CARS24: 10 Key Things You Must Know

Overview

CARS24 is a pioneering online platform that has transformed the way used cars are bought and sold, primarily in India, and has expanded its footprint internationally to countries including Australia, the UAE, and Thailand. Founded in 2015, it combines cutting-edge technology with user-friendly services to simplify vehicle transactions, offering customers transparency, convenience, and trust. CARS24's unique approach incorporates artificial intelligence and comprehensive services like instant payments, paperworks, and financing options, which have made it a standout player in the used-car market. This article explores ten key aspects of CARS24’s business, history, innovations, and future prospects that reveal why it is a significant force in the automotive and e-commerce industries.

1. Origins and Founding Vision

CARS24 was founded in 2015 by a team of four entrepreneurs: Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal. Based in Gurgaon, India, the company emerged from a vision to revolutionize the used car market by making transactions hassle-free, transparent, and tech-enabled. Initially focused on selling used cars, it quickly expanded to provide end-to-end services. The founders recognized the fragmented and opaque nature of traditional used car markets and sought to leverage technology to address these challenges on a large scale.

2. Technology-Driven Platform

At the heart of CARS24’s operations is its AI-powered pricing engine that analyses real-time market data to offer competitive and fair prices for cars across India. The company uses advanced machine learning techniques to connect buyers and sellers efficiently, providing instant payment solutions and managing the entire paperwork digitally, including ownership transfers. This technology-driven mechanism greatly reduces time and effort involved in used car transactions and has been critical to CARS24’s rapid growth.

3. Comprehensive Customer Services

CARS24 offers a suite of customer-friendly services designed to enhance buyer and seller confidence: from home test drives and doorstep pick-up/delivery of vehicles, to warranty plans that can extend up to three years or 45,000 kilometers. The company provides a ‘7-day no questions asked return policy,’ allowing customers to return cars if they don’t meet expectations. These offerings help overcome traditional concerns and uncertainties in the second-hand car market.

4. Expansion and International Presence

While initially focused on the Indian market, CARS24 expanded its operations internationally to markets such as Australia, UAE, and Thailand. In Australia and UAE, the company operates fully online platforms offering rigorous inspection and refurbishment services before cars are sold, including certifications and warranties. This geographical diversification has helped CARS24 tap into global used car markets and demonstrates adaptable application of its business model.

5. Financial Services and Loan Offerings

In 2019, CARS24 launched its NBFC subsidiary — CARS24 Financial Services — to provide financing solutions for used car buyers. This includes used car loans, loan top-ups, and loans against vehicles. The LOANS24 platform, unveiled in early 2025, broadened the company’s offerings to cover new car loans, inventory finance for dealers, personal loans, credit cards, and more. This integrated financial ecosystem supports customers throughout the purchase journey, making vehicle ownership more accessible.

6. Sustainability Initiatives

CARS24 emphasizes sustainability by extending the lifecycle of vehicles and reducing environmental impact. Manufacturing a new car can produce up to 20 metric tons of CO2, so promoting used cars directly contributes to lowering emissions. In 2023 alone, over 200,000 cars were resold through CARS24, saving an estimated 2.5 million metric tons of CO2 emissions. This environmental focus aligns with the company’s vision to make every car a net-positive asset for the planet.

7. Strategic Acquisitions and Innovation

In April 2025, CARS24 acquired Team-BHP, India’s leading automotive community forum. The acquisition aims to combine CARS24’s AI capabilities with Team-BHP’s engaged community while preserving editorial independence. Additionally, the company launched CarTruth, a comprehensive Pre-Delivery Inspection service, providing detailed physical inspections and vehicle histories to buyers. These innovations reinforce CARS24’s commitment to trust, transparency, and community engagement.

8. Industry Impact and Market Leadership

CARS24 is one of the four major organized players dominating India’s used car segment, impacting how millions buy and sell vehicles. As of fiscal year 2023–24, it sold over 200,000 vehicles, generating revenues close to ₹6,917 crore (about US$850 million). The company is credited with creating India’s first car pricing intelligence system and launching the country’s largest car stock exchange, fundamentally changing the dynamics of the automotive resale industry.

9. Challenges and Market Competition

Despite its impressive growth, CARS24 faces challenges including stiff competition from rivals like Spinny, CarDekho, and Droom. Like many tech startups in 2025, it underwent workforce reductions to streamline operations and focus on profitability. Employee reviews reflect both positive opportunities for technical innovation and concerns related to job security and internal management. Navigating these operational challenges remains crucial for sustaining growth.

10. Future Prospect and Vision

CARS24 has set an ambitious goal to grow 100 times in the next five years, aiming to tap into a $300 billion enterprise opportunity in India and beyond. Plans include expanding product lines such as BIKES24 (for two-wheelers), new car buying platforms, expanding financial products, and further technological enhancements. The company is also committed to social projects like Crashfree India, targeting zero road fatalities by 2040. If successful, CARS24 will continue shaping the future of mobility with an emphasis on sustainability, technology, and customer empowerment.

Conclusion

CARS24 represents a remarkable evolution in how used cars are transacted, blending technology, transparency, and service innovation to create a seamless customer experience. From humble beginnings in Gurgaon to becoming a multinational auto-tech leader, its impact on the automobile resale ecosystem is undeniable. Its commitment to sustainability, expansion of financial services, and continuous innovation reflect a progressive vision that extends beyond profit to societal good. As it strives to 100x its scale, CARS24 challenges us to rethink mobility’s future in an AI-driven, customer-centric world. Will it reshape automotive retail globally? The journey ahead promises to be as dynamic as the roads its cars travel.