Selling Process Re-Organized to Latest
      Trends & Requirements for
      Automobile Segment
IDENTIFICATION
      Feet on street activity / Telemarketing activity / Dealer Seminars / Dealer Association’s meetings / ...
PROCESS STEP                        DESTINATION
SOURCE
TMF                                                                ...
eDiig will Intimate
                                             Dealers to Collect
 TMF Gives List to    the Dealers abou...
eDiig Will Monitor       Dealers are given
  Auction LIVE –
                                              required assista...
Buyers will make    eDiig will follow-up
eDiig Intimates the
                                           regularly with the...
Payment follow up and ensuring fulfillment is a very important part in auction process.
 In eDiig, we have an effective an...
 There are around 300 vehicle models which are available in used market from 35 different manufacturers
 Out of the 300 ...
 Strategy for selling, where vehicles are unregistered or do not have RC
      1) Formulate a four way tie –up between eD...
eDiig Business Adjacencies
eDiig has also stepped into by-products of Motors, which would spiral the growth of the motors ...
Client         2W     3W 4W     CV   FE Equipments Total
ICICI Bank              400     400  60   250   5     100     121...
 Total no of vehicles listed for auctions - 20520 vehicles
 Total no of vehicles sold in auctions - 15390 vehicles
 Tot...
E Diig – Motors Presentation Tmf
E Diig – Motors Presentation Tmf
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E Diig – Motors Presentation Tmf

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E Diig – Motors Presentation Tmf

