OLX launches franchisee-led retail stores OLX Autos for pre-owned cars
The dealers will get access to the OLX Integrated-Omni Channel Store experience where they will be able to retail pre-owned cars across OLX’s online marketplace as well.
OLX on Thursday announced the launch of its new franchisee-led pre-owned car retail offering where dealers and consumers can buy and sell pre-owned cars. The franchise-led model will be branded as ‘OLX Autos’.
In the initial phase, the franchisee stores will operate across the cities of Delhi, Chennai, Madurai, Mumbai, Patna, Rudrapur, Jammu, Kolhapur, Kolkata etc.
This will enable independent dealers to become a part of OLX India’s approved dealer network and is an extension of OLX’s online classifieds marketplace.
The dealers will get access to the OLX Integrated-Omni Channel Store experience where they will be able to retail pre-owned cars across OLX’s online marketplace as well. OLX will also provide economical inventory funding options to the dealers.
Talking about the launch of the franchise network in India, Amit Kumar, Head OLX Autos India, said, “With a mission to create an efficient ecosystem of pre-owned car retail in India, we are launching the franchise operations to cater to the ever-growing demands to organize retail of pre-owned cars in the country. The network of our franchise stores will work collaboratively with our dealer partners to increase their profitability and improve their operations.”
Customers will have access to a larger inventory of verified cars, avail extended warranty services, roadside assistance, and insurance on their pre-owned car purchases. This move is a further extension of OLX’s online platform to the offline format. The company also owns offline stores called OLX CashMyCar.
Due to COVID19, OLX estimates that about 60% plus pre-owned car dealers have unsold inventory and are facing difficulties while availing working capital.