New Delhi/Chandigarh: B2B virtual marketplace Okshan, has forayed into the country’s used car market. Okshan connects new car dealers and used car brokers to enable buying and selling of used cars on its platform from the assured inventory on a real time basis.

Unlike other auction websites and classified websites that are consumer to business (C2B) or business to consumer (B2C) driven, Okshan is one of its own kind of marketplace which facilitates transactions between business to business (B2B).

The main USP of Okshan is that sellers can see real-time bidding and get an update when any consumer, dealer or broker lists a particular car on the platform, which is unlike any other platform in the country. Once the transaction is done, Okshan will charge a simple commission on it.

“Being into both used car and new car business for over 27 years, I feel there is a huge opportunity in the used car market. But at the same time, it is having its own challenges. To solve this, we are bringing a technology driven platform which is transparent, seamless and trustworthy.”

Ranjeev Dahuja
Founder and CEO, Okshan

“There is still a huge gap in the organized used car market if we look at current C2B and B2C business models as most of the time deals don’t happen even after the auction because there was no real inventory. With the help of technology, we are aiming to organise the used car market to do more transparent transactions of cars between dealers and brokers. Okshan will bring transparency in their existing used cars business and the stakeholders can keep an eye on this hidden gem,” he added.

“New car dealers that used car business generate revenue but at the same time profitability is low. WIth our platform, they can reduce manpower related costs and increase their margins, bring efficiency in rotation and having outlets to sell cars from different states plus get expertise in evaluation of their cars,” he further explained.

At present, Okshan is operating in Chandigarh, Punjab, Haryana, Delhi, Noida and Ghaziabad. With over 150 employees, Okshan has so far signed-up over 3000 brokers and 200 new car dealers on its platform. 

“Okshan aims to achieve a pan-India presence. We are aiming to become the first go-to platform for any used car transaction that takes place in the market. Our initial target is to capture North India within the first quarter of the ongoing fiscal year and then achieve nationwide presence by the end of FY2021-22”.

Anjani Mishra
COO, Okshan

Mishra further added that the platform’s target is to achieve 12,000-15,000 transactions every month nationally by the end of the first quarter of 2022. “Also, we will expand into South East Asian countries such as Indonesia, Malaysia, Vietnam and Thailand which are highly unorganized in the used car space.”

How does Okshan work?

  • Become an associate with Okshan
  • List your inventory and make an offer?
  • Place a bid on the used cars you wish to buy
  • Get a detailed inspection report
  • Get Transparent Details
  • Buy or sell cars at a fair price.

What Okshan Offers to New Car Dealers?

  • Live bidding can be viewed.
  • Low interest cost or stock holding cost.
  • Best market price guaranteed.
  • Less dependence on manpower.
  • Savings on manpower cost.
  • Payments directly into the company’s account, No cash transaction involved.
  • Fast liquidation of stock so less parking space required.
  • Get rid of the problem of price reduction due to late sale of old car stock.
  • Proper MIS of Cars sold on Okshan.com during the month with complete details.
  • Stock Visibility across India.
  • No physical showcasing of the car again and again in front of different customers.
  • Better use of infrastructure coz of faster movement of stock.
  • No litigation in case RC not transferred

What Okshan offers to Brokers?

  • Transparent and clear deals.
  • Huge range of cars available.
  • Live bidding can be viewed.
  • Proper detail of accounts for every car sold and bought on Okshan.
  • All India cars available in times to come.
  • Okshan takes care of registration and transfer etc.
  • Ready for delivery cars available. Negligible chance of Auction failure.
  • A clear channel for the communication with senior management for all the issues/ feedback.
  • A team of experts with rich experience in used cars will be available for proper guidance for fixation of Fair Market Value and other critical subject matters.
  • One point contact relationship manager will be assigned for all types of queries/issues.

About Okshan 

Okshan, a brand of Sanch Motors Private Limited, with vision to provide transparent online auction platform to the car dealers and used car traders across India with seamless experience in buying and selling of used cars.

About the Founder

Ranjeev Dahuja is a first generation entrepreneur and promoter of Berkley Group. He is a renowned personality in the automotive retail space. He has over 27 years of experience in the used car business, car finance and new car business. He was among the first Indian to launch a used car platform ‘Berkeley Automall’ in Panchkula in 2002.

With his diverse experience in the automotive space, Ranjeev Dahuja wants to establish a platform where all new car dealers, used car dealers and brokers can transparently sell and buy used cars.That will enable them to channelise new revenue streams at a much lower cost and hassle-free transaction.

At present Berkley Group is among India’s top 100 automobile dealers in India. The group also deals in financial services, securities and commodities trading, insurance broking, retail and real estate.

Also Read: Mahindra offers its customers India’s first one stop solution for vehicle scrapping

About the author

TEAMIU

Add Comment

Leave a Comment