OLX Group has announced the launch of OLX Autos which is a car buying and selling model with an online and offline component. OLX Autos brings the company’s online operations with its offline brand CashMyCar (which will be rebranded as OLX Autos stores) under its umbrella. This model includes an inventory of cars, inspected cars, new automotive allied services and a new interface across OLX’s online presence on both web and app. As per the company, the new offerings have begun to roll out across India and will be visible across OLX’s franchise and company-owned stores and OLX’s online platforms.
The company says that they currently command 80 per cent of the market share in the Indian pre-owned auto marketplace and lists over 20,000 cars online for sale daily. OLX has seen over 133% increase in demand and a 112% increase in supply for pre-owned cars on its platform since April.
Amit Kumar, CEO OLX Autos India said, “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.”
OLX Autos will include –
- Inspected cars: Consumers and dealers will be able to access detailed car inspection reports, technical reports on the car performance, ownership details, insurance or accidental history of the car and more.
- New car selling experience: Car sellers will now have the option to sell it across OLX’s online marketplace or via its retail outlets. OLX will provide dedicated support staff to guide consumers through the process of selling their cars at a retail store.
- Financing, Insurance and Roadside assistance: Dealers and consumers will be able to avail financing and insurance for their respective needs at attractive rates. Customers will be available these options across OLX’s franchisee and company-owned stores only as of now.
Over the next couple of months, OLX Autos will roll out new features and offerings across its retail channels and online platforms.