Ola unveils 'Ola Cars' for vehicle buying, here's how new platform will work

Ola has launched a vehicle commerce platform that will enable customers to buy new and pre-owned vehicles through the Ola app.

New Delhi: Ride-hailing platform Ola on Thursday announced the launch of its vehicle commerce platform that will enable customers to buy new and pre-owned vehicles through the Ola app. The Bengaluru-based company is also looking at scaling the reach of the platform ? Ola Cars - to 100 cities by next year.

"Ola Cars will begin with pre-owned and, over time, Ola will open it up for new vehicles from Ola Electric and other automotive brands as well...Starting with 30 cities, Ola Cars will soon scale up to over 100 cities by next year," it said in a statement on Thursday.

Ola Cars will offer a bouquet of services to customers, beginning with purchase, vehicle finance and insurance, registration, maintenance, including vehicle health diagnostics and service, accessories and finally, resale of the vehicle back to Ola Cars, the statement added. 

"It will be a one-stop-shop for customers looking at hassle-free buying, selling and managing their cars," it added. (Also Read: Bank of Baroda slashes interest rate on home loans: Check and compare latest rate with SBI, LIC)

Ola Cars will compete with players like Droom, CarDekho and Cars24, among others.

The company has also announced the appointment of former Amazon India and Reliance Trends executive Arun Sirdeshmukh as Chief Executive Officer of Ola Cars.

He brings more than 30 years of experience in the consumer internet, FMCG, retail and fashion industries. He will oversee the entire sales and distribution, service, marketing, customer support, and go-to-market strategy for the business.

In August, Ola Electric unveiled its Ola S1 electric scooter in two variants -- S1 and S1 Pro.

Ola founder and CEO Bhavish Aggarwal said customers are looking for a new way to buy, service and sell their vehicles. (Also Read: Alia Bhatt invests in IIT-Kanpur backed startup, check other startups backed by actor)

"They are no longer satisfied with the archaic retail store mode. They want more transparency and a digital experience. With Ola Cars, we are bringing a completely new experience for buying, selling and overall ownership for both new and owned vehicles," he added.

Sirdeshmukh said with Ola Cars, the company is completely reimagining not just buying and selling but also vehicle finance, insurance, as well as maintenance - end-to-end digital-first experience for customers.

"We have plans to expand aggressively over the next few months across India and international markets and also launch new verticals in this business, including pre-owned two-wheelers and new vehicles,? he said.