OLX is a well known, one-stop solution for car buying and selling which has been operating since quite a while now and the group has announced the launch of OLX Autos in India. CashMyCar, a renowned offline brand will be integrated with the industry-leading tech of OLX and will be rebranded as OLX Auto stores. OLX group is planning to add a host of new services to its offering including reliable verified cars, product innovation and a new revamped interface for both its website and mobile application.
With this, OLX is trying its best to make use of its technical expertise and exploit the otherwise unorganized used car market in India. As of now, OLX has over 80% market share in the used car market and since April, OLX says it has reported about 133% increase in demand and 122% increase in the supply for the used cars on its platform which now sees over 20,000 cars being listed on its website and mobile application on a daily basis.
These new offerings have already started to spread across OLX’s 100+ existing franchise and company-owned stores which are present in 20+ cities and these are also deployed on their website and mobile application as well.
OLX Autos, a part of the OLX Group has been operating in over 30+ countries serving 300 million people per month across different domains of services like housing, get jobs, buy and sell electronics, furniture and other household items. The OLX Autos has its services in other continents as well under different names such as OLX CashMyCar, 321 SPRZEDANE!, CarFirst, Cars45 and Webuyanycarusa; and claims that it inspects on average about 3,00,000 vehicles and does about 1,30,000 vehicle transactions globally.
The key highlights of OLX Autos will be detailed car inspection and technical report on the previous ownership, performance, finance and accident history. Along with this they are planning to provide finance and insurance from their company-owned stores as well. The mobile application and website have been updated with a user-friendly interface which will list down all the relevant cars as per the preferences of the buyer. The selling experience has also been improved with OLX stating that a potential seller now has to follow a lot lesser steps to put up their ad. Dedicated support staff will also be provided for a hassle-free experience.