a leading tech platform for used cars, was till recently a very popular
platform for people to sell their used cars. Now the company has announced that
consumers can buy cars from its platform. It will now offer thousands of
genuine cars across 30 cities in India.
ensure a smooth customer experience and to make the selling and buying process
transparent, the company has further introduced several industry-first services
such as buyback guarantee, car condition verification and accessible consumer
unique new business model involves a thorough car verification process that
undergoes over 150 inspection points. To ensure transparency, the buyers have
access to a complete health report of the car. The entire car buying process is
handled by Cars24 car experts who help buyers identify their car of choice
based on their requirements and take care of all paperwork including RC
transfer. If not satisfied, the company has also introduced a buyback guarantee
feature for the buyers.
the last four years, Cars24 pioneered a mobile auction platform that has helped
over 200,000 car owners to sell their cars to businesses dealing in pre-owned
cars nationwide. The model made selling a car fast and hassle free while
helping sellers discover fair price for their car through auctions. The company
has now expanded its buyer base to also service direct end buyers.
Chopra, Co-founder and CEO, Cars24 said, “Car buying experience has always been
a worrisome affair due to lack of trust, transparency and right set of
information. We were getting a huge demand from people looking to buy pre-owned
cars. While we are already solving the challenges of selling pre-owned cars, we
wanted to replicate the similar model for buyers too and offer convenient and
safer option to buy cars. With the new offering, we hope to further enhance our
reach and strengthen our bond with our consumers as they can now sell and buy
cars from the same platform without any trouble. We are expecting to reach over
1 million potential buyers in 100+ cities by 2020.”
a few years of its inception, the company has witnessed an exponential growth and
currently employs over 3000 people across India and has grown rapidly, making
it a leading player in Indian used car sector. With over 10,000 trusted channel
partners from more than 230 cities across India, Cars24 has over 191+ branches
in 62 cities. The company is backed by investors like Sequoia India, Exor Seeds
(a venture fund affiliated with one of the world’s leading holding companies
controlled by the Agnelli Family), Apoletto (the investment vehicle of DST
Global’s billionaire founder Yuri Milner), Kingsway Capital (London based
multi-billion US$ fund) and KCK (Silicon Valley & New York based investment
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