Used Car & Used Bike Industry
? Over 5.5 million transactions of used cars and bikes annually
? Over 80% transactions in unorganized and peer-to-peer trade
? High degree on information asymmetry in terms of the correct price of transaction
Consumer needs: current trends and needs
? Consumers tend to check with family, friends and acquaintances for gauging the right price
? Lack of standard pricing index for used cars and bikes. No benchmarking price tool available
? Due to high asymmetry in price information, consumers often get a raw deal
? Need for a trusted third party price guidance available at the point of transaction
eBay Motors India introduced Pricebook
? India’s first Used Car & Used Bike city specific pricing tool, updated on a regular basis
? Pricebook accessible over the mobile phone and the internet
o Using very lightweight web-based PriceBook Widget to submit the vehicle details and their mobile number
o Consumers get the price response as an SMS within 10 secs
eBay Motors Pricebook
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