New Delhi, October 16th, 2024: To reinforce the unwavering partnership with its dealers, Spinny Partners, the Gurugram-based auction platform powered by Spinny, launched an innovative Rewards Program.
The event, hosted at Crowne Plaza, Rohini, New Delhi, brought together over 300 top dealers from across India, spanning 10+ states from Tamil Nadu, Karnataka to Gujarat to Punjab.
This initiative showcases Spinny Partners’ dedication to building strong and long-term relationships within its dealer network. It represents a significant milestone in the used car industry, being the first-of-its-kind that prioritizes dealer benefits in the long run and aims to elevate standards of trust and reliability in the market while achieving collective business growth and excellence. This Rewards Program sets a new standard in the used car market by reinvesting in the growth of dealer partners.
Coming off the back of Spinny Partners’ robust growth in H1 2024—where the platform tripled its dealer network to over 10,000 active dealers—the initiative demonstrates Spinny Partners’ unwavering focus on empowering its dealer community. The platform’s rapid expansion, evidenced by a transaction volume of over 65,000 cars available for bidding from 50+ cities across India, has been driven by its dealer-centric approach.
The Rewards Program structured in five tiers—Bronze, Silver, Gold, Platinum, and Diamond —recognizes and rewards top-performing dealers. The rewards include better deals for repeat purchases, attractive financing rates, dedicated post-sales support, and many more that will help Spinny’s Partners to scale their business further.
The Rewards Program allows dealers to earn coins for each transaction on the platform which can be availed in future purchases on the platform. As the Tier of the Partner increases from Bronze to Silver to Gold to Platinum, so does the multiplier rate at which they earn these coins, along with other benefits such as better financing rates, and special access to inventory. Designed to foster a culture of excellence, the tiered system offers dealers increased incentives based on performance, which is expected to strengthen engagement and build long-term loyalty. With such innovations, Spinny Partners is becoming synonymous with quality relations with used car dealers across the country owing to its dealer-first policies.
To further empower its dealer network, Spinny Partners has introduced several dealer-friendly policies alongside the Rewards Program, including transparent pricing with no hidden fees, competitive working capital financing rates, and simplified interstate transfer processes. These measures, combined with opportunities for higher profit margins, address key pain points faced by used car dealers, allowing them to operate more efficiently and profitably.
The dealers shared their stories, including Tottimpuri Venkatalakshmi, Laksmi Motors from Chennai, who has grown tremendously with Spinny Partners starting from 2-3 cars to now a business of 50+ cars in a span of only 3 years. She mentioned that ‘Spinny Partners is like an extended family and it truly feels like a partnership that promises growth while adding value to our business and end customers’
Gurveen Bedi, Senior Vice President, Spinny Partners, commented, “The foundation of Spinny Partners is the idea to grow together & revolutionize the used car market. Through this industry-first Rewards Program we are reinvesting in the growth of our Dealer Partners as we aim to collectively raise the standards of trust in our industry. This program embodies our commitment to conducting business in the right way, never compromising on the fundamental principles of trust, transparency, and integrity while growing together.”
Mohit Kataria, VP, Spinny Partners, mentioned, The Dealer Rewards Program is a significant milestone for us, and it embodies our belief that success is driven by mutual growth. Our dealers are integral to the Spinny ecosystem, and this program is our way of giving back by enhancing their experience and adding real value to their businesses. By offering rewards that scale with their engagement, we’re reinforcing our commitment to fostering lasting, fruitful partnerships.
Niraj Singh, Founder and CEO, added, “Transformation of the used car market in India is anchored in collaboration. Our dealer partners are vital in this journey, sharing our vision for delivering exceptional value. The Spinny Partners Rewards Program, an industry-first initiative, reflects our commitment to mutual growth. By investing in these relationships, we aim to drive meaningful change and create lasting value for everyone involved.’’
The launch of the Rewards Program comes as Spinny Partners continues its strategic focus on establishing a comprehensive service platform. In addition to car supply and financing, the platform will soon be providing insurance, consumer financing, and sales support, all designed to enhance dealer capabilities. Spinny Partners is also actively engaging its network through more than 30 dealer-focused events across Tier 1 and Tier 2 cities, involving over 5,000 dealers in discussions to further optimize its services and policies.