Expanding into the vehicle commerce business, Ola Cars has revealed its plan to hire 10,000 employees in the coming 12 months. The Company will expand its operations in 100 cities and set up service centres across the country. At the time of the launch of the Company, Ola released a statement saying that it will be starting operations in 30 cities initially.
By foraying into the used cars business, the Company will soon establish itself as a complete mobility solutions provider.
The move is well timed because in five years’ time, the used car market is predicted to grow from the present 3.9 million units annually, to 8.2 million units a year, which is more than double the estimated figures for the new cars market over the same period.
Ola is eyeing $2 billion gross merchandise value (GMV) for its new vehicle commerce platform in the upcoming year. In its first month, the Company is selling pre-owned vehicles in Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad and Ahmedabad. It is further planning to start operations in Chandigarh, Jaipur, Kolkata and Indore by the end of this week.
According to Arun Sirdeshmukh, CEO, Ola Cars, the Company has already sold 5,000 cars in its first month of operation, and it is gearing to hire majorly for its sales team and service centres.
The Company will also look to open its platform up for new vehicles from other automotive brands as well. “Ola Cars will begin with pre-owned vehicles, and over time, will open up for new vehicles from Ola Electric and other automotive brands as well,” the Company had said in its initial statement.