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Buying a new car has always been a very “physical” experience. During the last century, visiting a showroom was the quintessential step towards purchasing a vehicle. However, it is possible to deliver a virtual experience that is not only immersive, but informative and definitive. The Eccentric Engine combines the best of human and virtual emotions leveraging all senses – sight, sound and speech – to make vehicle buying convenient, fast and comfortable.
The existing retail model with showrooms is not viable due to high operating costs. This includes costs related to personnel, inventory and other overheads. Showrooms are gradually turning into mere fulfillment centers. There is a common belief that OEMs will not invest in showrooms for the next three years. In this scenario, the entire purchasing experience becomes a virtual world.
Eccentric Engine co-founder Varun Shah has this to say about what the future of the vehicle buying experience will look like: Join us to help you in the virtual world. If you’re interested, your nearest fulfillment center will arrange a test drive at your customer’s doorstep, all signed and paid securely in the virtual world. .
Eccentric Engine has streamlined the lead-to-booking process. Using the company’s technology, a process that normally takes 35 days can be completed in 9 days, significantly accelerating sales. Another advantage of this technology is that showroom visits are greatly reduced, saving about 4-5 times the resources and time used. Auto retail is unlike his usual SaaS, which requires a thorough understanding of the underlying systems. Many of these systems will need to be upgraded for the platform to be truly effective. Eccentric Engines is vertically integrating to play a deeper role in this area.
“We are constantly investing in core graphics technology. There is a lot of potential, but we have unlocked the potential to transform virtual retail. We also contextualize our product significantly by working very closely with and learning from all stakeholders in the ecosystem, including OEMs, dealers, and buyers,” said Eccentric Engine co-founder One Gaurav Rane said.
The company is expanding its presence to international markets and is committed to building a whole ecosystem to enable industry virtualization.
“We’ve been profitable from day one. I don’t think a technology company necessarily needs to be in the red,” the co-founders said in a joint statement.