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Ola ties up with Dbest Cars in a historic move

Deal is worth more than 125 crore. Dbest Cars India will assist Ola Fleet Technologies in disposing of more than 5,000 obsolete commercial vehicles.

26 January 2023

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Tanisha

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  • In a deal worth more than 125 crore, Ola Fleet Technologies has teamed up with Dbest Cars India, a commercial used car selling start-up, to dispose of its outdated commercial vehicles.


  • The implementation of legislative measures, such as the BS-VI emission standards and scrappage laws, has produced an environment that encourages the use of used automobiles and the market for them in India.

In a deal worth more than 125 crore, Ola Fleet Technologies has teamed up with Dbest Cars India, a commercial used car selling start-up, to dispose of its outdated commercial vehicles.


All rental or taxi cab service providers must dispose of their old fleet gradually in order to replace it with newer, more modern fleet, as mandated by legislation. A fleet of new cars will take the place of the departing used car fleet. Dbest Cars India will assist Ola Fleet Technologies in disposing of more than 5,000 obsolete commercial vehicles.


Between FY21 and FY26, the Indian used automobile market is predicted to increase at a CAGR (Compound Annual Growth Rate) of 15%, reaching roughly 80 lakh units thanks to factors such as rising motorization rates, shorter vehicle replacement cycles, and increasing penetration of used car financing.


Gulshan Rao, Director of Ola (Risks & Brand Protection), commented on this relationship, “Sale of used commercial cars is totally different from sale of normal used cars (white plate).


For sale and purchase of used commercial cars, there are a lot of obligations which need to be carefully fulfilled and as a responsible company, we need to choose the right partner for this so as to avoid any future disputes.”


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Dinesh Singh, MD & CEO at Dbest Cars India, commented on the alliance:


“We are fortunate to be able to get the opportunity to work with India’s largest radio taxi company and feel proud to have been chosen by Ola to help them dispose-off their thousands of used commercial vehicles. This association will provide an accelerator on the growth of our start-up.” 


The implementation of legislative measures, such as the BS-VI emission standards and scrappage laws, has produced an environment that encourages the use of used automobiles and the market for them in India.


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