{{Short description|Indian motorcar-trading platform}} {{Use dmy dates|date=July 2018}} {{Use Indian English|date=July 2018}} {{Infobox company | name = CarTrade | logo = CarTrade Logo.jpg | type = Public | traded_as = {{Unbulleted list|{{NSE|CARTRADE}}|{{BSE|543333}}}} | ISIN = INE290S01011 | foundation = 2009 | founders = Vinay Sanghi<br> Rajan Mehra | location = Mumbai, Maharashtra, India | key_people = Vinay Sanghi (Chairman and MD) | industry = Automotive | num_employees = 1,400+ | area_served = India | services = Online auto classifieds | revenue = {{nowrap|{{up}} {{INRconvert|555|c}}}} (FY24)<ref name="fy24"/> | operating_income = {{nowrap|{{up}} {{INRconvert|164|c}}}} (FY24)<ref name="fy24"/> | net_income = {{nowrap|{{up}} {{INRconvert|82|c}}}} (FY24)<ref name="fy24">{{cite web |title=Investor Presentation - Q4 FY24 Quarter ended |url=https://www.bseindia.com/xml-data/corpfiling/AttachHis/624f92a2-9279-4017-a503-aca1a063861b.pdf |website=BSE |publisher=CarTrade Tech Limited |access-date=26 June 2024}}</ref> | products = {{plainlist| *CarTrade *CarWale *BikeWale *Shriram Automall *Adroit Auto *CarTradeExchange *OLX India}} | subsid = | homepage = {{url|cartrade.com}} }}
'''CarTrade.com''' is an Indian online auto classifieds platform serving as a marketplace for users interested in buying and selling new and used vehicles.<ref name="BS-CT">{{citation |last1=Das |first1=Sohini |title=Used-car market rides the technology wave |date=20 January 2014 |url=http://www.business-standard.com/article/companies/used-car-market-rides-the-technology-wave-114012000038_1.html |website=cartrade.com/ |access-date=28 December 2023}}</ref> Headquartered in Mumbai, the company also owns other vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall, the vehicle inspection company Adroit Auto, and the classifieds portal OLX India.
==History== In August 2009, Vinay Sanghi and Rajan Mehra established a used vehicle platform called MotorExchange.in. The company acquired the used car marketplace CarTradeIndia.com in the same month.<ref>{{cite news |last1=Gooptu |first1=Biswarup |date=22 October 2010 |title=Motor exchange: Trading in used cars |work=The Economic Times |url=https://economictimes.indiatimes.com/india-emerging/motor-exchange-trading-in-used-cars/articleshow/6792805.cms |access-date=28 December 2023}}</ref><ref>{{cite news |last1=Pahwa |first1=Nikhil |date=11 August 2009 |title=B2B Auto Biz MotorExchange Acquires CarTradeIndia |work=MediaNama |url=https://www.medianama.com/2009/08/223-b2b-auto-biz-motorexchange-acquires-cartradeindia/ |access-date=28 December 2023}}</ref> The two platforms were rebranded as CarTradeExchange.com and CarTrade.com respectively in 2014.<ref>{{cite news |last1=SN |first1=Vikas |title=CarTrade raises Rs 185 cr from Warburg Pincus, Tiger Global & Canaan Partners |url=https://www.medianama.com/2014/10/223-cartrade-rs-185-cr-investment/ |access-date=16 March 2023 |work=MediaNama |date=14 October 2014}}</ref>
In November 2015, CarTrade acquired CarWale, an online classifieds portal, and its associated websites in an all-cash deal.<ref>{{Cite news|title = CarTrade acquires rival CarWale |url = http://timesofindia.indiatimes.com/tech/tech-news/CarTrade-acquires-rival-CarWale/articleshow/49776146.cms|website = The Times of India| date=14 November 2015 |access-date = 2015-11-24}}</ref> In May 2017, CarTrade acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal.<ref>{{Cite news|url=http://economictimes.indiatimes.com/small-biz/startups/cartrade-acquires-vehicle-inspection-adroit-inspection/articleshow/58508031.cms|title=CarTrade acquires vehicle inspection Adroit Inspection|date=2017-05-04|work=The Economic Times|access-date=2017-08-11}}</ref>
In January 2018, CarTrade acquired a 51% stake in Shriram Automall from Shriram Group. This acquisition made CarTrade India's largest online and physical marketplace for cars.<ref name=":0">{{cite news |last1=Thakkar |first1=Ketan |title=CarTrade acquires 51 per cent in Shriram Automall to create India's largest online vehicle transaction platform |url=https://economictimes.indiatimes.com/cartrade-acquires-51-per-cent-in-shriram-automall-to-create-indias-largest-online-vehicle-transaction-platform/articleshow/62634517.cms |access-date=2 June 2021 |work=The Economic Times |date=25 January 2018}}</ref>
In August 2021, CarTrade Tech Limited launched its initial public offering (IPO) and got listed on NSE and BSE.<ref>{{cite news |date=August 21, 2021 |title=No IPO magic for CarTrade, loses 7.3% on debut day |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/ipos/fpos/no-ipo-magic-for-cartrade-loses-7-3-on-first-day/articleshow/85499153.cms |access-date=28 December 2023}}</ref>
In February 2023, CarTrade set up CarTrade Ventures to acquire and invest in automotive technology companies.<ref>{{cite news |title=CarTrade launches CarTrade Ventures, plans to invest Rs 750 crore in automotive space |url=https://economictimes.indiatimes.com/tech/technology/cartrade-launches-cartrade-ventures-plans-to-invest-rs-750-crore-in-automotive-space/articleshow/98185585.cms |access-date=16 March 2023 |work=The Economic Times |date=23 February 2023}}</ref>
