Cars 24 has started Selling in 30+ cities; aggressive plan to expand to 100+ cities

Gurugram, December 18, 2019: CARS24, India?s leading tech platform for used cars, today announced that consumers can now BUY cars from its platform. Cars24 has established itself as the leading buyer of used cars in India and will now offer thousands of genuine cars across 30 cities in India. To 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 financing.

The 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 dream car basis their requirements and takes care of all paperwork including RC transfer. If not satisfied, the company has also introduced a buyback guarantee feature for the buyers.

Over the last 4 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.

Commenting on the adoption of the new business model, Mr. Vikram 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.?


About CARS24

CARS24 is a growing tech platform that offers an efficient and reliable platform to customers to buy and sell used cars. It enables car owners to sell their cars within an hour of a single visit to one of their many CARS24 branches. Apart from instant payment, the company also takes complete responsibility of all the paperwork including RC transfer and enables end to end transaction. The company, in-turn, sells these cars online through its proprietary auction platform to businesses across India, dealing in pre-owned cars. Within 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 some of the marquee 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 firm).

User :- Ritika Dhingra

Email :-ritika.dhingra@genesis-bcw.com