Ola to enter used car retailing business
July 28, 2021
Ola is looking to diversify its offerings. The Indian ride-hailing major is on the verge of launching a pre-owned vehicle retailing business in Bengaluru, said three individuals aware of the details of the organization’s new business line. This would be the first major product launch for the Bengaluru-based organization over the last two years.
“Ola is likely to enter the segment with a full-stack model where it will purchase vehicles from individuals and the organization’s driver partners and offer them to buyers after glitches are removed,” said one of the sources requesting anonymity.
Sources additionally said that Ola has begun building a team for the new vertical and it will begin a pilot in Bengaluru constantly 50% of August. “The senior management at Ola considers it to be an integral plan of action to its center business mobility,” said the second individual who additionally requested anonymity, adding that the use car business will be called ‘Ola Cars.’
This move will pit Ola directly against organizations, for example, Spinny which has been in this segment for quite a long time and CarDekho, which forayed into the used car vehicle retailing segment as of late a market that is expected to grow further.