomes the largest automotive marketplace in India
Autoportal, an online marketplace for automobiles, has become the largest platform in its segment, transacting the highest number of cars as comparead to any other dealership in India. Autoportal has successfully completed more than 4500 transactions in the last three months, with participation from 500 plus dealerships across 18 cities.
“We aim at scaling the business to 100 cities by December 2017. With today’s customer who searches 75% of the time online, out of which 65% is on smartphones, this does not look like a distant dream. With strong Internet penetration in India and substantial back-end technology, Autoportal has bagged many happy customers,” says Sagar Das, co-founder, Autoportal.
Citing the projected growth of the industry, Anton Rublevskyy, co-founder, added, “Automobile production has grown at a CAGR of 10.5% between FY 2005 and 2015 in India, and the industry accounts for 7.1 percent of the country’s Gross Domestic Product (GDP). In the coming years, the competition is bound to get tough and Autoportal is sure to make a significant difference in the car buying process, reports ANI.
”As per the Automotive Mission Plan 2016-26, the Indian automotive sector has the potential to generate up to USD 300 billion in annual revenue by 2026, thus creating 65 million additional jobs and contributing to over 12 percent of India’s GDP. The business model of Autoportal assists a customer from car research to delivery of the vehicle, where it charges commission to the dealer based on sales, as opposed to the traditional leadbased model. The seller in this model is the authorised dealer outlet that delivers the car to the customer. “The whole experience for the customer is smooth and hassle free, where Autoportal stays in touch and assists the customer till the last mile, giving him full transparency on the fair market price, model inventory available and details on the delivery process. All the end-to-end processes happen through strong technology tools and efficient data management,” explained Das.The portal has built an ecosystem, wherein a customer can discover and decide about the car depending on his need and budget, through various car research tools on the website.
“Strategically, the portal offers a compelling content model in the form of videos; text reviews and 360 degree views to create a defensible system, thus helping the customer buy better. Autoportal has more than 8 million unique visitors on its platform per month and the organic traffic is growing on a monthly basis”, says Das. Apart from Autoportal.com, the parent company, Creative Web Media Pvt. Ltd., also holds Bikeportal.in, which is built to capture bike-specific audience.