CredR to invest $15 million in used 2 wheeler business in FY 21-22

CredR has a network of showrooms across 7 cities namely Delhi NCR, Jaipur, Bhilwara, Chittorgarh, Sikar, Pune, Bangalore, and is looking to expand to more cities in the coming months.

Sasidhar Nandigam, Chief Strategy Officer, CredR said, “There is a 400% surge in demand for used two-wheelers, as this pandemic has reinforced the need for a personal vehicle. In FY20, there were 1.3 used two-wheeler transactions for every new two-wheeler transaction. We see this number going well above 1.7 times in the current year, as people prefer personal mobility at a lower cost. Our Gold Standard used two-wheelers, are aimed at providing economical, value-driven personal mobility solutions to people in the most transparent and hassle-free manner.”

All used two-wheelers sold from CredR showrooms will be Gold Standard ones that come with a six-month engine, and a gearbox warranty, as well as a no-questions-asked 7 Day Buy Protect.

The seven Days Buy Protect post-purchase of the used two-wheeler offers aid with any issues related to mechanical or electrical functioning of the two-wheeler.

“Overall, since Unlock 1.0, we have already touched a 100 pc of our pre-covid numbers and we expect the used two-wheeler business to grow 3-4X by the end of this fiscal year," concluded Mr. Nandigam.