“At Autodealz.in, we ensure complete peace for mind of our customer. Our service does not end only with a vehicle transfer. Instead, we also support the customer with post-purchase queries,” says Hemanth Kumar, CEO, Autodealz.in in an exclusive interview with Sudheer Goutham of Elets News Network. Autodealz.in is an online platform to buy pre-owned two-wheeler vehicles.
Kumar has over 20 years of experience in the Indian automobile industry, including setting up a new business in previous roles. Before setting up Autodealz, he has worked with renowned companies, such as AMW (Asia Motor Works), Mahindra & Mahindra, Escorts and Lumex India.
What was the idea that led to the establishment of Autodealz.in?
The idea came with a simple thought of providing a platform where customer can buy preowned bikes without having any insecurities related to the mechanical condition or documentation issues.
People don’t trust current conventional options such as classifieds or unorganised brokers because they have heard so many incidences of cheating or frauds. Also, dealing with strangers on classified sites is not all secure and make many customers uncomfortable. Besides, unorganised broker prefers to deal in undocumented cash transactions and does not maintain good transparency,especially related to vehicle performance or defects.
What is the vision of Autodealz.in?
Here at Autodealz.in, we ensure complete peace for mind of our customer. Our service does not end only with a vehicle transfer. Instead, we also support the customer with post-purchase queries.
Our vision to become a leader and the most trusted player in the pre-owned automobile space. We are committed to commencing a new wave in the mobility services of India.
With our close understanding of the automobile market and transactional patterns, we aim to bring the required structure and confidence in automotive experience for Indian customers. We believe in abiding by the transparent business dealings with absolute integrity and honesty.
How are the services and solutions of Autodealz.in is different from the rest in the market?
Our honesty and transparent process make us unique in the pre-owned market. We only perform a legitimate transaction by completing all necessary due diligence before buy or selling a vehicle. We are the only player who provides a GST invoice at the time of a purchase, which allows our customer to pay by any legal means. We offer extended service warranty, GST Invoice/bill, buyback guarantee, genuine money receipts and vehicle transfer agreements. Our process does not leave any chance of coincidental fraudulence, which is prevalent within other conventional options in the market.
Tell us about the cutting edge technology that Autodealz.in has used and plans to use for its functioning and customer reach?
We are using our internal proprietary tool, which makes our pricing system very methodical. Conventionally the pricing part is very erratic and used to change customer to customer. Our simple algorithm based on Year, Model, Condition and Mileage provides transparency for both buyers and sellers. This tool also enables us to cater the backend funnel recurring revenues through periodic services and insurance renewal, etc.
Tell us about the size and strength of your organisation.
Right now we are operating with one store located in the heart of the city on Old Mumbai Highway near Ameerpet. Soon we will be opening up stores in Vijaywada and Vizag. We are excited with the initial customer response and business performance. Currently, we have a head count of more than 15 people, including eight sales associates who sell more than 50 bikes in a month, which usually double during festival season.
What are the innovations taken up by Autodealz.in?
The innovation lies in the process change, which enables us to serve the millennials with desired speed and trust. Millennials are experimenting in approach. However, that does not mean they would settle on poor service or low-quality experience. For example, we are frequently visited by couples, families and single women buyers, which is a rare sight in other conventional options.
What are the plans in pipeline for the next five years or more?
We have doubled our projections based on our first-year experience. We see an upsurge in the preowned bike market, and the survey indicates the sale of 1.5 pre-owned bikes over the purchase of one new bike. Therefore, we need to increase our inventory to cater to the demand. Perhaps, our upcoming stores in Hyderabad will have the quadruple capacity for inventory management. We also see great value in multi-state store network as well, which will further add more convenience to our mobile customers who face challenges in selling or exchange other state vehicles. Five years down the line, we visualise our stores in all the major A and B class cities in the South and West India. Also, current challenges are not two-wheeler market-specific; therefore, we see ourself entering into other segments too shortly.