Droom launches month long Auto Festival after clocking a GMV of INR 104 Crore
Droom, founded in April 2014 in Silicon Valley, is India’s first mobile marketplace to buy and sell new and used automobiles. droom is a completely innovative and disruptive approach to how automobiles should be bought and sold online.
As per the latest reports, online marketplace for used automobiles and auto services Droom has said it will spend Rs 10 crore towards marketing, as it launches a month-long auto festival. This announcement came in after the Gurgaon-based company announced that it had clocked monthly gross merchandise value (GMV) of Rs 104 crore over the last 19 months.
Speaking on the occasion Rishab Malik, co-founder and vice president – Business Development, Droom, mentioned,
“Droom is currently receiving 5,000 orders a month, which includes vehicle purchase and automobile-related services. With Dhanteras and other auspicious occasions just around the corner, we expect to drive consumer demand by 30 per cent-35 per cent this month,”
He further added,
“With the rise in disposable income, we have seen the demand of vehicles in every household is increasing. Consumers want more for less and increasingly prefer pre-owned vehicles over new vehicles, as it allows them to purchase a premium vehicle within the same price range,”
To add to this, Sandeep Aggarwal, chief executive of Droom mentioned,
“At a time when the auto industry has witnessed new vehicle sales improve by 9 per cent Y-O-Y and used-vehicle segment pick up by 15 per cent Y-O-Y while the e-commerce companies register a growth rate of 35 per cent Y-O-Y, Droom has been able to 700 per cent Y-O-Y growth,”
This appears to be a great move by the startup and is expected to take up the GMV even higher.