JIIF plans to replicate the model in other sectors, including real estate and investments, the foundation said in a press release.
23 Jan 2025 | 1969 Views | By Autocar Pro News Desk
The JITO Incubation and Innovation Foundation (JIIF) has organized India’s largest community-based group car purchase, focusing on premium models from BMW, Mercedes, and Toyota. The initiative, unveiled during the Bharat Mobility Global Expo 2025, has secured over 350 confirmed bookings and is projected to surpass 1,000 vehicles within two months.
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The JITO Incubation and Innovation Foundation (JIIF) has organized India’s largest community-based group car purchase, focusing on premium models from BMW, Mercedes, and Toyota. The initiative, unveiled during the Bharat Mobility Global Expo 2025, has secured over 350 confirmed bookings and is projected to surpass 1,000 vehicles within two months.
By pooling the purchasing power of its members, JIIF negotiated competitive deals, showcasing a new approach to collective buying in the Indian automotive market. According to Jeenendra Bhandari, Chairman of JIIF, this achievement underscores the potential of group initiatives to unlock benefits for participants. JIIF plans to replicate the model in other sectors, including real estate and investments.
The Jain International Trade Organization (JITO), the parent body of JIIF, praised the accomplishment as a milestone for its members and the wider community. Prithviraj Kothari, Chairman of JITO, highlighted the initiative as a testament to the strength of collective action and its ability to deliver measurable outcomes.
Group purchasing, a strategy gaining traction globally, involves consolidating demand to achieve cost savings and negotiation advantages. Industry observers have noted JIIF’s effort as a significant step forward in applying this model to luxury automobiles in India.
JITO, an organization of business leaders, industrialists, and entrepreneurs from the Jain community, works to promote economic and social development. Its initiatives span multiple industries, aiming to create opportunities for collaboration and growth. Through JIIF, its innovation-focused division, JITO seeks to foster entrepreneurship and collective success by supporting businesses and startups through mentorship, funding, and strategic initiatives.