CarTrade Technologies has made a strategic decision to close the auto sales business of OLX, a move prompted by challenges in the unit economics of the operation. This decision follows CarTrade’s acquisition of Sobek Auto India, which encompassed both the OLX Autos C2B transaction segment and the OLX classifieds business.
The move to discontinue the auto sales division of OLX comes two months after the Sobek Auto India acquisition. Despite this change, Sobek will maintain and continue to grow its classified business, ensuring that it can continue to serve its users effectively.
CarTrade’s decision to shut down the C2B operations of the auto transaction business aligns with their strategic goals, as they navigate the ever-evolving dynamics of the automotive marketplace. This development underscores CarTrade Technologies’ commitment to optimizing its portfolio and focusing on segments that align more closely with its objectives.
Exciting news! We’re now on WhatsApp Channels too. Subscribe today by clicking the link and stay updated with the latest insights in the startup ecosystem! Click here!
