OLX Autos reaches US$1b in second-hand car transactions

Amsterdam–(business wire)- Today, OLX Group, a leading global network of trading platforms, has revealed that OLX Autos is an innovation leader for the second-hand car business in 10 countries across Asia and the Americas, having grown in sales since its inception. has crossed US$1 billion. January 2020.

About half a million cars are listed for sale every month by consumers and dealers on the OLX Autos classifieds platform in India, Indonesia and Latin America. OLX Autos attributes its rapid growth to offering customer solutions for car sellers, car buyers and dealers through its integrated online and offline capabilities:

  • Car sellers also benefit from access to a free appraisal of their car, either through in-person inspection at one of over 450 authorized OLX Auto Inspection Centers or remote inspection from the comfort of their driveway. Realtime online dealer auctions reaching a network of over 13,000 car dealers means sellers are offered fair market value within an hour, a reliable car sales service with prompt and guaranteed payouts .

  • For buyers, OLX Autos offers the assurance of a wide range of inspected and verified cars, and the option to buy “OLX Autos Certified” cars directly from OLX’s online classifieds platform. Buyers can also opt for convenient services such as assistance with financing, insurance, and registration, which are being rolled out country by country.

  • Lastly, OLX Autos provides car dealers with a reliable and reasonably priced source of auto inventory.

By bringing offline and online services into a unified customer experience, OLX Autos offers a simplified car transaction process that aims to bring reliability and peace of mind to one of life’s most high-stakes transactions.

OLX Auto has further accelerated its product development and customer experience in response to the COVID-19 pandemic, developing proprietary technology for leading-edge home and self-inspection services. In this way, car sellers can use their mobile phones to capture their car data, take pictures, upload videos, record engine audio and get the convenience of a fair appraisal from the comfort of their home.

Gautam Thakar, OLX Autos CEO said: “At the heart of what we do is innovating to solve customer pain points, and we keep on finding more ways to make the car transaction process painless and satisfying. The introduction of home and self car inspections during the period has helped our customers cope with the lockdown period, which came in many of our markets, when car inspection centers had to close their doors for some time.”

Thakar concluded, “We use data, technology and artificial intelligence to provide sellers with a fair price for the car, while providing insurance and guarantees to buyers in what could otherwise be one of life’s most stressful transactions.” ”

OLX Auto History

The journey of OLX Autos began in 2018 with a meager investment by OLX Group in Frontier Car Group (FCG). Another $500m investment in FCG in 2019 made OLX Group a majority shareholder. From January 2020, OLX and FCG merged operations in select markets, rebranding from local brands to “OLX Autos” in most countries. For the first time in these countries, FCG’s ‘Real World’ inspection centers were integrated with OLX’s online car trading platform, helping customers overcome the hassles of buying or selling a car online from a stranger.

OLX Autos at a Glance

  • Operations (online platform, inspection center) in 10 countries (alphabet): Argentina, Chile, Colombia, Ecuador, India, Indonesia, Mexico, Pakistan, Peru and the United States.

  • ~500K cars listed on OLX Autos classifieds platform every month by consumers and dealers

  • 450+ Inspection Centers Offering Free Car Inspection and Instant Payment in 1 Hour for Car Sellers with a Convenient and Reliable Car Sales Service

  • Monthly inspection of ~50,000 cars

  • Network of 13K+ Dealers

  • Till date, OLX Autos has bought, sold and inspected 400K+ cars. ~100K cars sold in FY21

  • 4.6K+ employees helping customers transact for their cars in 3 continents and 10 markets

  • The “Self-Inspection” mobile app allows car sellers to inspect their cars and submit data remotely – replicating the experience of an inspection center from the comfort of their own homes

  • After accelerating the first year with milestones of growth and innovation, in March 2021, consumer internet and marketplace veteran Gautam Thakar (eBay, Shopping.com, Living Social) took over as the global CEO of India-based OLX Autos. Joined – OLX Autos’ largest market.

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About OLX Autos

OLX Autos creates advanced trading platform for buying and selling of used cars. It combines online and offline services into a simple one-stop solution – providing convenience, safety and peace of mind to car buyers and sellers alike and across 10 countries and three continents.

OLX Autos operates over 450 inspection centers across Asia and the Americas, and operates an online trading platform for people to buy and sell cars. So far, OLX Autos has bought, sold and inspected over 400,000 cars.

OLX Autos is currently active in Argentina, Chile, Colombia, Ecuador, India, Indonesia, Mexico and Peru. It operates under the well-known webuyanycar.com brand in the US and CarFirst in Pakistan.

OLX Autos is part of the OLX Group, which operates one of the fastest growing networks of trading platforms globally. It serves 322 million people every month in 30+ countries around the world, helping them buy and sell cars, find housing, find jobs, buy and sell household items, and more. For more information visit www.olxgroup.com.

About OLX Group

OLX Group operates one of the fastest growing network of trading platforms globally. Serving 322 million people every month in 30+ countries around the world, OLX Group helps them buy and sell cars, find housing, find jobs, buy and sell household items, and more. With over 20 popular local brands including Avito, OLX, OLX Auto, Otomoto and Property24, its solutions are built to be safe, smart and convenient for its customers.

OLX Group is powered by a team of 11,000+ people around the world, who are integrated in their ambition to shape the future of business to unlock the hidden value in everything. For more information visit www.olxgroup.com.

OLX Group is a division of Prosus, a global consumer Internet conglomerate and one of the world’s largest technology investors. Prosus has a primary listing on Euronext Amsterdam (AEX: PRX) and a secondary listing on JSE Limited (XJSE: PRX), and is majority-owned by Naspers. For more information about Prosus and its companies and investments, please visit www.prosus.com.

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