Ola Cars eyes $2 billion sales in 1 year; to hire 10,000 people

Mobility unicorn, Ola said that its vehicle commerce platform, Ola Cars is eyeing a 2 billion sales over next 12 months and will hire 10,000 people across key areas, including sales and service centers.  Ola Cars has already sold 5,000 pre-owned cars in its first full month of operation, claiming it to be the fastest growth achieved in this category for a new entrant. Ola forayed into the pre-owned car market earlier this month.

The sales of used cars in India have picked up aggressively during the pandemic on the back of the virus-induced inhibitions to commute via public transport as well as expensive new cars due to supply constraints.  According to a report by research firm, Frost and Sullivan, the used car segment in India is expected to generate stronger sales than the new cars with 8.9 million units of pre-owned cars likely to be sold by FY25 compared to 3.9 million new cars. Ola, meanwhile is also planning to sell new cars on its platform as a part of the long-term business strategy

In the middle of the ongoing festive season, Ola Cars said that it has started pre-owned vehicle sales in Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Ahmedabad and will also expand to Chandigarh, Jaipur, Kolkata, and Indore by end of this week, through the Ola app, to provide customers a reimagined vehicle commerce experience, the company said in a statement.

 “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 centers,” Arun Sirdeshmukh, CEO, Ola Cars, said.

Over the next two months, Ola Cars will be operational in 30 cities and expand to 100 cities by next year. The ride-hailing giant said that is also setting up service centres across the country to provide a dramatically better experience through advanced telematics.

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