CARS24

What CARS24 does

CARS24 is an AI-native AutoTech platform founded in 2015 and headquartered in Gurgaon, India, with operations across India, UAE, and Australia. The company operates 187 physical branches spanning 345 Indian cities, complemented by a digital web/app experience that lets consumers browse, value, buy, sell, finance, and service pre-owned vehicles. Core offerings are organized into three interconnected verticals: vehicle transactions (retail and dealer channels), in-house financing through RBI-registered NBFC Cars24 Financial Services (LOANS24), and vehicle ownership services spanning insurance (Insure24), FASTag, challan payments, RC transfer, vehicle history reports, roadside assistance, scrapping, and India's first lifetime powertrain warranty plus a 30-day repair assurance product.

The underlying technology is a single AI-native stack supporting inspection, pricing, refurbishment, financing, document checks, fraud detection, dealer workflows, and ownership services across all three countries. Proprietary capabilities include AI-powered inspection and pricing engines processing 500K+ monthly data points, conversational voice AI handling 700K+ customer call minutes per month, anomaly detection for fraud, and recommendation engines supporting vehicle research. The company describes its operating philosophy as 'Flatland,' an AI-driven organizational model that eliminated job titles/grades and is credited with a 50% YoY rise in revenue per employee and approximately 300 basis points of EBITDA margin expansion.

Revenue is generated primarily through transactional spreads on vehicle buy/sell (approximately 92% of FY25 revenue), financing yields and fees on loan disbursements (Rs 1,789 crore disbursed in FY26, up 57% YoY), commission/marketplace fees from the Auction24 dealer platform (4,000+ registered dealers; ~50,000 cars transacted with dealers annually), and recurring fees from ownership services. Go-to-market combines brand endorsements (MS Dhoni), cricket sponsorships, content marketing through co-published 'Gears of Growth' reports with Team-BHP, dealer channel programs (Unnati financing), and direct-to-consumer digital funnel. The company touched roughly one in four used-car transactions in India, processing approximately 40,000 vehicles monthly across all geographies, served 38M+ monthly active users, and reached its first EBITDA-positive month in January 2026 ahead of a planned IPO.

Name

CARS24

Legal name

Cars24 Services Private Limited

Website

https://cars24.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CARS24 is an AI-native AutoTech platform operating across India, UAE, and Australia, enabling individual consumers and B2B dealers to buy, sell, finance, and service used cars through 187 branches in 345 Indian cities, a single shared tech stack, and an in-house NBFC (LOANS24) plus ownership services spanning insurance, FASTag, and warranty.

Ownership category

akta.pro rank

Product category

Used Vehicle Marketplace

NAICS

Sales Financing (522220)

SIC

Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies (5010), Services-Automotive Repair, Services & Parking (7500)

akta.pro primary industry

Automotive Vehicles & Parts C2C (CRAFAKAE)

akta.pro secondary industries

New & Used Auto Purchase Loans (FSAKADAA), Auto / Vehicle Marketplace Lending (FSAKAHAF), Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans) (FSAKADAL)

Keywords

• Used car marketplace
• Auto fintech financing
• Pre-owned vehicle platform
• Vehicle ownership services
• AI auto inspection

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Vehicle Transactions: Cars24 facilitates the buying and selling of used vehicles through both retail (B2C) and dealer (B2B) channels. The platform purchases cars from sellers, inspects and refurbishes them, and resells to end consumers or through dealer auctions. Core vehicle sales contributed 92% of revenue in FY25.
2. Financing Solutions (Cars24 Financial Services / LOANS24): NBFC unit disburses loans for used car purchases, loan-against-car, and personal loans. Loan disbursements reached Rs 1,789 crore in FY26 (57% YoY growth). Cars24 Financial Services serves as the captive financing arm improving affordability and monetization per transaction.
3. Ownership Services: Post-transaction services including insurance (Insure24), vehicle history reports, challan/traffic fine payments, FASTag management, car service history, vehicle scrap, roadside assistance, warranty products, and RC transfer support. Monetization occurs per transaction and through recurring service usage.
4. Marketplace Facilitation: Dealer platform enabling 20,000+ registered dealers to bid on inventory through auction rails. Cars24 earns from marketplace facilitation, listing fees, and dealer subscription/access services.
5. Advertising (Zomato Partnership): Experimental advertising revenue through converting Zomato delivery bags into mobile advertising billboards (pilot in Bengaluru), positioning everyday delivery objects as brand surfaces.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

