MotorExchange's Unbelievable Sale Volume

By By: Vicky.in

Published: Wednesday, January 12, 2011, 15:22 [IST]

The auto market is not only feeding the new car making but also pours in a lot to the exchange market too. This has been proved by MotorExchange which is an online market space for used vehicles. The concept is on the verge of expanding its activities by pressing more work and direct consumer dealing. The concept selling from this MotorExchange is just one year old during which it amassed million worth business. The efforts of Epiphany Ventures in this regard needs citation along with Canaan Partners. The firm is a brain child of the former chief executive of Mahindra First Choice in which the advisory presence of the Rajan Mehra of Clearstone Venture Advisors and e-Bay.

The CEO of MotorExchange said that the used car vehicle market has a large dearth especially from the commercial banks which hike the net sale volume. The average disposal from these sector is 15000 units as a result of seizure from the payment defaults. Incidentally the private banks are more keen on selling these vehicles, he added. The Epiphany Ventures" annual turnover musters to million in which LN Mittal family is the key figure. As such MotorExchange is the second after Epiphany's and is in the scene since 2008. The Director of Epiphany ventures praised MotorExchange for its efforts exerted in the used car dealings and expressed the hope of reaching billion in another five years" time.

Article Published On: Wednesday, January 12, 2011, 15:07 [IST]

Read more on: #anjana #auto news #automobile #cars

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