Ola has been keen to bring out their electric scooters for sale. Now the ride-hailing startup is planning on its next venture. It has been reported that they might enter into the retailing of used cars. This area has been witnessing an increase in sales as customers started looking for affordable personal mobility due to the pandemic.
The venture will be named Ola Cars as Economic Times reports after getting in touch with a person aware of the project. He also added that Ola’s platform will ensure that the cars will be in good condition before they are sold. We are not aware whether the company will bring a separate app exclusively for this business.
It has been reported that the company is already building a team for Ola Cars. The project is expected to begin in Bengaluru this month as reported by Entrackr. The company has not given an official announcement but a Facebook account under the name Ola Cars had posted “More value, less hassle—selling your car made easy,” on July 21.
India’s used car business is highly fragmented and startups like CarDekho. Cars24, Droom, Spinny, and CarTrade are already in this business.