OTO launches its 2-wheeler buying and financing platform in Ahmedabad

13 Jan 2022 , 12:06 PM

OTO, a startup that helps customers buy or finance two-wheelers, has today announced its launch in Ahmedabad to directly cater to its customers in the region. The company has already partnered with 8 dealerships in Ahmedabad and plans on onboarding 12 more dealerships by mid-January.

With increasing demand for electric two-wheelers, the company has received over 2000 queries on their financing options in the city so far. This, along with 8 new sign ups with showrooms shows the growing interest amongst the local customers. Some of the dealers OTO has partnered with in Ahmedabad include Universal Honda, Kataria TVS, Kataria Ather, Petal Automation, Planet Automation and others. In order to attract new customers in the region, OTO is also offering upto three free EMIs through its ‘Spin the Wheel’ campaign. OTO’s home delivery and home test-drive options have also been made available in Ahmedabad with the launch. .

Commenting on the launch, Sumit Chhazed, Co-founder, OTO said, “The two-wheeler market in India has witnessed a staggering growth with demand gradually picking up post 2020 lockdown restrictions. In the midst of this growth, we are elated to announce our launch in the Ahmedabad region. With almost 74% of vehicles in the city being two-wheelers, it is a crucial launch for us.

While two-wheelers are the main focus for OTO, our aim is also to boost the adoption of electric two wheelers in the country. As we expand our operations across the country, we hope to cater to a large part of the population, diversifying our services through a wholesome customer experience of two-wheeler ownership .” Chhazed added

Speaking about the partnership with OTO, Tejasbhai Jagdishchandra Raval, General Manager, Kataria TVS said, “We are extremely pleased and exhilarated to have partnered with OTO, the fastest-growing two-wheeler purchase and finance company in the country that provides an all-around digital experience to its customers with an affordable EMI’s lower than banks accompanied by bike up-gradation. Our strategic partnership with OTO is expected to soar up sales for the two-wheelers, strengthen the relationship and help buyers who are keen to reimagine two-wheeler ownership and reap benefits from it. Such a partnership could also lead to a digital transformation from the traditional method of buying and selling to using the conventional mode from the comfort of home.”

Started in 2018, OTO operates on an innovative financing model for 2-wheelers where the buyer pays an upfront amount like any other loan but gets up to 35% lower EMIs with an option to retain, return or upgrade at the end of the tenure. The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides full auto lifecycle management, from credit underwriting to insurance, maintenance, and eventual resale of the vehicle.

OTO had recently embarked its presence in Indore and Delhi last year. The company has received 3000+ applications from Indore and 7000+ applications from Delhi till date. Apart from these cities, OTO also has its operations in Hyderabad, Chennai, Bangalore and Pune. The company aims to reinvent the two-wheeler  ownership experience in emerging markets.