a leading e-commerce platform for pre-owned vehicles and operating in over 130
cities in India is set to further strengthen its foothold in the Southeast
Asian and Middle East markets in 2021. The
company recently launched its business in Australia and UAE.
has earmarked an investment of over $100Million for international markets in
2021. These investments will be used to build the brand in these new
territories coupled with a strong supply of cars for the platform, and a
state-of-the-art workshop to recondition cars to ensure top quality.
part of its expansion strategy, Cars24 will use its India playbook to expand
globally and continue to invest in technology to transform the consumer
experience in buying-selling cars.
the last six years, we have worked very hard to revolutionise the way our
consumers buy or sell their cars in India. Interestingly, the pain points of
used car consumers across the globe remain pervasive. We are sure with our
expertise and experience of operating in a diverse market like India, we will
be able to cater to the needs of our new customers as well,”’ said Vikram
Chopra, Co-Founder and CEO, Cars24.
further added, “Our expansion into the markets of UAE, Australia and Southeast
Asia mark a milestone moment in the growth of Cars24 as we introduce a whole
new world of cars to our new audiences. Cars24 is well-poised for explosive
growth internationally and we will continue to offer our burgeoning roster of
offerings to newer markets that have been at the forefront of embracing new
technology and innovation.”
Cars24 is shipping cars to customers across Dubai, Abu Dhabi and Sharjah and to
Brisbane in Australia, shortly followed by Sydney and Melbourne as well. Cars24
aims to offer these customers an easy, seamless and a transparent car buying
and selling experience.
are delighted to be spearheading the global expansion of Cars24 in the
Australian market. Australia is a car-loving nation of consumers who have had
no alternative to the traditional used car buying model - until now.
Australians are truly ready to embrace 100% online car buying; and with the
support of our founders, we have incredibly high expectations for our growth in
this market.”, said Olga Rudenko - GM Australia, Cars24 Australia.
is the largest online transaction platform for pre-owned vehicles in India.
Founded in 2015 by Vikram Chopra, Mehul Agrawal, Ruchit Agarwal and Gajendra
Jangid, it offers an efficient, reliable, and hassle-free transacting
experience to customers to buy and sell pre-owned vehicles (cars and bikes) as
well as financing options.
is the first player in the pre-owned vehicle industry to procure a non-banking
financial company (NBFC) license and launch consumer lending business with Cars24
Financial Services and two-wheeler segment Bikes24. It is backed by marquee
investors like Sequoia India, Exor Seeds (venture arm of Exor, one of the
world’s leading holding companies controlled by the Agnelli Family), DST
Global, Kingsway Capital (London based multi-billion US$ fund), Unbound (global
investment firm headquartered in London), Moore Strategic Ventures and KCK
(Silicon Valley & New York based investment firm).
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