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 Published : June 28, 2007

IT Hub Begins e-auctioning of Used Cars in BPO Sector

The country’s IT hub has now started another new concept: E-auctioning of used cars in the BPO sector. But it will be sold only to bulk buyers.

Bangalore-based online auctioning company MatexNet Pvt Ltd has come up with a concept to dispose of used cars through the Internet. “IT/BPO is a major industry in the country using vehicles like cars and vans to transport their employees. The vehicles used in this segment are getting older as they have been servicing the industry for the past 5-7 years since the country witnessed. IT boom, “MatexNet managing director Jaganni Vasan said, At least 100,000 vehicles servicing IT/BPO industry are 5-year old and required to be replaced with new or lesser model year vehicles.

 MatexNet will be using B2B concept for e-auction of cars. He said cities like Bangalore, Chennai, Gurgaon, Mumbai, Pune and Kolkata have a huge volume of vehicles used for the IT/BPO segment. Bangalore’s IT/BPO industry alone has 60,000-70,000 vehicles. He said the company had initiated talks with more than 300 fleet operators attached to eh IT/BPO industry across the country to bring their used vehicles fore-auctioning.

 However, he said the vehicles would be sold to the bulk buyers and not to a single unit buyer. MatexNet has a data base of 3,000 bulk buyers (called as dealers), who are interested in buying used vehicles in bulk. The company is targeting a transaction of Rs 1,000 crores worth business by e-auctioning the used cars servicing IT/BPO industry.