Home Automobiles OLX announces its plan of further expanding its used car business in...

OLX announces its plan of further expanding its used car business in India

Earlier on Monday, November, 26th, OLX, an online marketplace for pre-owned goods, officially announced the offline expansion of its used car business, as it went on to reveal its plan to have as many as 150 outlets in 40 cities across India by the year 2021.

As per reports, The company, that currently runs a pilot in six major Indian cities with around 30 outlets, has boosted its business in recent times under ‘OLX Cash My Car’ chain in a joint venture with Berlin-based Frontier Car Group (FCG).

According to Amit Kumar, head of OLX Cash My Car and OLX India Vice-President he claims that as the used car market is growing at 15-16 per cent annually, the company remains bullish about its new offline business for pre-owned vehicles.

In a statement, the OLX India Vice-President and OLX Cash My Car head said, “We plan on expanding OLX Cash My Car in the top 40 cities in India with about 150 outlets by the year 2021.”

As per reports, currently, OLX Cash My Car has 27 stores in the capital, Nodia, Gurgaon, Faridabad, Bangalore, Ghaziabad, Hyderabad, Mumbai, Chennai and Pune.

Kumar then revealed that OLX would proceed further with its offline expansion plan in partnership with FGC, which has South Africa’s technology investor Naspers as a major investor.

In a statement, Amit Kumar said: “With our (OLX) local reach and know-how, it is a winning combination for both channel partners as well as users.”

Amit Kumar then further added, mostly, “OLX Cash My Car stores are company-owned mostly, and we would like to follow with this model as we are looking at almost all new stores to be owned by us.”

When questioned about how the investments that will be put in for the expansion of used-car retail business would be utilized, Kumar refused to give a comment.

Kumar was reportedly quite Bullish on the new venture, as he said that 10 million users are from the cars category out of the 40 million monthly users of OLX.

Kumar concluded by saying, “For us, this happens to be our main area of strength.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Top 10 Free OCR Software Tools in 2020

These days most of the things like photos, music, videos have got on digital platforms and this makes total sense, as it...

9 of the best rabbit alternatives in 2020 (Free) 

Watching movies, shows, and videos with loved ones is always memorable but if you are not together then you should check out...

Is mobdro legal or is it illegal? Is it safe to use the app?

Internet streaming is a vast universe and The more you dive into it the easier it comes to be for sites like...

How to fix Netflix Error Codes (List of Errors)

Netflix is a tremendous streaming service with a bunch of high-quality content to watch on all types of different devices. Yet, sometimes,...

How To Get Sims 4 free real estate cheat

The Sims 4 is a  life simulation video game the year 2014 and was formulated and developed by the Redwood Shores studio...

Popular

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Cyberflix TV 3.3.1 – Download Cyberflix App Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Kissanime|Download Kissanime App Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, Roku

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...