Truebil bets big on used-car market growth, looks to grow 5x this year
Currently, the start-up is enjoying Rs 30 crore of revenue every month while GMV (gross merchandise value) is around Rs 40 crore.
- These are few of the crucial analytical tools used by online marketplace Truebil.com, which sells used cars.
- Currently we are doing Rs 30 crore of revenue every month while GMV (gross merchandise value) is around Rs 40 crore.
- Presently, more than half of India's used car market is unorganized, where the seller is either a roadside garage owner or an acquaintance of the buyer.
- India's used-car market is collectively worth over Rs 20,000 crore, which is estimated to grow to Rs 50,000 crore by 2022 as per IBB.
- According to Bansal, though new cars are growing in single digit, used cars are growing at 12-15 percent every year, fuelled by first-time car-owners.