Olx emerges as biggest online platform for used two-wheeler market

Neelanjan

Neelanjan Chakraborty, Motorcycle Nut, will ride, preferably race anything on two wheels!

1.56 million two-wheelers were sold on Olx in 2016.

Olx claims to have a 75 percent market share of India’s online used two-wheeler market space. A survey conducted by Frost and Sullivan, which interviewed 3600 respondents face-to-face, concluded that Olx has the highest awareness in the pre-owned two-wheelers category, three times higher than that of the closest competitor.

Bajaj Pulsar AS 200 Launched In Pune Right Side Profile
Bajaj Pulsar emerges as the most searched motorcycle in OLX.

Used two-wheeler market, just like the used car market, is still in a very nascent stage. Olx users reporting the highest awareness-to-visit conversion in the category, and 75 percent of Olx sellers saying that they found a buyer on Olx.

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Of all those who considered buying used two-wheelers online, three out of five buyers said that they completed their final purchase on Olx, a figure that was almost four times that of Olx’s nearest competitor according to the survey. Mr Amarjit Singh Batra, CEO, Olx India said

India is predominantly a two-wheeler market but there was no organized platform for buying and selling of two-wheelers before Olx entered the space. While one in four pre-owned two-wheelers are listed on Olx, our estimates show that Olx has 75 percent market share of the online market for pre-owned two-wheelers in India, which signifies our strength in terms of volume and the overall leadership in the space.

They receive 3.5 million buyer enquiries on used two-wheelers every month. These enquiries result in an average 130,000 transactions per month on the platform, generating a combined sale value INR 488 crores per month. This implies an average sale or purchase cost of each two-wheeler on Olx is approximately INR 37,000 per unit.

Also Read: Yamaha working on new 850 cc adventure motorcycle – Report

Harley Davidson Street 750 side view
With Olx commanding a 75 percent market share, the Harley-Davidson Street 750 is the most searched premium motorcycle.

Most popular two-wheeler models include the Bajaj Pulsar, Royal Enfield Bullet and Honda Activa while the Harley-Davidson Street 750 takes the prize home for the most popular premium bike followed by the KTM Duke series.

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