Cars24
Online used car marketplace
From Wikipedia, the free encyclopedia
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]
 | |
| 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 |
History
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]