Indian brand OLX has been the pioneer of pre-owned products sale in Indian online marketplace. It allowed the sellers of pre-owned products to post their advertisements on the OLX platform and this gave them a huge reach over the internet so that the interested customers could contact them and the deal could happen.
FCG (Frontier Car Group) is present in Nigeria, Mexico, Chile, Pakistan and Indonesia and with its joint venture with OLX, it marks its entry in India. OLX’s investment arm, OLX Ventures have invested in the German enterprise. This was a completely online business model until recently. OLX collaborated with the Berlin-based FCG to launch their offline centers.
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CMC allows the users to instantly sell their car at the centers after a thorough inspection by the team installed at these centers. This is a quick process and it involves the action of the cars. However, this is not new in the Indian market. Cars24 is an Indian business that is very famous in numerous Indian cities for carrying out similar business. They are an established force to reckon with in India. OLX, with their huge user base and foreign collaboration, believes that they can surpass the existing players in the Indian market.
(Reproduced with permission from ReviewTech)
