What is the need for used vehicle pricing tool in Indian Automotive Industry?
Used vehicle trade in India has immense potential. However, used vehicle industry is highly fragmented and unorganized. There is high incidence of information asymmetry and lack of a standard pricing index for used cars and bikes. Large number of vehicle and regional parameters influence the price of used vehicle viz. model, model year, variant, location and vehicle condition. Lack of a standardized used vehicle pricing index compounds the uncertainty related to the transactions between buyers and sellers of used vehicles. There is no uniformity of the pricing guide data and hence there is ambiguity in arriving at final vehicle price. In such a scenario, there is pressing need for Used Vehicle Pricing Tool such as the eBay Motors Pricebook.
