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CARS24 expands operations to UAE and Australia

It has earmarked over $100 million investment for international markets in 2021

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New Delhi: E-commerce platform for pre-owned vehicles, CARS24 is set to disrupt the used automobile ecosystem around the globe. The company has launched its business in Australia and UAE and is gearing up to launch business in Southeast Asian and Middle East countries this year.

As part of its expansion strategy, CARS24 will use its India playbook to expand globally and continue to invest in technology to transform the consumer experience in buying-selling cars, it said on Thursday. “In the last six years, we have worked very hard to revolutionise the way our consumers buy or sell their cars in India. Interestingly, the pain points of used car consumers across the globe remain pervasive. We are sure with our expertise and experience of operating in a diverse market like India, we will be able to cater to the needs of our new customers as well," said CARS24’s co-founder and CEO Vikram Chopra.

Elaborating on the company’s international expansion plans, Chopra said, CARS24’s launch in markets of UAE, Australia and Southeast Asia marks a milestone moment in its growth story. “CARS24 is well-poised for explosive growth internationally and we will continue to offer our burgeoning roster of offerings to newer markets that have been at the forefront of embracing new technology and innovation,” he added.

CARS24 has earmarked an investment of over $100Million for international markets in 2021. These investments will be used to build the brand in these new territories coupled with a strong supply of cars for the platform, and a state-of-the-art workshop to recondition cars to ensure top quality, the company said in a statement.

Currently, CARS24 is shipping cars to customers across Dubai, Abu Dhabi and Sharjah and to Brisbane in Australia, shortly followed by Sydney and Melbourne as well. “We are delighted to be spearheading the global expansion of CARS24 in the Australian market. Australia is a car-loving nation of consumers who have had no alternative to the traditional used car buying model - until now. Australians are truly ready to embrace 100% online car buying; and with the support of our founders, we have incredibly high expectations for our growth in this market.”, said CARS24 Australia, GM Australia, Olga Rudenko.

Founded in 2015, CARS24 has grown rapidly over the years, using product, tech and data science, to fuel the growth in the Indian used cars sector and enabling a quality experience for sellers and buyers, completely online & from the comfort of their homes.  

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