The song title stands for Oliver Bonas and the Chelsea Tractor.
Oliver Bonas is an upmarket British lifestyle store chain that sells luxury fashion, jewelry, accessories, and homeware.
A Chelsea Tractor is a large and expensive four-wheel drive vehicle which is driven in towns and cities as a status symbol rather than off-road.
The song was inspired by Sleaford Mods singer Jason Williamson wrestling with his own conscience, having recently moved into a posh suburb populated by Oliver Bonas stores and Chelsea Tractor four-wheel drives.
The song finds Jason Williamson railing against fakes. He explained to Uncut magazine that OBCT, "is a comment on the mythology of the personalities that certain rock and pop stars put over. The reality is that it's just a big con. It's important to keep yourself married to proper creativity and not let yourself get carried away by their stupid machine."
The song features the kazoo, which can be more usually be heard in jug bands and comedy music. Asked by Uncut why he included the kazoo, Williamson explained he'd had been thinking of incorporating the musical instrument for a long time but both his wife and Sleafords partner Andrew Fearn had said no. The singer went ahead anyway and he feels it makes the song sound "a bit Goth."