Kolkata, Oct 11 mjunction services ltd, a 50:50 joint venture of SAIL and Tata Steel, has made a foray into the auto eRetailing business. The company has forged a tie-up with Reva Electric Car Company (RECC) for selling Reva vehicles through its auto business portal, www.autojunction.in.

Addressing a news conference hereon Thursday, Mr Viresh Oberoi, Managing Director, mjunction services ltd, said the e-commerce company had been selling used vehicles over the Internet on "as-is-where-is" basis through online auto auctions. Several banks and NBFCs were using the online auto auction service of autojunction to dispose their stock of repossessed vehicles.

Car buying experience
Mr Oberoi said that, following the tie-up with Reva, autojunction would introduce an end-to-end car-buying experience over the Internet for buyers of new cars in India. While the facility has been launched for buyers of Reva cars in Kolkata, a national rollout would follow at a later date.

Mr Oberoi declined to comment on the likely earnings of autojunction by virtue of the exclusive tie-up with RECC. He said talks were underway with two other automobile manufacturers for forging similar tie-ups. Speaking on the occasion, Mr Chetan Kumaar Maini, Deputy Chairman & Chief Technical Officer of RECC, said about 2,200 Reva electric cars had been sold globally till date. While internationally most of them were sold in London, in India, Reva vehicles were currently sold only in Bangalore.

Source: http://www.thehindubusinessline.com/2007/10/12/stories/2007101252620200.htm