New Delhi sources stated that online marketplace
for pre-owned goods, OLX, Monday announced offline expansion of its used
car business with plan to set up 150 outlets in 40 cities across India by 2021.
Meanwhile the company, which has been running a pilot in six top cities in the
country with around 30 outlets, is now accelerating the business under 'OLX
Cash My Car' chain in partnership with Berlin based Frontier Car Group (FCG).
As per report OLX India Vice-President and Head of
OLX Cash My Car, Amit Kumar, said with the used car market growing at 15 to 16%
annually, the company is very bullish on its new offline business for pre-owned
vehicles. He said "Our plan is to expand OLX Cash My Car in top 40 cities
in India with about 150 outlets by 2021”. Presently there are 27 OLX Cash My
Car stores in the capital, Gurgaon, Faridabad, Noida, Ghaziabad, Bangalore,
Mumbai, Hyderabad, Pune, and Chennai.
![Image result for OLX to set up 150 Outlets for selling Used Cars]()
Moreover Kumar said OLX will leverage on FCG's
know how of emerging economies, expertise in scaling offline automotive
platforms and building infrastructure tailored to the local environment. Further
he said "We are looking at almost all new stores to be owned by us and
that is the model we would follow and he however, declined to comment on the
investments that will be put in for the expansion of used car retail business”.
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