OLX Cash My Car, Centre for Attraction for Pre-Owned Car Buyers

DELHI, India - May 22, 2019 - PRLog -- The organisation has ventured from exclusively online classified listing to running a model of online to offline is all set to shape up the industry. The organisation has forayed into almost all-important cities to tap the maximum market of second-hand cars. Currently, it's operational in Mumbai, Delhi, Faridabad, Gurgaon, Faridabad, Noida, Ghaziabad, Bangalore, Hyderabad, Pune and Chennai. Delhi market has been growing manifold since then for sure. The mix of the online-offline model has enabled the company to speed up the process as well as conversion rates. As Amit Kumar, VP New Ventures at OLX India says "This is a very exciting time for the pre-owned car market in India, and by extension, for OLX Cash My Car wherein the industry is ripe for disruption. The growth we have seen in such a short period of time is a testament to the above."

New Delhi market specifically has been doing great across sedan and hatchback segments. Both the segments have seen a successful percentage of conversion which proves to be a positive start for the company in consolidating the market. As far as the top three brands are concerned, it was seen that Maruti Swift, Maruti Swift Dzire and Hyundai Santro Xing are amongst the best preferred or sold as second-hand cars. While Maruti Swift inspection was up at 300 its car procurement success rate was at 25-30% whereas for Maruti Swift Dzire 350+ inspections took place out of which 30-35% was obtained. There is a gap of almost 60 when it comes to the Maruti Swift and Hyundai Santro Xing, third best with 250 car inspections. But it's interesting to note that it has a higher successful procurement rate than Swift which is of 35%.

Mostly searches show that Maruti Wagon R is the first choice of second-hand buyers though here the sell has been marginally lower than the potentials. The procurement rate has been at 19% and 20% respectively for Maruti Wagon R 1.0 and Maruti Wagon R. There could be multiple reasons like less sell, older cars which are not in good condition and cannot be procured or there could be an issue with official documents too. Hyundai i20, Maruti Alto and Volkswagen stood out with the best procurement rate of 28%, 28% and 25% respectively out of all top nine car brands. But their inspections base has been lowering to -150 for Hyundai i20, 100+ Maruti Alto and only 50+ for Volkswagen.

In coming months, as the auto market is gearing up for new car launches we hope to see new brands getting added to the top 10 list as well as expecting a rise in the numbers of inspections as well as procurement.

OLX Cash My Car
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https://www.cashmycar.olx.in/