  1. 1. Selling Process Re-Organized to Latest Trends & Requirements for Automobile Segment
  2. 2. IDENTIFICATION Feet on street activity / Telemarketing activity / Dealer Seminars / Dealer Association’s meetings / Mechanic shop tie-ups Existing dealer references / Print advertisements PRE-QUALIFICATION Prequalify dealers thru FOS & Telemarketing, based on the interest and availability of the KYC documents. Collect KYC documents from the prequalified dealers & verify their authenticity for Clearance. REGISTRATION Registration is free of cost for dealers Verified dealers are registered in our website www.ediig.in During registration a user id and password would be created for Future Usage TRAINING An extensive training is given in local language or dealer understandable language on the complete auction process of eDiig. During the training, dealers are made to understand the process on checking the auction calendar for vehicle listings & date of auction Dealers are also trained to login into the site themselves, enter their username & password, and go to the auction bidding page and bid by themselves. Training is also provided on using the auto bid feature & printing the bidding activity sheet. ACTIVATION Dealers are handhold to participate in their first live auction, giving them all possible help to make him do the first bid. A dealer is taken as activated, if he has put the first bid. CONTINUITY – Follow up is done with new dealers to do repeat bidding.
  3. 3. PROCESS STEP DESTINATION SOURCE TMF EDIIG 1 – TMF Provides List to eDiig EDIIG DEALER 2 – eDiig Circulates the list to Dealers TMF DEALER 3 – Dealer Inspects the Vehicles at Godown EDIIG DEALER 4 – eDiig Conducts Online Auction / Offline Bulk Quotes DEALER EDIIG 5 – Dealers Bid in eDiig Online Auction / Submit Quotes EDIIG TMF 6 – eDiig Sends the Auction Completion Report to TMF DEALER TMF 7 – Dealers make the payment to the TMF on confirmation TMF DEALER 8 – TMF Releases Vehicles to the Dealers post Payment EDIIG TMF 9 – eDiig will Raise an Invoice for the Sold Vehicles TMF EDIIG 10 – TMF will Release the Transaction Fee to eDiig
  4. 4. eDiig will Intimate Dealers to Collect TMF Gives List to the Dealers about the inspection eDiig the Auction by letters from TMF SMS / E-Mail / Etc Feedback is sent to eDiig will collect Dealers will inspect TMF Pre Auction to feedback about the the vehicles in recommend any vehicles and the Godown changes market trend Based on Feedback Final Confirmation provided by eDiig of Prices is taken Auction to be LIVE TMF can re- from TMF consider any Prices
  5. 5. eDiig Will Monitor Dealers are given Auction LIVE – required assistance the Start of Bids in Dealers Get a Final , but they have to the Auction Reminder BID on their own eDiig will EDIT any eDiig will also cross check with the eDiig will check for Wrong BIDS, but Dealers on their any Wrong Bids will confirm with activity TMF before that On Completion of Dealers are also the auction, eDiig Auction Report intimated on the does a final check Sent to TMF vehicles they WON on the Winners
  6. 6. Buyers will make eDiig will follow-up eDiig Intimates the regularly with the the payments to Buyers to start the Dealers for TMF based on payments payments auction report eDiig will then TMF will release If any Dealer is not check with 2nd or paying for an Asset the vehicles after 3rd Bidder after eDiig de-activates the Dealer makes confirming with their ID’s the payments TMF TMF needs to eDiig will then eDiig will Cross inform the Dealers provide the check with the about the status of necessary MIS & Client on the final NOC, RC’s, post auction outcome after 48 documents, etc review hours post auction
  7. 7. Payment follow up and ensuring fulfillment is a very important part in auction process. In eDiig, we have an effective and efficient post auction payment follow up system to ensure dealers payments Winner Gets Intimation Dealers can also get the Detailed auction thru SMS / Tele on No Dealers have a list of vehicles won completion report is of Vehicles Won + Timeframe of 48 hours from their My Bidding sent to TMF Amount & Branch to make the payments Page Contact Person Day-3 – SMS is sent to After 48 hours ID’s of eDiig takes the Dealers who have not Dealers who have not Dealers get a reminder payment details made made the payments made the payment will SMS & Call next day for from the Dealers to about de-activation of be temporarily de- making the payments Track MIS their id’s activated On 5th day, defaulting Final status is reviewed For genuine reasons in Day – 6 - Final status on the 4th day and a dealers are deactivated delay in payment, report on fulfillment is & 2nd or 3rd bidders are call is given to dealers dealers are given time sent to the client for to get update on their asked to complete the till the end of 3rd Day confirmation payment status transaction In total, a minimum of 2 days and a maximum of 6 days is required to complete a transaction and also dealers are called upto 5 times and SMS is sent upto 3 times to get payment updates on their transactions
  8. 8.  There are around 300 vehicle models which are available in used market from 35 different manufacturers  Out of the 300 models only around 60 models are fast moving, the remaining 240 are slow moving/non moving.  Most of the clients are stuck up with these slow moving stocks as used vehicle inventory.  We would do a model wise analysis on the following points for every model 1) Resale Value 2) Markets where the models are strong/more demand 3) Find out Locations of New vehicle franchises, authorized sales point, authorized service point, authorized used vehicle dealers & company trained mechanics. 4) Prices at which the vehicles, were sold & the present price. Based on the analysis, we can formulate the model wise strategy for selling  Tactical Dealer development plan, register as dealers, all the authorized sales, service & mechanics of the particular brand to participate in the auction. They would pay more for the vehicles than others  Invite dealers to auctions from markets where the particular brand has demand/resale value  Tie-up with vehicle manufacturers, where they would give service support for their models, to enhance market demand and higher resale value.  Tie up with major insurance companies to provide duplicate invoices for the vehicles sold in auctions.
  9. 9.  Strategy for selling, where vehicles are unregistered or do not have RC 1) Formulate a four way tie –up between eDiig, new vehicle manufacturer, Vehicle financier & new vehicle manufacturer franchises. 2) Through our Government affairs & engagement program, we can organize a tie-up with RTO’s to issue duplicate RC’s / fresh RC at a speedy pace. 3) Can formulate an arrangement with vehicle financiers, to get the original RC’s from original customers.  Arrange for inventory / stock funding for slow / non moving brands, by organizing tie-ups with NBFC’s / Private Financiers, based on dealer’s track record/capability  Bundling fast moving models with slow moving models. The pull generated by the fast moving model, will automatically push in the slow moving models. Run a buyer incentive scheme for buyers of slow moving / No RC / Unregistered vehicles  Conduct Open auctions, by inviting everyone thru paper advertisement, thereby trying to sell the slow moving stock thru B2C model.  By combining the above points, we can formulate a robust selling strategy for slow moving vehicles
  10. 10. eDiig Business Adjacencies eDiig has also stepped into by-products of Motors, which would spiral the growth of the motors business as a whole. General Insurance – eDiig tied-up as a corporate agent with Royal Sundaram Insurance, for providing motor vehicle insurance to our dealers. Usually, when dealers sell their vehicles to individuals or end users they insure it and they sell it. Dealers get a margin of anywhere between 5% to 15% as insurance commission, from their existing setup. When they take insurance thru eDiig, they would get a minimum of 20% and a maximum of 25%. We would pass on 90% of our incentives to dealers, to help them earn more out of a vehicle business transaction and also make them repeat buyers in our site. Inventory Funding/Business Loans - eDiig started the process of tying up with leading financial institutions for arranging inventory funding/business loans to dealers, based on the track and potential. This would ensure in prompt payments in auctions, good price appreciation & high sell thru. Auto Classifieds – Developing our B2C auto classifieds called “eDiig Motors”. This classified site would allow dealers to create their virtual showroom to showcase and sell their vehicles to the end-users in different locations. The site would give the dealer a sense of owning a online showroom. Valuations - Provide comprehensive valuation services to our dealer network. Thereby giving them the comfort of selling their vehicles at consumer prices with an authorized valuation back up. Valuations can be provided both onsite and offsite. Auto Insurance Classifieds Motors Inventory Valuations Funding
  11. 11. Client 2W 3W 4W CV FE Equipments Total ICICI Bank 400 400 60 250 5 100 1215 TVS Finance Ltd 5000 0 0 0 0 0 5000 Bajaj Auto Finance Ltd 5000 2500 0 0 0 0 7500 Mahindra Finance 0 850 750 500 1000 0 3100 Chola DBS 0 500 250 250 0 0 1000 Shriram Finance 0 500 125 125 0 0 750 Indusind Bank 200 800 25 100 0 200 1325 Private financiers 0 500 5 125 0 0 630 Total 10600 6050 1215 1350 1005 300 20520
  12. 12.  Total no of vehicles listed for auctions - 20520 vehicles  Total no of vehicles sold in auctions - 15390 vehicles  Total conversion rate in auctions - 75%  Total Price appreciation over base price in auctions – 11.5%  Total gross merchandise Volume in auctions – 42.5 Crores  Total net conversion in terms of value in auctions – 36.12 Crores i.e. 85%  Total net conversion in terms of vehicles sold in auctions - 14004 i.e. 91%

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