{{short description|Online used car marketplace}} {{Notability|date=May 2026}} {{Use dmy dates|date=January 2023}} {{Use Indian English|date=January 2023}} {{Infobox company | name = Cars24 Services Private Limited | logo = Cars24_logo.svg | logo_caption = | type = Private | founded = {{start date and age|2015}} | area_served = India<br />Thailand<br />Australia<br />UAE<ref>{{cite news |title=Cars24 to reduce burn rate further, target 'sustainable growth' |url=https://economictimes.indiatimes.com/tech/startups/cars24-to-reduce-burn-rate-further-target-sustainable-growth/articleshow/96033010.cms |access-date=31 December 2022 |work=The Economic Times}}</ref> | hq_location_city = Gurgaon, Haryana | hq_location_country = India | key_people = {{Unbulleted list| Vikram Chopra|Gajendra Jangid|Ruchit Agarwal|Mehul Agarwal}} | revenue = {{increase}} {{INRConvert|5535|c|lk=on}} (FY23)<ref name="fy23"/> | net_income = {{decrease}} {{INRConvert|-468|c|lk=on}} (FY23)<ref name="fy23">{{cite news |title=Cars24 registered marginal growth in revenues in FY23 |url=https://www.moneycontrol.com/news/business/earnings/cars24-registered-marginal-growth-in-revenues-in-fy23-losses-widened-11623181.html |access-date=3 November 2023 |work=Moneycontrol |date=30 October 2023 |language=en}}</ref> | industry = Used cars | services = {{Unbulleted list|Car sales|Resale Paperwork|Loans}} | num_employees = 6,000+ (2023)<ref name="fy23"/> | subsidiaries = Cars24 Financial Services | website = {{URL|https://www.cars24.com/|cars24.com}} }} '''Cars24''' is an Indian multinational online used car marketplace headquartered in Gurgaon.<ref name="gurgaon">{{cite news |last1=Gooptu |first1=Biswarup |title=Cars24 set to pick up $80 million from backers |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cars24-set-to-pick-up-80-million-from-backers/articleshow/69317411.cms?from=mdr |access-date=10 July 2020 |work=The Economic Times |date=14 May 2019}}</ref> The company is considered among the four major organised players in the used car segment in India.<ref name="major players">{{cite news |title=Mahindra First Choice plans to have 1,300 dealerships by Mar |url=https://www.outlookindia.com/newsscroll/mahindra-first-choice-plans-to-have-1300-dealerships-by-mar/1883111 |access-date=10 July 2020 |work=Outlook India |agency=PTI}}</ref>
==History==
Cars24 was founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal.<ref>{{cite web |title=Cars24: Founders, funding and business model |url=https://inc42.com/startups/cars24/ |access-date=29 January 2026 |publisher=Inc42}}</ref> The company was an online platform enabling car owners to sell used vehicles through a digital process involving inspections and price discovery.<ref>{{cite news |date=28 June 2021 |title=Online used-car marketplace Cars24 nears $250 million funding round |url=https://economictimes.indiatimes.com/tech/funding/online-used-cars-marketplace-cars24-nears-250-million-deal-with-dst/articleshow/84058680.cms |publisher=The Economic Times}}</ref> In 2021, the company expanded its operations internationally to the United Arab Emirates, Thailand and Australia.<ref>{{cite web |title=Cars24 eyes $2 Bn in revenue by FY23 on back of international expansion, financing services |url=https://inc42.com/buzz/cars24-eyes-2-bn-in-revenue-by-fy23-on-back-of-international-expansion-financing-services/ |access-date=29 January 2026 |website=Inc42}}</ref>.
The Cars24 platform facilitates the transaction and has an offline presence.<ref name="facilitating transactions">{{cite news |last1=Ghaswalla |first1=Amrita Nair |title=A new turn to used-car sales |url=https://www.thehindubusinessline.com/specials/emerging-entrepreneurs/a-new-turn-to-usedcar-sales/article9552050.ece |access-date=14 July 2020 |work=The Hindu Business Line |date=20 February 2017 |language=en}}</ref> 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.<ref name="other services">{{cite news |last1=Mukul |first1=Jyoti |title=Used auto startup CARS24 develops vehicle matching app for dealers |url=https://www.business-standard.com/article/companies/used-auto-dealer-cars24-develops-vehicle-matching-app-to-clear-unsold-stock-120062800493_1.html |access-date=10 July 2020 |work=Business Standard India |date=28 June 2020}}</ref> In 2019, the company started offering verified used cars where the company offered a buyback guarantee on the vehicles verified by inspection.<ref name="verified">{{cite news |title=Consumers Can now Buy Cars from CARS24 |url=http://bwdisrupt.businessworld.in/article/Consumers-Can-now-Buy-Cars-from-CARS24/16-12-2019-180527/ |access-date=10 July 2020 |work=Business World India |language=en}}</ref>
The company operates 202 branches across 73 cities in India as of 2019.<ref name="reach">{{cite news |title=The One Who Solves Supply Shall Create The Biggest Auto Company In India Vikram Chopra CARS24 |url=http://bwdisrupt.businessworld.in/article/The-One-Who-Solves-Supply-Shall-Create-The-Biggest-Auto-Company-In-India-Vikram-Chopra-CARS24/15-06-2020-287427/ |access-date=10 July 2020 |work=Business World India |language=en}}</ref> Apart from its own branches, the company has a tie-up with more than 10,000 channel partners across 230 cities in India.<ref name="other services"/> The company touched 150,000 annual car sales in 2019.<ref name="sales">{{cite news |last1=Chowdhary |first1=Sudhir |title=Cars 24: Now buy and sell used cars sans any hassles |url=https://www.financialexpress.com/industry/sme/cars-24-now-buy-and-sell-used-cars-sans-any-hassles/1658946/ |access-date=10 July 2020 |work=The Financial Express |date=29 July 2019}}</ref>
thumb|Old logo of CARS24 In May 2020, the company launched Cars24 Moto.<ref name="CARS24 moto">{{cite news |last1=Chaudhary |first1=Vikram |title=Cars24's two-wheeler vertical to be called Cars24 Moto: 200+ bikes, scooters sold post lockdown |url=https://www.financialexpress.com/auto/car-news/cars24s-two-wheeler-vertical-to-be-called-cars24-moto-200-used-pre-owned-second-hand-bikes-scooters-sold-post-lockdown/1999210/ |access-date=14 July 2020 |work=The Financial Express |date=22 June 2020}}</ref> 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.<ref name="bikes">{{cite news |title=CARS24 introduces pre-owned two-wheeler sales on its platform |url=https://www.outlookindia.com/newsscroll/cars24-introduces-preowned-twowheeler-sales-on-its-platform/1839408 |access-date=10 July 2020 |work=Outlook India |agency=PTI}}</ref><ref name="home inspection">{{cite news |last1=Singh |first1=Rajiv |title=Cover Story: How Covid-19 Has Forced A Clutch Of Startups To Pivot |url=https://www.forbesindia.com/article/coronavirus/cover-story-how-covid19-has-forced-a-clutch-of-startups-to-pivot/60163/1 |access-date=10 July 2020 |work=Forbes India |language=en}}</ref>
==References== {{reflist}}
Category:Companies based in Gurgaon Category:Indian companies established in 2015 Category:Indian brands Category:2015 establishments in Haryana Category:Online automotive companies Category:Used car market