Founded in 2015; Revenue of Rs. 6,000 Crore in FY22, How did Cars24 achieve this?

An e-commerce platform for cars, bikes, and autos, Cars24 is a startup that offers a wide range of certified vehicles with convenient home delivery facilities. With the AI-enabled pricing system that empowers the startup, CARS24 can display the accurate market price and the appraisal value of the vehicle. The startup is one of the fastest-growing second-hand car marketplaces in the country. It consists of a portal, and sellers can make their transactions personally and get paid instantly.

Company Highlights: Cars24

Company Name- Cars24
Founders-Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, and Vikram Chopra
Headquarters-Gurgaon, Haryana
Competitors-CarDekho, Droom, Olx
Funding- $1.52 Billion
Contact- 1800 258 5656

Founder’s Story of Cars24

The automobile industry has been a chaos ever since it started, and the founders made keen observations in the market, such as loopholes, technological advancements, etc. When the startup began, the founders had one vision in their mind, to put an end to all these problems in the industry and help customers in finding smooth deals.

Cars24 Mission

“Our mission is to revolutionize the way used cars are bought and sold across the world.”

Vision of Cars24

The vision of the startup is to revolutionize how used cars can be sold; by coming up with a more efficient and reliable method. 

Business Model of Cars24

The model followed by Cars24 is that they ensure that the buyers are offered the best price to purchase the vehicle. Basically, what CARSs24 aims to offer Indian consumers is an alternative to other tedious means of selling a used car, thus making this process simple and convenient. The car owners are able to sell the car easily in one single visit to any branch of the startup as it offers a guaranteed price on any vehicle, regardless of the model, condition, or age. 

The startup also handles the legal documentation of the registration of any vehicle. This company mainly operates in areas like automotive, e-commerce, retail, and used car trade, and has grown tremendously since its inception based on this stellar model.

Future Plans of Cars24

The company plans to expand across the Middle East, Australia, and Southeast Asia. It is also eyeing on $2 Billion worth of revenue by the year 2023. It’s also planning to diversify into more vehicles, such as bikes. 

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