Introducing OtoBix
Kolkata, June 18, 2024 – OtoBix, an innovative autotech auction platform for pre-owned cars, proudly announces its grand launch in Kolkata. Founded and led by Amit Parekh, OtoBix aims to transform the pre-owned car market by introducing transparency, efficiency, and fairness through cutting-edge technology.
Disrupting Traditional Markups
The pre-owned cars segment has traditionally operated with a 10-15% value markup by aggregators and dealers, leading to inflated prices for buyers and undervalued returns for sellers. OtoBix is set to disrupt this norm by reducing the markup to less than 5%, ensuring that both buyers and sellers receive fair market value.
“OtoBix is here to bring transparency and fairness to the pre-owned car market,” said Amit Parekh, Founder & CEO of OtoBix. “Our platform empowers sellers by allowing them to participate in the auction process and see real bids coming in. We are committed to leveraging technology to eliminate the inefficiencies that have plagued this market for too long.”
Key Unique Selling Propositions (USPs)
- Fair Market Value: Establishing the fair market value of cars using a scientific approach.
- Transparent Auction Platform: Integrating sellers and buyers into a transparent auction system.
- Zero Margin Model: Operating on a transaction fee-based model with no hidden margins.
- Comprehensive Inspections: Offering detailed and scientific car inspections to ensure quality.
Marketplace for Dealers
OtoBix also serves as a marketplace for pre-owned car dealers to efficiently liquidate their mismatched inventory. Having commenced operations in West Bengal and Orissa, OtoBix plans to expand to other tier 2 and tier 3 cities in the next six months.
Commitment to Technology-Driven Transparency
“We are committed to using innovative technology at a fraction of the conventional cost to drive our vision of technology-driven transparency,” Parekh added.
About OtoBix
OtoBix is an autotech startup based in Kolkata, dedicated to revolutionizing the pre-owned car market through transparency and technology. By offering a digital auction platform, OtoBix ensures fair market value for both buyers and sellers, making the process of buying and selling pre-owned cars efficient and fair.
OtoBix’s grand launch marks a significant step towards transforming the pre-owned car market, setting new standards in transparency and efficiency.
