"IBB: Using Data to empower you throughout the car ownership cycle"
Today, the face of the car Industry has seen a sea change - people’s perspective towards cars has changed from being a luxury asset to a mobility solution. If one looks closely, this change from an asset to a mobility solution has important ramifications in the way in which a car buyer views his car. Given the plethora of options and explosion of brands, today’s car buyer is more rational than emotional.
Let us see some very interesting characteristics of today’s car buyer:
- He spends over 3 months from research to finalizing his car.
- He spends hours on the internet discovering what he needs by going through hundreds of forums and reviews before narrowing down on the car of his choice.
- He is open to explore options in the used car market, which has led to the growth of the used car market (currently 1.2 times bigger than the new car market size).
- He is no longer brand and segment sticky. One can infer this from the number of generic segment based searches on google. On begining the search process, over 94% do not decide on the brand they are going to consider.
- The influx of various new segments (Compact SUV, Small SUV, Family MPV or LUV, and Compact Sedan) has led to the merging of automotive segments. This explains the fact that today’s customer, at any given price point, is ready to explore a sedan, a Hatch or a SUV or a bigger used car based on his need.
The above changes in the behaviour of a car buyer explains to a major extent how the car has become a rational mobility solution. Today, the customer is more led by rationality than by stereotypes.
Having studied these changing behavioural patterns, we at Indianbluebook.com, have developed products and tools that empower the customer throughout his car ownership cycle.
We assist a car buyer with our widest range of used and new car inventory. Once he narrows down on the car of his choice, we help him ensure that his favourite car is his right car through ‘Autoinspekt’, a comprehensive vehicle history inspection service. We also help the buyer with our test drive application – TAPP, the first used car test drive application in India, through which he can test drive new or used cars, selected from the IBB inventory.
Once a buyer has made up his mind, we help him own and cherish the car of his choice through our Finance, Insurance and Warranty products. These products are available to both used car and new car buyers.
Post the ownership cycle, we help the seller of the car to discover the best price for his used car through IBB trade, a powerful car trading used by a large group of IBB Subscribed car buyers, who can give the best possible price for the seller. Once the seller agrees to sell his car at the best quote, we help him complete the transaction with full payments and documents transfer service.
Thus one can see how we, in Indiabluebook.com, throughout the Car Ownership Cycle help the buyer, owner and seller of the car make the right choice through data and science.