Mahindra First Choice Wheels Ltd. (MFCWL) has launched a brand new online-offline platform for vehicle auctioning. Named as True Time Bids, the new platform is designed to enhance the effectiveness and reach of vehicle auctions throughout the nation. The live online-offline auction platform is providing customers to join conventional ‘on the ground’ used-car auctions by using internet.
As per the official spokesperson, True Time Bids will fundamentally enhance effectiveness of how vehicle auctions are led in India today for the very first time. Main motto of the new platform is to combine both offline and online sale positions into one synchronous event.
By using the new platform, interested customer can bid for a car “on the ground” by being present at the sale area, or by bidding online. Bidders can access the live feed from the sale venue, which will show insights about the vehicles being sold and the present bids set. Additionally the platform also provides vehicle inspection and pricing analytics powered by Autoinspekt and Indian Blue Book. This will help the bidder to know the real information about the cars being auctioned.
According to the Senior Vice President of eBusiness at Mahindra First Choice Wheels, B Ganeshkumar, the collaboration with Kotak bank helped the pilot project to taste success and they are inching forward to launch the platform all over the India in next few weeks. Mahindra First Choice Wheels believes this programme will basically change the procedure of the auction of pre-owned cars in India. With the launch of ‘True Time Bids’, it seems Mahindra First Choice has got an edge in the used car market over its rival ‘Maruti True Value’.