eBay Motors banks on sales surge

eBay India Motors (EIM), a subsidiary of eBay Inc, is expecting eastern India sales to contribute 25 per cent to its overall business in the next 3 years. At present east contributes close to 20 per cent.

EIM, that sells to intermediaries who in turn sell to end-customers, is also in talks with financial institutions like ICICI Bank, HDFILC Bank and Tata Motor Finance, to organise financing to these intermediaries the way they fund SMEs.

Said Amit Bhartiya, director of eBay Motors India, "We are also planning to tap the business to consumer section."

The company in October launched a classifieds section on its website where buyers can directly contact sellers by email or phone and complete the transaction offline.

Sellers can list photographs and descriptions of the vehicles for 30 days for free.

In a matter of 20 days since the launch in October, this new BtoC segment has already got 120 listings.

According to Bhartiya, the market for online sale of used vehicles in India is estimated at $2 billion, and is growing at close to 15 per cent.