OLX witnesses three-fold income progress from pre-owned vehicles

ANI |
Up to date: Mar 07, 2018 23:18 IST

New Delhi [India], Mar. 7 (ANI): OLX, a web-based classifieds market for auto, actual property and items and providers, prolonged its management place within the pre-owned vehicles class by doubling its enterprise vendor base in 2017.

The car class that features vehicles and bikes is the most important part on the platform, with 45 % of the overall person visits. 15,000 vehicles are listed on the market, day by day on OLX. Every automobile itemizing on a median will get greater than 1000 views, and nearly 65 % of vehicles are offered inside the first week.

In 2017, transactions on the platform elevated by 25 %, from 2.4 million models offered in 2016 to three million models in 2017 (Jan- Dec).

On the enterprise aspect, revenues from pre-owned vehicles class elevated by thrice for FY 17 -18, supported by an lively base of enterprise sellers, the launch of customised options and native gross sales assist crew of 200, working throughout 50 cities.

In 2017, new vendor signups in vehicle class doubled on the platform. To foster the neighborhood, OLX invested in vendor join program- Driveathon, an initiative to help sellers to come back on-line.

In 2017, OLX ran this system throughout 20 cities touching over 3,000 sellers. Below this initiative, OLX educates automobile sellers in regards to the rising tendencies within the pre-owned vehicle market, hosts workshop with specialists from the business and promotes data sharing on regulatory developments within the vehicle sector.

OLX goals to increase the attain of this property to 40 cities in 2018.

“We’re centered on reworking the way in which customers purchase and promote pre-owned vehicles, utilizing on-line. 2017 was a rewarding 12 months for OLX wherein we advanced our vehicles class by constructing sturdy income streams and demonstrating a sustainable enterprise mannequin. Our deep-rooted understanding of the web classifieds locations us in a strong place to take the market to larger heights,” mentioned Sunny Kataria, Director, Auto Class, OLX India.

OLX registered a progress of fifty % within the variety of consumers, whereas the vendor base grew by one hundred pc within the pre-owned vehicles class, in 2017. A regional break-up of the automobile listings exhibits 55 % of them coming from tier one markets of Delhi, Mumbai, Bangalore, Chennai, Hyderabad, and Kolkata. The remaining 45 % of the listings come from tier two cities. (ANI)