Ola Cars targets USD 2 billion GMV, to hire 10,000 new roles

Ola Cars is a recently launched vertical that sells pre-owned vehicles and has already sold 5,000 pre-owned cars in its first full month of operation.

By:October 22, 2021 8:30 AM
ola used car salesAdditional acquisitions or investment plans that further deplete liquidity would also add negative ratings pressure, it added.

 

Mobility start-up Ola plans to hire 10,000 new people as it eyes a $2 billion gross merchandise value (GMV) for its vehicle commerce platform Ola Cars over the next 12 months. Ola Cars is a recently launched vertical that sells pre-owned vehicles and has already sold 5,000 pre-owned cars in its first full month of operation. It is currently operational in Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad and Ahmedabad with plans to expand into new geographies like Chandigarh, Jaipur, Kolkata and Indore by the end of this week. Over the next two months, it will be operational in 30 cities and expand to 100 cities by next year.

The platform is accessible via the Ola app, and offers doorstep test drive and a seven-day ‘no questions asked’ return of a purchased vehicle. “With Ola Cars, we are redefining the entire car buying, ownership and resale experience. Our ‘better than new’ buying experience is driving tremendous demand with over 5,000 cars already sold in our first full month of operation. We are rapidly expanding to 100 cities in the coming months and are adding 10,000 people across key areas including sales and service centres,” Arun Sirdeshmukh, chief executive officer at Ola Cars, said in a statement on Thursday.

The platform is also planning to set up service centres with advanced telematics, AI and computer vision-based systems to ensure high-quality repair work, advanced robotic paint shops that will provide paintwork to match OEM factory finish, and the promise of genuine auto parts. Ola Cars competes with other platforms such as CarTrade, CarDekho and Spinny. CarTrade recently listed in the stock markets, mopping up close to `3,000 crore in its IPO in August.

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