Cars24
 | The topic of this article may not meet Wikipedia's general notability guideline. (May 2026) |
 | |
| Type | Private |
|---|---|
| Industry | Used cars |
| Founded | 2015 |
| Headquarters | , India |
Area served | India Thailand Australia UAE[1] |
Key people |
|
| Services |
|
| Revenue |  ₹5,535 crore (US$570 million) (FY23)[2] |
 ₹−468 crore (US$−49 million) (FY23)[2] | |
Number of employees | 6,000+ (2023)[2] |
| Subsidiaries | Cars24 Financial Services |
| Website | cars24.com |
Cars24 is an Indian multinational online used car marketplace headquartered in Gurgaon.[3] The company is considered among the four major organised players in the used car segment in India.[4]
History
[edit]Cars24 was founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal.[5] The company was an online platform enabling car owners to sell used vehicles through a digital process involving inspections and price discovery.[6] In 2021, the company expanded its operations internationally to the United Arab Emirates, Thailand and Australia.[7].
The Cars24 platform facilitates the transaction and has an offline presence.[8] Apart from selling used cars, the company's services include paperwork such as transferring the car to the name of the new owner which enables end-to-end transactions and offers an online auction platform to businesses looking to sell their pre-owned cars.[9] In 2019, the company started offering verified used cars where the company offered a buyback guarantee on the vehicles verified by inspection.[10]
The company operates 202 branches across 73 cities in India as of 2019.[11] Apart from its own branches, the company has a tie-up with more than 10,000 channel partners across 230 cities in India.[9] The company touched 150,000 annual car sales in 2019.[12]
In May 2020, the company launched Cars24 Moto.[13] Cars24 Moto is a service which allows customers to sell used two-wheelers such as motorbikes, mopeds and scooters on its platform. It also launched a service offering vehicles inspection services at the customers location in place of their branch.[14][15]
References
[edit]- ↑ "Cars24 to reduce burn rate further, target 'sustainable growth'". The Economic Times. Retrieved 31 December 2022.
- 1 2 3 "Cars24 registered marginal growth in revenues in FY23". Moneycontrol. 30 October 2023. Retrieved 3 November 2023.
- ↑ Gooptu, Biswarup (14 May 2019). "Cars24 set to pick up $80 million from backers". The Economic Times. Retrieved 10 July 2020.
- ↑ "Mahindra First Choice plans to have 1,300 dealerships by Mar". Outlook India. PTI. Retrieved 10 July 2020.
- ↑ "Cars24: Founders, funding and business model". Inc42. Retrieved 29 January 2026.
- ↑ "Online used-car marketplace Cars24 nears $250 million funding round". The Economic Times. 28 June 2021.
- ↑ "Cars24 eyes $2 Bn in revenue by FY23 on back of international expansion, financing services". Inc42. Retrieved 29 January 2026.
- ↑ Ghaswalla, Amrita Nair (20 February 2017). "A new turn to used-car sales". The Hindu Business Line. Retrieved 14 July 2020.
- 1 2 Mukul, Jyoti (28 June 2020). "Used auto startup CARS24 develops vehicle matching app for dealers". Business Standard India. Retrieved 10 July 2020.
- ↑ "Consumers Can now Buy Cars from CARS24". Business World India. Retrieved 10 July 2020.
- ↑ "The One Who Solves Supply Shall Create The Biggest Auto Company In India Vikram Chopra CARS24". Business World India. Retrieved 10 July 2020.
- ↑ Chowdhary, Sudhir (29 July 2019). "Cars 24: Now buy and sell used cars sans any hassles". The Financial Express. Retrieved 10 July 2020.
- ↑ Chaudhary, Vikram (22 June 2020). "Cars24's two-wheeler vertical to be called Cars24 Moto: 200+ bikes, scooters sold post lockdown". The Financial Express. Retrieved 14 July 2020.
- ↑ "CARS24 introduces pre-owned two-wheeler sales on its platform". Outlook India. PTI. Retrieved 10 July 2020.
- ↑ Singh, Rajiv. "Cover Story: How Covid-19 Has Forced A Clutch Of Startups To Pivot". Forbes India. Retrieved 10 July 2020.