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OLX Auto – Introducing
OLX Autos builds advanced trading platforms for buying and selling cars across ten countries and three continents. A one-stop solution to buying or selling a vehicle, OLX Autos provides safety, convenience, and peace of mind for buyers and sellers.
OLX autos booked an appointment and kept on calling and even sent a message on WhatsApp confirming that the work for inspection is fixed and mentioning the time and date, and on the day of the appointment, no one turned up… It was a joke. I was not informed, not messaged, and planned my day as per them, but it ruined my day. They waste time… When I called OLX, they said they couldn’t make it… Is it a customer’s problem?? They didn’t even bother keeping me informed.
OLX Autos operates more than 550 inspection centers across Asia and the Americas and online trading platforms, which reach over 2.4 million buyers every month. OLX Autos has bought, sold, and inspected more than 400,000 cars. OLX Autos is currently active in Argentina, Chile, Colombia, Ecuador, India, Indonesia, Mexico, Pakistan, and Peru. In addition, OLX Autos operates under the well-known webuyanycar.com brand in the US.
How Does It Work?
OLX already works online classifieds for used cars. However, the OLX Autos network is an offline extension to the digital marketplace. As a result, independent, second-hand car dealers can become a part of the physical retail chain, providing a network of ‘OLX Autos branded outlets for customers to buy and sell pre-owned vehicles. To begin with, the program is being thrown in a few cities like Delhi, Mumbai, Chennai, Kolkata, Madurai, Patna, Rudrapur, Jammu, and Kolhapur.
The OLX Autos network is being advanced to complement the firm’s existing OLX CashMyCar chain, which, on the different, operates on a consumer-to-business model. Company-owned CashMyCar stores provide vehicle owners with a platform to sell their cars auctioned directly to dealer partners across the country.
Customers Expect from OLX Autos
OLX’s latest creativity aims to formalize the second-hand car buying process and standardize customer experience across different dealerships. Observing the franchise model, Amit Kumar, Head, of OLX Autos India, said, “We are launching the franchise operations to cater to the ever-growing demands to organize retail of pre-owned cars in the country. This model aims to serve customers better in their local communities with a trusted way to buy pre-owned cars through our dealer partners.”
The company claims that the cars on sale through its OLX Autos-branded stores will be certified based on a “stringent inspection process”. Additionally, buyers will have access to extended warranties, roadside assistance, and insurance schemes while making their vehicle purchases.
OLX Autos Business Model
As you previously know that the model of Olx is classified. But its revenue sources are pretty different, likened to other secret models. But if you want to know in part about their business model and how it makes money, you must understand how is the whole thing.
Point right? To appreciate its revenue sources, you must first know how it works.
Olx stands for Online Chat. This is a stage where people buy or sell goods. So when a customer has somewhat they want to sell, they will put a secret arranged on this site, and whenever a buyer wants to buy something, they will look through this listing and purchase the things they are looking for. The sellers have to upload pictures of the item they want to sell. They have to give a detailed account and title and the probable value.
And the most significant part of Olx is that the buyers can check out more than one option. They can do other listings, contact the other party, bargain for the price, and obtain it. This is why types OLx is different from other online markets. But one thing that users must recollect is that this stage is the message point between both the seller and buyer. It only acts as a compound to connect both buyers and sellers. The trading, chat, transaction, and advances are only between buyers and sellers. Olx has no share in any of this.
How Do Olx Autos Make money?
Olx has income sources that bring in good profits compared to other secret portals. However, this platform is quite different compared to similar marketplaces. It acts as a message between sellers and buyers rather than affiliating seller harvests. So now it is a while to know the bases of revenue closely.
One of the significant sources of revenue for this platform comes through Google Ad monetization. Other sources of income include Google custom ad search, advertisements, Sponsored listings,s and sponsored links. I am so wondering how they make money through Google Ads.
Premium or Future of OLX Autos Schedules
Since this platform is a classifieds portal, persons will keep creating give in to listings. So as time passes, the old entry will bury under new programs. Let’s talk about it with a sample if you have added an item to sell a bike. Even after some time, you must receive a call from the buyers. What do you think? This is because your listing will be repressed under other latest listings.
So the buyers would miss your listing as it would have gone to the last side. If the seller wants their listing to appear on the first page or top of Olx, they can pay. Likewise, the sellers can pay Olx if they plan to feature their listings on this platform’s website.
This way, sellers can continually stay on top of the buyer’s mind, and Olx also makes good money. Premium listings are also another vital source of income for this platform.
Banners / Sponsored ads in OLX Autos
Another source of revenue for Olx comes from Banner and sponsored ads as this platform is prevalent and has high traffic coming through. In addition, many other businesses want to display their ads or banners. These ads are similar to Ad-sense ads. And the best part is that Olx itself completely controls these. So all the income made through these ads will belong to this platform itself.
Conclusion
Olx autos have been in the market for a long time. It has made its place in the market and has gradually increased its user base. However, it is a classified portal. It has made itself different and unique. Most people are curious about the way it makes money. From sponsored listings to Google ads, it drives revenue through other sources. This business has a firm footing in Brazil, Poland, and India. They are concentrating on developing countries or less-developed countries as they have a lot of opportunities there.