OLX, the online classifieds platform, has recently started a physical store named Cash My Car which will sale used vehicles utilizing a partnership with the German-based Frontier Car Group. Frontier is also backed by OLX Group.
Olx said that 27 Cash My Car stores were already operational in Delhi NCR (including Noida, Gurgaon, Ghaziabad, and Faridabad) Bangalore, Mumbai, Hyderabad, Pune, Chennai. It plans to expand to 150 stores in 40 cities by the end of 2021.
OLX claims to have 1,000 active buyers on the platform, and expects rapid growth. It claims that ‘a few thousand’ customers have sold cars on the platform. When asked about how the platform will be monetized, OLX India VP Amit Kumar, who also heads OLX Cash My Car, said that the company is evaluating those options, without mentioning any specifics. He said it would expand to other cities based on the car density per capita and projected growth, which “typically translates to the top Tier-1 and Tier-2 towns.”
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