CARS24 is an AI-native auto-ownership platform that buys, inspects, refurbishes, and resells used vehicles through company-owned retail hubs and a B2B dealer auction platform across India, UAE, and Australia. The company also provides captive financing through its RBI-registered NBFC (LOANS24 / Cars24 Financial Services) and offers a full suite of post-transaction ownership services including insurance, vehicle history reports, challan payments, FASTag, car scrapping, RC transfer, warranty, and roadside assistance.

Product overview

Cars24 is an AI-native auto-ownership platform structured around three interconnected business verticals: vehicle transactions (buy/sell cars, bikes, and new cars through C2C and C2B channels), financing solutions (through LOANS24/Cars24 Financial Services NBFC offering used car loans, personal loans, and loan against car), and vehicle ownership services (including Insure24 for insurance, vehicle history reports, challan payments, FASTag, car scrap, RC transfer, and roadside assistance). The platform serves 38M+ monthly active users across India, UAE, and Australia with operations spanning 187 branches in 345 cities. Recent acquisitions (Team-BHP in April 2025, CarInfo in January 2026, Vehicle Info in March 2026) have expanded the ecosystem into automotive content, vehicle information, and ownership services. Key customer-facing products include the core marketplace platform, 30-day return policy, lifetime powertrain warranty (India's first), 30-day repair assurance ('Welcome Cover'), and the new Cars24 Labs AI initiative. Cars24 also operates Bikes24 for two-wheelers and has partnered with Tesla for EV trade-ins.

Differentiator

Problem solved

Functional benefit

Brands

• LOANS24: Financing services platform providing used car loans, personal loans, and loan against car
• Cars24 Financial Services
• Cars24 AI Labs
• Welcome Cover
• Crashfree India

Products and services

• Cars24 Platform (Core Marketplace) AI-native auto-ownership platform enabling buying and selling of used cars, bikes, and new cars through C2C and C2B channels, with 300-point inspections, fixed-price transactions, and end-to-end digital transaction support across India, UAE, and Australia.
• LOANS24 (Cars24 Financial Services) NBFC-operated financing platform offering used car loans, loan against car, personal loans, and credit score checking, serving Cars24's buyers and sellers with captive financing options.
• Insure24 Vehicle insurance aggregation and renewal service integrated into the Cars24 platform, enabling customers to compare and purchase car insurance policies.
• Vehicle History Report Comprehensive vehicle history check service providing records of past servicing, accident/repair history, odometer readings, challans, ownership details, and OEM specifications sourced from RTO databases, service networks, and insurance records.
• Challan Payment Service Traffic challan/ticket payment service allowing users to view and pay outstanding traffic violations across India through the Cars24 platform, including e-Challan for Telangana.
• FASTag Service RFID-based toll collection tag purchase and recharge service, partnered with multiple banks and institutions for NETC-enabled toll payments and parking at airports and malls.
• Car Scrap Service End-of-life vehicle disposal and scrapping service helping customers scrap their old cars with proper documentation and environmental compliance.
• RC Transfer Service Registration Certificate transfer tracking and management service enabling sellers and buyers to track ownership transfer status, with seller protection policy covering post-sale liabilities during pending transfer.
• Vehicle Info Automotive utility application providing RTO vehicle information, challan payments, insurance status checks, service history records, resale value insights, and driving licence exam preparation tools.
• Team-BHP Automotive community platform providing car enthusiast community content, reviews, and co-publishing the annual 'Gears of Growth' used car market report with Cars24.
• CarInfo Delhi-based vehicle information startup providing RTO, insurance, and vehicle management information, integrated into Cars24's full-stack ownership platform.
• Welcome Cover (30-Day Repair Assurance) 30-day/1,500 km repair assurance on all inventory-listed used cars, covering major mechanical components and wear-and-tear items with unlimited claims and no deductibles at authorized service centres.
• Lifetime Powertrain Warranty India's first lifetime powertrain warranty covering engine, transmission, and drivetrain for up to 12 years or 150,000 km on certified vehicles, requiring annual servicing at Cars24-certified workshops.
• Cars24 Labs $20 million AI build, partner, and investment arm for accelerating AI innovation with collaborations across OpenAI, ElevenLabs, and AWS, plus investments in early-stage AI startups.
• Live Video Car Tours (UAE) Real-time guided vehicle tour feature available through the Cars24 Arabia mobile application, allowing interested buyers to request live video tours of vehicles in UAE.
• All-Women Car Hub (Saket) India's first all-women automotive retail hub where every role (Car Advisors, Operations Managers, Hub Leadership) is led entirely by women, with plans to expand across Indian metros.
• Tesla ICE-to-EV Exchange Programme Integrated trade-in programme enabling customers to exchange petrol/diesel vehicles for Tesla Model Y with combined exchange bonus, handling end-to-end process including inspection, valuation, pickup, payment, and ownership transfer.
• CredMate Locally-developed financing product offered in Australia as part of Cars24's strategy to expand financing offerings in international markets.
• Price Match Guarantee (Australia) Price protection guarantee offered in Australia ensuring customers receive competitive pricing on used vehicles, part of Cars24's customer-first policies.
• Crashfree India National road safety initiative partnered with MS Dhoni as Goodwill Ambassador, aiming to achieve zero road fatalities in India by 2040.

