In today’s fast pace world, nobody has time to put up an ad for their car and wait for a buyer to come and pick it up. As they say, time is money, the new ‘Cash my Car’ initiative from OLX aims to save just that. All the necessary steps, including inspection, valuation, and payment as well as logistics needs, is taken care of by an offline channel or a partner of the brand and the seller can walk out with some cash in their pocket once an offer is accepted. The whole process takes less than 45 minutes, which is completely hassle-free, even the paperwork and RC transfer is taken care of by OLX. Today, the brand launched its 50th outlet in the Bandra region in Mumbai.
A major milestone for the company, which had started this project back in August of 2018. They currently plan to have 150 pre-owned car stores by end of 2021 spread across 40 Indian cities. As of now, the 50 outlets are spread in 10 major cities – New Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Bangalore, Mumbai, Hyderabad, Pune, and Chennai. Out of these locations, the majority of stores are present in Mumbai, Delhi-NCR and Bangalore and account for nearly 65% of used cars demand. In order to enhance its network and facilitate high-quality services, OLX Cash My Car will focus on engaging deeply with its channel partners network. It will target to reach 6000+ channel partners across India through 50+ meets throughout the year.
“This is a very exciting time for the pre-owned car market in India, and by extension, for OLX Cash My Car wherein the industry is ripe for disruption. The growth we’ve seen in such a short period of time is a testament to the above” said Amit Kumar, VP New Ventures at OLX India. “The market has responded exceptionally well, and we are excited to expand our operational footprint. This expansion, aimed to reach the same eminence as OLX in the online classifieds space, will ride on the back of OLX India’s national reach, recognition as the industry’s leading brand, and continued investments in people and technology” he added.