OLX accelerates its leadership in pre-owned auto segment with launch of OLX Autos
Merges online and offline businesses for auto
New Delhi: OLX Group, the leading global marketplace network, today announced the launch of OLX Autos - a car buying/ selling model with a strong online and a strong offline component. OLX Autos brings the company’s online operations with industry-leading tech and it’s well known offline brand, CashMyCar(which will be rebranded as OLX Autos stores) under its umbrella. OLX’s strategy reinforces its commitment to customer-centricity by offering a slew of services, product innovation and an integrated experience across the value chain. The new product innovations include a reliable verified inventory of cars, inspected cars, new automotive allied services & a new interface across OLX’s online presence(web+app). The new offerings have begun to roll out across India and will be visible across OLX’s 100+ existing franchise & company-owned stores across 20+ leading metro & non-metro cities and OLX’s online presence(web+app).
OLX currently commands 80 per cent of the market share in the Indian pre-owned auto marketplace and lists over 20,000 cars online for sale daily. Building on the solid customer-focused operations that it established over the last decade in India, OLX Autos is positioned for strong growth, as buying and selling of pre-owned cars continue unabated in 2020. OLX has seen over 133% increase in demand and a 112% increase in supply for pre-owned cars on its platform since April.
“We aim to set a new industry benchmark for the used car trade-in India, bringing to the consumer a seamless process to buy, sell and finance a car under a trusted, easy and safe environment. Our new customer-centric approach enables us to leverage the strength of the OLX brand and better focus on and serve consumers, and adapt to their changing behaviours and preferences. It better positions us to grow and win across channels and geographies by delivering consistent, seamless and exceptional experiences, wherever and however our consumers shop for pre-owned autos”, said Amit Kumar, CEO OLX Autos India.“By combining our technology, financing and smart services to digitize more of the transaction, alongside our offline services and inspection centres, we will make buying and selling vehicles easier, faster and more convenient all around our network, while offering peace of mind on every transaction made”, he added.