Shaping the Future: OLX India’s Mission in the Pre-Owned Automotive Segment

OLX India has established itself as a key player in the pre-owned vehicle market, redefining the buying and selling experience for millions of users across the country. At the helm of the automotive segment is Siddharth Agrawal, Chief Business Officer (Autos), OLX India, who has been instrumental in driving innovation and strategic partnerships to strengthen the platform’s leadership in this space. In this exclusive interview with Motoarc, Siddharth delves into OLX India’s mission, its technological advancements, and how collaborations with industry giants like IDFC FIRST Bank and Royal Enfield are reshaping the pre-owned vehicle ecosystem. He also shares insights on the opportunities and challenges of navigating India’s burgeoning automotive market and OLX’s relentless focus on trust, safety, and user experience.

OLX India has been a significant player in the pre-owned vehicle market. Can you share your mission for the automotive segment at OLX India?

OLX’s mission is to serve over a billion Indian consumers enabling them with easy access to high-quality used goods and services.. We believe in leveraging product-driven solutions backed by deep consumer insights, including feedback from end-buyers, sellers, and dealer partners to deliver significant value to our consumers.

Protecting consumer trust is our top priority. We are enhancing fraud detection and increasing user verifications to block fraudulent activities, ensuring that our platform remains a secure and trusted space for buying and selling used goods and services. We are deepening our focus on key categories and forming new partnerships across various sectors,  to increase our reach and market relevance.

The recent collaboration with IDFC FIRST Bank for integrated financing solutions is a significant step. How do you see this initiative reshaping the pre-owned vehicle buying experience?

 The Indian pre-owned car financing market is projected to experience phenomenal growth, with a compound annual growth rate (CAGR) of 25%, translating to a market size of Rs. 1600 billion by FY 28 from the current Rs. 485 billion. (Source – OLX Mobility Report FY23-FY28.)

With financing of used cars as a service, we aim to provide more than 35mn OLX customers access to “quick and easy vehicle-financing solutions” directly on the OLX platform.

The partnership with Royal Enfield for certified pre-owned motorcycles is intriguing. What makes OLX the ideal platform for such collaborations?

We aim to establish ourselves as a comprehensive destination for consumer needs, improving their journey of buying and selling used goods and services. By collaborating with established players and OEMs, we will offer our customers comprehensive, seamless, and user-friendly experiences.

Our collaboration with Royal Enfield facilitates seamless access for potential buyers of Royal Enfield bikes to buy certified pre-owned Royal Enfield motorcycles directly through the OLX platform.

How do you leverage technology, such as AI and data analytics, to enhance customer experience and streamline operations in the automotive segment?

OLX India leverages advanced technologies like AI, data analytics, and machine learning to enhance user experience. This includes implementing advanced search algorithms, personalized recommendations, and AI-driven customer support for seamless interactions.

Integrating secure payment gateways and encryption protocols for safe and streamlined transactions.

Offering multiple payment options, ensuring privacy protection, and optimizing the checkout process for enhanced user convenience.

Utilizing data-driven insights to optimize platform features, content, and services based on user behavior and preferences. Improving user engagement, retention, and conversion rates through data-driven strategies and continuous optimization efforts.

With the rise of digital platforms for buying and selling vehicles, how does OLX differentiate itself in this highly competitive market?

With over 50% of Indians now active internet users—a number projected to reach 900 million by 2025 according to a joint report by IAMAI and Kantar—and among the lowest internet access costs globally at just INR 14/GB, India is experiencing a digital transformation. This convergence of factors over the past few years is set to continue, driving the growth of online classified platforms like OLX in the years ahead.

Also, with the increasing consumer awareness around the circular economy in India, which is likely to touch $2 trillion by 2050 (Source: CII), the Indian used goods market is bound to grow at an accelerated pace.

As mentioned above, we have collaborated with key partners to strengthen our offerings. Through our collaboration with used vehicle players such as Cars24users can access a wider range of used cars and bikes. our exclusive partnership with OEM’’s such as Royal Enfield offer certified used cars and bikes, ensuring a reliable purchase experience. Additionally, we also support used vehicle financing for its customers through its strategic partnership with IDFC First Bank, making vehicle ownership more convenient and affordable.

We provide unparalleled customer service through a multi-faceted approach. The platform ensures a seamless experience with user-friendly interfaces, secure transactions, and AI-driven personalized recommendations. Dedicated customer support is available to assist buyers and sellers, addressing their queries and building trust throughout their journey.

What have been the biggest challenges and opportunities in leading the automotive segment at OLX India?

The Indian pre-owned automotive market exhibits a highly competitive landscape with the presence of both organized and unorganized players. The market is expected to reach ₹5 lakh crore by FY28, driven by growing consumer demand for affordable, high-quality vehicles (Source: OLX Mobility Report FY’23 – FY’28)

With over 35 million monthly active users and the largest dealer partner network in India, OLX has a solid foundation to strengthen its presence in the automotive segment and further expand its customer base.

OLX has established partnerships with trusted brands like Cars24 and IDFC First Bank, enhancing its platform’s credibility and providing users with reliable, seamless experiences when buying and selling vehicles.

By offering verified listings, transparent pricing, and strong customer service, OLX builds trust with its users. Continuous innovation and improvements in user experience help OLX maintain its leadership in the competitive online classifieds market, particularly in the automotive segment. Ensuring that we are giving a seamless experience and continue to solve for Trust and Safety for our customers.