Quantifiable outcome

• Revenue per employee increased 50% in H2 FY26 through AI adoption
• +7 more outcomes

Named customers11 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• ZomatominorGTM or Marketing Partner · 22 June 2026Pilot advertising partnership converting Zomato delivery bags into mobile advertising billboards in Bengaluru. Thousands of riders participating in experiment. Explores everyday delivery objects as brand surfaces for advertising revenue.
• Jayesh Sanghrajka (Infosys CFO)coreOthers · 8 June 2026Appointed as independent director on Cars24 board to strengthen governance and capital markets expertise ahead of potential IPO. Has served on Cars24's audit committee for four years, bringing over a decade of experience navigating public markets.
• AWS (Amazon Web Services)coreTechnology or Integration · 2 June 2026Technology partner in Cars24 Labs AI initiative. AWS provides infrastructure, mentorship, and access to AI platforms as part of $20 million commitment to AI startups and AI-native product development.
• ElevenLabscoreTechnology or Integration · 2 June 2026Voice AI technology partner contributing to Cars24's 35% improvement in sales conversion rates. Part of Cars24 Labs ecosystem building and AI-native product development.
• Tesla IndiacoreStrategic or Co-development Partner · 7 April 2026Integrated ICE-to-EV trade-in program enabling customers to exchange petrol/diesel vehicles for Tesla Model Y through a single streamlined process. Cars24 handles end-to-end: inspection, valuation, vehicle pickup, direct payment, and ownership transfer. Tesla provides Rs 3 lakh bonus and financing starting at Rs 6 lakh down payment. Limited-period program running through April 2026.
• ConvoZencoreTechnology or Integration · 12 March 2026Conversational AI provider enabling Cars24's voice AI deployments that handle high-volume customer calls and sales interactions. Contributed to 35% improvement in sales conversion rates.
• OpenAIcoreTechnology or Integration · 3 March 2026Strategic partnership to develop and deploy AI-powered customer experiences and intelligent agents across Cars24's customer journeys and internal operations. Early deployments showed increased support resolution rates and reduced turnaround times. Part of Cars24's AI-native platform evolution.
• Vehicle InfocoreStrategic or Co-development Partner · 1 March 2026Surat-based automotive utility app (founded 2017 by Chirag Pipaliya) providing RTO vehicle information, challan payments, insurance checks, service history records, resale value insights, and license exam tools. Third acquisition within a year following CarInfo and Team-BHP.
• CarInfocoreStrategic or Co-development Partner · 1 January 2026Delhi-based vehicle information startup acquired by Cars24 for approximately Rs 400-425 crore. Expands Cars24's vehicle information and management offerings as part of building India's first full-stack vehicle ownership platform.
• Team-BHPcoreStrategic or Co-development Partner · 1 April 2025Cars24 acquired automotive community platform Team-BHP in April 2025 as part of strategy to build full-stack vehicle ownership platform. Jointly published Gears of Growth 2025 report covering India's used-car market based on 33M+ user data.
• MS DhonicoreGTM or Marketing Partner · 1 December 2021Former Indian cricket captain invested in CARS24 in 2019 and became brand ambassador, boosting visibility and consumer trust especially in smaller cities. Also serves as Goodwill Ambassador for Crashfree India road safety initiative.

