OLX Autos unveils a new product platform for pre-owned car trade in India
OLX Group, the leading global marketplace network which recently announced the merger of its online and offline marketplaces to launch OLX Autos in India, has unveiled a new web & mobile platform designed to bring a new level of innovation and convenience to pre-owned car trading in India for dealers & consumer alike.
As India’s largest pre-owned car marketplace with 80% market share, OLX Autos has introduced many new features backed by artificial intelligence that is driven towards improving the trust & building a cohesive platform catering to India’s largely fragmented pre-owned car ecosystem. The newly unveiled OLX Autos product platform marks a significant departure from OLX’s erstwhile existing product experience across its web & mobile platforms.
For buyers, the new web & mobile interface will make OLX Autos the one-stop platform for all their needs related to pre-owned cars right from buying one to being able to access financing for the same within the app. Buyers will now be able to purchase a pre-owned car in 2 ways: either on the OLX app directly from another buyer or via the OLX Autos stores.
Buyers will now be greeted by a new user interface which will provide them with a detailed history of the car right from the ownership period all the way up to the service history of the car. They will also be able to access a host of financing options and after-sales products including insurance, warranty & more.
On the app, OLX’s AI-backed “Progressive Chat” feature will nudge buyers & sellers with helpful prompts to complete the transaction seamlessly. This will also include AI-led prompts which will recommend the best prices to the buyers. The new app will also include an AI-powered Q&A section where interested buyers can obtain more information about the car prior to the purchase.
On visiting the website or app, buyers will now be able to select cars under the inspected tab and verified tab. The inspected tab will feature cars verified by OLX while the verified tab will feature cars which have been self-verified by sellers.
For sellers selling their cars directly to others, the new platform will make it easier to sell their cars instantly. With an AI price engine, car sellers selling a car across the top 10 car brands will be able to value their cars in accordance with the market trends. Sellers would also have the option to sell their cars to OLX directly right from the convenience of their homes and get cash for the same instantly. Sellers will undergo a stringent verification process in order to be able to sell cars. All details concerning their verification will be kept confidential by OLX Autos.
For dealers, OLX has launched a new app - Super App for dealers. The new app will enable dealers to manage their inventory better, access leads from interested buyers & avail financing for their business. The new Super app will merge the existing tech platform by OLX into a single platform which will allow them to access OLX Autos omni channel presence(online classifieds platform & offline stores) to manage their listings and participate in auctions across OLX Autos stores.
Now dealers will have 2 options for being able to retail their inventory - either via the OLX Autos platform directly or via OLX Autos franchisee stores.
Amit Kumar, CEO OLX Autos India, says, “With the new tech & product changes, we want to reform the fragmented experience for dealers & consumers of pre-owned cars. With an advanced AI backed mechanism, we aim to eliminate the trust deficit in the industry by providing greater access to verified cars, comprehensive access to financing & after sales options. The new product is designed to offer greater peace of mind to dealers & consumers alike by offering OLX’s global tech prowess & innovative solutions in pre-owned car retail.”
OLX Autos is currently active in Mexico, Colombia, Chile, Argentina, India, Indonesia, Nigeria, Pakistan, Poland and the US via webuyanycar.com. Recently it launched OLX Autos in Ecuador and Peru and a car financing unit in LatAm.