OLX has partnered with Germany-based Frontier Car Group (FCG) to launch its offline used car selling stores called ‘Cash My Car’. This marks FCG’s first step into the Indian market.
The company claims to have an overall market share of 77% in the Indian used cars segment. Currently, the company operates 27 Cash My Car stores across 10 cities – New Delhi, Gurugram, Faridabad, Noida, Ghaziabad, Bengaluru, Mumbai, Hyderabad, Pune, and Chennai.
“Plans are afoot to aggressively expand the store footprint to 150 by end of 2021 across 40 cities,” a company spokesperson said in a media statement.
According to the tie up, OLX and FCG have agreed to share technological resources, expertise and knowledge to build and operate Cash My Car stores across cities in India.
FCG builds and operates pre-owned automotive marketplaces within emerging markets such as Nigeria, Mexico, Chile, Pakistan, and Indonesia. It is backed by OLX Ventures, the investment arm of OLX’s global classifieds business.
As part of the joint venture, FCG will help set up the technology back-end for Cash My Car and later on help scale the business in terms of operations.