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 percent 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 the buying and selling of pre-owned cars continue unabated in 2020. OLX has seen over a 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 behaviors 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 centers, 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.
- 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 at the tap of a button. OLX will provide dedicated support staff to guide consumers through the process of selling their cars at a retail store.
- Financing, Insurance & Roadside assistance: Dealers and consumers will be able to avail of financing and insurance for their respective needs at attractive rates. Customers will be available these options across OLX’s franchisee & company-owned stores only as of now.
- New in-app & web user experience: Buyers will now be greeted by a new user interface & dedicated section within the mobile app/web with a simplified user feed which will show relevant cars and details. Sellers will be able to list their cars faster and buyers can get a car of their choice faster.
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 endeavor 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.