Scale indicators10 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Spinny: Spinny is a leading Indian full-stack used car platform offering buying and selling of pre-owned vehicles with inspection, warranty, and financing. It is the most direct competitor to Cars24 in India's organized used-car market, targeting similar consumer and dealer segments with a comparable hub-and-spoke model.
• CarDekho: CarDekho is an Indian automotive platform offering new car research, used car listings, financing, and insurance. It competes directly with Cars24 in used car transactions and ownership services while also offering a parallel new-car discovery layer that overlaps with Cars24's new car offering.
• Droom: Droom is an Indian online used car marketplace offering vehicle buying, selling, inspection, financing, and warranty services. It is a direct peer to Cars24, with overlapping product offerings and target customers in India's pre-owned car segment.
• CarTrade Tech: CarTrade Tech operates one of India's largest automotive digital marketplaces including CarWale, CarTrade, BikeWale, and MobilityOutlook. It competes with Cars24 in used car listings, dealer connections, and automotive content, though its model is more listings-led and less full-stack transaction-focused than Cars24.
• OLX Autos (CarWale group): OLX Autos is an online classifieds platform for used vehicles operating in India and other emerging markets. It competes with Cars24 in the consumer-to-consumer listing space, though OLX's model is more listings-oriented versus Cars24's full-stack transaction approach.

Emerging players

• Kavak: Kavak is a Latin American used car platform that has expanded to MENA and other emerging markets. It is comparable to Cars24 in business model (inspection, refurbishment, financing, warranty) and in international expansion strategy, though operating in different geographies with some overlap in UAE.
• Maruti Suzuki True Value: Maruti Suzuki True Value is the certified pre-owned car program of India's largest carmaker. It competes with Cars24 in organized used car sales through OEM-backed warranty, financing, and dealer trust, leveraging the OEM brand and new-car dealer network as a structural advantage in the same customer segment.

Broad incumbents

• CarMax: CarMax is the largest used car retailer in the United States, operating superstores with inspection, reconditioning, financing, and warranty offerings. It is comparable to Cars24 as a scaled, branded, full-stack used car retailer, though serving a more mature US market with different regulatory and credit dynamics.
• Carvana: Carvana is an American online used car retailer offering vehicle browsing, financing, warranty, and home delivery. It is comparable to Cars24 in digital-first used car retail model with vertical integration of inspection, reconditioning, and financing—useful as a benchmark for unit economics and capital intensity.
• AutoTrader (UK): AutoTrader is the UK's largest digital automotive marketplace for new and used vehicles. While more listings-oriented than Cars24's full-stack model, it represents the broader auto-ownership platform thesis (discovery, pricing, history, financing) in a mature market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cars24india
• YouTubeyoutube.com/channel/UCV-CPspQhwTsaiftR4JvT0w
• Facebookfacebook.com/cars24india
• LinkedInlinkedin.com/company/cars24
• Instagraminstagram.com/cars24india

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds16 records

Investors31 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CARS24