To bring trust in second hand sale and purchase in India, Droom, India’s online automobile transactional marketplace, has launched ECO mobile based auto inspection app. The app, which was launched in association with Carnation Auto, is meant to improve the transparency as well as the trust factor associated with buying and selling used automobiles. Unfortunately, market for second hand vehicles in India is huge but it is totally disorganised and there is huge trust deficit. To address this problem, ECO app has been launched in India which can be downloaded for Android devices from Google Playstore.
The ECO app will enable sellers to schedule comprehensive inspections of their cars or bikes which they want to to sell from highly trained and certified professionals – called Ninjas – through its platform. The ECO Ninja then performs an auto inspection using Droom’s proprietary methodology and covers an exhaustive list of all the important points in a vehicle to generate a comprehensive auto inspection report. This digital report will be made available to the buyers while viewing the vehicle, empowering them with the knowledge to make the most informed decisions. Droom’s partnership with Carnation will also allow ECO users access to Carnation’s extensive network of workshops and skilled technicians.
Droom will charge nominal fee for inspection of the vehicles by their Ninjas which will be Rs. 248 in the case of a bike and approximately Rs. 500 for a car. In the event of selling a vehicle on its platform, Droom will charge nominal fee of 1.5% from the seller only.
Speaking on the launch, Sandeep Agarwal, CEO and Founder, Droom, said, “Unlike US, Western Europe and Japan, India is low trust market in general and buyers for used automobiles suffer from information asymmetry and moral hazard. In India, buying a used automobile is full of pain points, hassles and pitfall. With Eco launch, Droom has deepened its commitment to increase trust and transparency for used automobile transactions in India. Eco is India’s most scientific, comprehensive objective and unbiased automobile inspection and verification service. We are very excited to have Carnation as our partner for Eco as it is very complementary with Carnation experts around the nation now using the most scientific and powerful tool to protect buyers’ interest.”
In his acknowledgement to the ECO initiative and Carnation’s partnership with Droom, Jagdish Khattar ex-CEO of Maruti India and now Managing Director, Carnation Auto present at the launch said, “The used car sales continue to grow exponentially in India. The ECO app has the potential to reduce information asymmetry in pre – owned cars transactions. Carnation being the leader in the Car Inspection space, is extremely excited about partnering with Droom to power ECO for its launch across India. Together we will take selling and buying of used cars to the next level. This concept will leverage Technology to empower the automobile technicians and certification engineers- the real heroes of Make In India.”
Droom’s ECO app will enable automobile technicians to increase their consumer outreach and visibility. They can get enrolled with this app with simple procedure which requires a basic understanding of English, a smart device, technical skills and the mobility to travel from one place to another. The technicians can become ECO certified Ninjas through the tutorials on the app and make earnings of upto Rs. 30,000 per month as claimed by the company.
Droom ECO app can be downloaded at : https://play.google.com/store/