OLX accelerates its leadership in the pre-owned auto segment with the launch of OLX Autos

2024-11-23 08:44:37 Automotive

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New Delhi, Dec 8th, 2020: 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.

OLX Autos offers newer product innovations for a seamless and enhanced buying and selling experience.

Commenting on the launch, Sapna Arora, CMO OLX Autos India, said, ?At OLX Autos, we constantly listen to our customers - both expressed and unexpressed needs and wants - and funnel these insights into our development process. This enables us to stay close to our customers, bring differentiated and improved products more quickly to market, and deliver a consistently superior experience.? She further added, ?By integrating the experience across our online and offline channels, we endeavour to make buying and selling vehicles easier, faster and more convenient throughout our network.?

With the new launch, dealers & sellers will get access to OLX?s over 10 lakh plus interested buyers to sell their cars across OLX Integrated-Omni Channel Store experience. Buyers will have access to over 3 lakh plus cars available for sale on the platform via the new dedicated online presence & OLX Autos stores. Over the next couple of months, OLX Autos will continue to roll out new features & offerings across its retail channels and online presence.

OLX Autos

OLX Autos is a global car marketplace that?s transforming the autos industry. A one-stop solution to buying or selling a car, it?s safe, convenient, and offers guaranteed peace of mind for both buyer and seller.

OLX Autos has more than 500 inspection centres across the Americas, Asia and Africa. It operates under its own and other well-known leading brands, such as OLX CashMyCar, 321 SPRZEDANE!, CarFirst, Cars45 and Webuyanycarusa. Every year, OLX Autos inspects 300,000 vehicles and enables 130,000 vehicle transactions globally.

OLX Autos is part of OLX Group, which operates the fastest-growing network of trading platforms globally. It serves more than 300 million people every month in 30+ countries around the world, helping them buy and sell cars, find housing, get jobs, buy and sell household goods, and much more.