OLX India, part of CarTrade Tech, has entered into partnership with IDFC FIRST Bank to launch a used-car loan offering for OLX India users. The partnership brings together OLX India, India’s large base of used-car buyers and sellers with IDFC FIRST Bank’s vehicle financing capabilities to offer eligible customers a differentiated loan proposition curated for OLX India users. OLX India engages with around 3 million used-car sellers and 20 million used-car buyers annually across its platforms. The offering is designed to make used-car financing more relevant, accessible and aligned to the needs of digital-first customers.
India’s used-car market is entering a strong growth phase, driven by rising demand for affordable mobility, increasing digital discovery and growing consumer preference for valueled vehicle ownership. The market has already crossed nearly 5.9 million annual transactions and is projected to approach 9.5 million transactions by 2030, representing a 4-5 lakh-crore transaction opportunity. With CarTrade Tech’s consumer marketplaces hosting more than 63% of India’s online used-car listings, OLX India is well positioned to help unlock the next phase of growth in this ecosystem.
The partnership is aligned with CarTrade Tech’s broader strategy of building a technology-led, asset-light ecosystem that enables discovery, trust, affordability and transactions across India’s used-vehicle market.
CarTrade Tech is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. Its platforms operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, AutoBiz and OLX India.
