Mahindra Launches an Online Portal in Vehicle Auctions

Mahindra First Choice Wheel Pvt Ltd announced new ways in traditional auctions for their buyer. The platform, True Time Bids ( will significantly improve the efficiency in the traditional auctions path in India, company claimed in statements.
Typically, auctions of vehicles are taken offline while some are also carried online to attract traditional bidders. The true time bids combine both auctions format into one simultaneous auction events. This new online auction platform to participate buyers in traditional ‘on ground’ used car auctions via internet in real time. True Time Bids Platform is giving web link to physical auctions. Using the latest technology like web-cam and internet streaming, TTB gives you to see and hear the action as it happens in the yard/banquet hall from anytime at anyplace, so you can bid and buy vehicles online in real time.
Mahindra (MFCWL) ran a pilot project of true time bids along with kotak bank prior to its launch. MFCWL Senior Vice President of e-Business B Ganesh Kumar claimed: “The pilot launch of with Kotak has been extremely successful and we look forward to providing this platform to all our clients over the next few weeks.”
Saying that the platform will fundamentally change the way vehicles are disposed at auctions, he claimed, “Our clients are continuously looking for higher liquidity and more efficiency in our auction services, and we are pleased to develop and launch India’s first simultaneous online-offline auction platform.”
The initiation of True Time Bids (TTB) is a new era of Mahindra First Choice Wheels, overall aim to lineup the used-car space in India and introduces legitimacy and transparency to the market, the company said.

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