OLX Auto Leaves Mexico, What Will Happen to Customers?

OLX Autos closes its doors in Mexico, Argentina and Colombia, and reduces the size of operations in Ecuador and Peru. The sudden departure is leaving customers wondering what will happen with their purchases and contracts. 

“OLX Autos will close operations in Argentina, Colombia and Mexico. We want to express our most sincere gratitude for the trust and support you have given us throughout the years, and we are deeply sorry that we cannot keep helping you in the future,” reads OLX Autos’ website. The company will maintain operations in the US, Chile, India, Indonesia, Nigeria and Pakistan.

The company buys, sells and finances used cars. It operates mostly online and offers a one-year warranty and a seven-day or 300 kilometers test drive. The company was founded in 2007 by Fabrice Grinda and Alejandro Oxenford. Headquartered in the Netherlands, OLX Autos started expanding its market in 2008 to the Philippines, followed by India, Thailand, Poland, Hungary, Bulgaria, Romania, Ukraine, Belarus, Kazakhstan and Indonesia. In Mexico, OLX Autos was the result of a merger between Vende Tu Auto and Autobastas, with the goal of becoming a key player in the country’s used car market. 

While its website says that “[it] is focused on high performance markets in countries in Latin America, Asia and Africa, where users have benefited from more than one new and safe way to commercialize their used cars,” OLX Autos has pulled back from three Latin American countries. 

The company is closing its operations in Argentina because of the restructuration, which aims to let go of branches that leave them exposed to risks. OLX Autos has closed branches in three countries due to a lack of buyer interest. OLX is the 24th multinational company to leave Argentina, leaving the country in further economic uncertainty.  

The company will remain operational as it sells its remaining inventory and addresses concerns from existing customers. “During the exit process, we will have a dedicated team to manage every stage and answer any questions you may have,” says OLX Autos. The company also assures its previous customers that their contracts will be respected.