News

News

OLX: 77% of all online used car sales happen on its platform

  •  

According to the online classifieds portal OLX, transactions in the automobile category increased from 2.4 million units sold in 2016 to 3 million in 2017 - a growth of 25%. The market size for pre-owned cars in India is estimated at 3.8 million units. This means, 3/4th of all online used car sales happened on its platform. 

The automobile category, which includes both cars and bikes, is the largest section on the platform that amounts for 45% of the total user visits. 15,000 cars are listed on OLX every day and each car listing receives more than 1,000 views. Moreover, 65% of the cars are sold within the first week from the day of the listing.

OLX increased its revenues from used car sales by three times during the period of FY2017-18. New dealer sign ups in the automobile category also doubled during this period. Overall, the seller base grew by 100% and the number buyers went up by 50%. According to the company, majority of its users (55%) are from Tier-1 cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Kolkata, while the remaining 45% are from Tier 2 cities.

 
Seat belts save lives