In July 2023, CarTrade acquired OLX India's classifieds and auto sales business for {{INRConvert|537|c}}.<ref>{{cite news |title=CarTrade Tech says it owns classifieds platform OLX's entire India business |url=https://economictimes.indiatimes.com/tech/technology/cartrade-tech-says-it-is-acquiring-entire-india-biz-of-classifieds-platform-olx/articleshow/101706594.cms |access-date=26 June 2024 |work=The Economic Times |date=13 July 2023}}</ref> In October 2023, CarTrade announced the closure of OLX India's auto sales division but continued to operate the OLX classifieds platform.<ref>{{cite news |last1=Bhatnagar |first1=Rishabh |title=CarTrade To Shut OLX's Auto Sales Business On Unit Economics Woes |url=https://www.ndtvprofit.com/business/cartrade-to-shut-olxs-auto-sales-business-on-unit-economics-woes |access-date=26 June 2024 |work=NDTV Profit |date=25 October 2023 |language=en}}</ref>
== Services== CarTrade operates as a platform for business-to-business (B2B) and business-to-consumer (B2C) operations. The service is divided into two sets – CarTrade.com, the B2C portal where users can buy and sell new and used cars, and CarTradeExchange.com, the B2B dealer portal which allows dealers to manage their online auctions and sales.<ref name="BS-CT" /><ref>{{cite web |last=Das |first=Sohini |date=November 3, 2014 |title=Cartrade.com plans to launch multiple products on mobile platform |url=http://www.business-standard.com/article/companies/cartrade-com-plans-to-launch-multiple-products-on-mobile-platform-114110300001_1.html |access-date=3 November 2014}}</ref>
Other than the online marketplace, it has a physical presence with a network of over 4,000 dealers across 80 cities in India.{{cn|date=May 2024}} The website currently lists over 1,65,000 certified used cars.<ref>{{cite web |title=Cartrade com showcases its wide choice of used cars through its latest |url=http://www.apnnews.com/2015/06/25/cartrade-com-showcases-its-wide-choice-of-used-cars-through-its-latest/ |archive-url=https://web.archive.org/web/20150701183801/http://www.apnnews.com/2015/06/25/cartrade-com-showcases-its-wide-choice-of-used-cars-through-its-latest/ |archive-date=2015-07-01 |access-date=25 June 2015}}</ref><ref>{{citation |url=http://www.livemint.com/Industry/dJOmS1HNhnByaH98qZtEGI/Preowned-luxury-cars-gain-traction-among-buyers.html|last1=Mohile|first1=Shally|date=28 October 2014| website=Mint|access-date=11 May 2016|title=Pre-owned luxury cars gain traction among buyers}}</ref>
Along with car listings, the portal also offers car price information, certification, insurance, used car finance, comparisons, on-road prices, and reviews. The used car certification program is jointly conducted by CarTrade engineers and sellers who inspect the initial condition of cars at different levels, and a detailed condition report is presented as part of the online listing. CarTrade also provides similar services for bikes (new and used) on Bikewale portal.<ref name="CT">{{citation |url=http://www.cartrade.com/company/about-us| website=cartrade.com|access-date=11 May 2016|title=About Us}}</ref>
==Promoters== CarTrade.com is promoted by its founder and CEO, Vinay Sanghi, who is the former CEO of Mahindra First Choice. Rajan Mehra, an Ex-MD at Nirvana Venture Advisors and former country Head of eBay India is also a founder-director in CarTrade. It has received funding from various investors like Canaan Partners, Epiphany Overseas Ventures, Tiger Global, Temasek, March Capital, Austin Ligon, and Warburg Pincus.<ref>{{cite web |date=2016-04-11 |title=Singapore's Temasek, March Capital lead Rs 950-crore investment in CarTrade |url=http://articles.economictimes.indiatimes.com/2016-01-13/news/69735476_1_cartrade-vinay-sanghi-used-cars |archive-url=https://web.archive.org/web/20160118191925/http://articles.economictimes.indiatimes.com/2016-01-13/news/69735476_1_cartrade-vinay-sanghi-used-cars |archive-date=2016-01-18 |website=The Economic Times}}</ref><ref>{{cite web|title=CarTrade.com raises $30M from Warburg Pincus, Canaan & Tiger Global|website=VC Circle|url=http://techcircle.vccircle.com/2014/10/13/auto-classifieds-site-cartrade-com-raises-over-30m-from-warburg-pincus-canaan-partners-tiger-global/|access-date=13 October 2014}}</ref><ref>{{Cite web |title=CarTrade open to more acquisitions in auto, autotech |url=https://www.sgcarmart.com/articles/guide-car-insurance |access-date=2023-12-28 |website=LiveIndia}}</ref><ref>{{cite web|url=http://economictimes.indiatimes.com/small-biz/startups/cartrade-to-venture-into-used-car-financing/articleshow/51183638.cms|website=The Economic Times|title=CarTrade to venture into used-car financing|date=2016-04-11}}</ref>
==See also== * CARS24 * Automotive industry in India
==References== {{Reflist}}
==External links== * [http://www.cartrade.com/ Official website] *{{url|https://www.carwale.com/|Carwale website}} * [https://www.bikewale.com/ Bikewale website]
Category:Companies based in Mumbai Category:Indian companies established in 2009 Category:Internet properties established in 2009 Category:Automotive websites Category:Used car market Category:Warburg Pincus companies Category:2010 establishments in Maharashtra Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange Category:2021 initial public offerings