Okshan, a brand of Sanch motors private limited, has launched India’s first and only B2B virtual marketplace for the used car market. It’s a service that connects new car dealers and used car brokers to enable buying and selling of used cars on its platform which functions on a real-time basis. This is quite unlike other auction websites or classified websites that are consumer-to-business (C2B) or business-to-consumer (B2C) driven.
What’s unique to 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. Once the transaction goes through, Okshan simply charges a commission on it. Currently, Okshan operates in Chandigarh, Delhi, Ghaziabad, Haryana, Noida, and Punjab with over 150 employees. The company has so far signed up over 3000 brokers and 200 new car dealers on its platform.
Okshan believes that its platform can target to achieve 12,000-15,000 transactions every month nationally by the end of the first quarter of 2022. The company will also expand into Southeast Asian countries such as Indonesia, Malaysia, Vietnam, and Thailand which are highly unorganized in the used car space.