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Updated: OLX launches physical used car stores Cash My Car

Online classifieds platform OLX has launched physical stores called "Cash My Car" for the sale of second-hand cars in a joint venture with German startup Frontier Car Group. Frontier is backed by the OLX Group. Olx said that 27 Cash My Car stores were already operational in Delhi NCR (including Noida, Gurgaon, Ghaziabad, and Faridabad) Bangalore, Mumbai, Hyderabad, Pune, Chennai. It plans to expand to 150 stores in 40 cities by the end of 2021. OLX claims to have 1,000 active buyers on the platform, and expects rapid growth. It claims that 'a few thousand' customers have sold cars on the platform. When asked about how the platform will be monetized, OLX India VP Amit Kumar, who also heads OLX Cash My Car, said that the company is evaluating those options, without mentioning any specifics. He said it would expand to other cities based on the car density per capita and projected growth, which "typically translates to the top Tier-1 and Tier-2 towns." How it works Cash My Car's process is modeled on FCG's process — An OLX Cash My Car personnel inspects a seller's car for free after they request an inspection. The car can be inspected at a Cash My Car store or at another location. The personnel will check the car's physical condition and paperwork, after which the car is auctioned online to Cash My Car partners. Sujay Tyle, co-founder and CEO of FCG, said that Cash My Car runs 'live' auctions, and seller can see the process and…

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