CredR, an omnichannel used two-wheeler consumer brand, has announced a collaboration with Hero Electric under which customers will be able to exchange any petrol scooter or motorcycle for a new Hero Electric scooter or bike. CredR’s role in the program will be to provide instant quotes for old petrol scooters, thus reducing the upfront cost of Hero Electric scooters.
Customers will need to bring in their old petrol two-wheelers for a physical inspection and valuation at any Hero Electric showroom. An instant price quote/ estimate will be generated through the proprietary pricing application powered by CredR.
To complete the transaction, CredR will verify the documents and the health of the petrol version of the two-wheeler. The exchange price will then be adjusted against the final cost of the new Hero Electric two-wheeler. Currently, the program is available in Delhi-NCR, Hyderabad, Jaipur, Bengaluru, and Pune. It will be expanded to other cities across India.
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Post unlock, Hero Electric has seen good demand for e-scooters as a reliable and affordable personal mobility solution. The company believes increased consciousness towards safer and affordable means for transportation will make more petrol buyers consider EV. At this juncture, the instant exchange scheme from CredR clubbed with unique leasing & low installments will only help more people buy a Hero Electric scooter, Sohinder Gill, CEO, Hero Electric, said.
As the sales of overall two-wheelers will see a boom, there will also be a rise in sales of second-hand e-two wheelers. Currently, electric mobility contributes to less than 1% of the two-wheelers market that can only increase from here, Sasidhar Nandigam, Chief Strategic Officer, CredR said.
