CredR to ride deeper into small towns on rising demand for used 2-wheelers

The used two-wheeler firm is in talks for fundraising, plans to double showrooms

CredR, an omnichannel marketplace for pre-owned motorcycles, is in talks with investors to raise another round of funding as the company seeks to make deeper inroads into tier-2  and 3 markets. Sales of used two-wheelers, which are largely unorganised and fragmented, have increased exponentially as preference for personal transportation has gained a lot of traction amid the pandemic. 

Also, a considerable slowdown in the economic activities, layoffs and salary cuts and the uncertainty has sapped purchasing power and buyers are giving preference to used two-wheelers over a new one, says Sasidhar Nandigam, co-founder, CredR. Some 300-400 million used motorcycles are sold