Cars24 Overview
Pro stress-test →Cars24 is India's largest organised used car marketplace with over 11 million monthly active users across India, the UAE, and Australia. The platform operates as a retailer of used vehicles, new vehicle information, loans, and related services. CEO Vikram Chopra announced IPO plans in January 2026, with a public listing in India expected within 6 to 12 months subject to market conditions and regulatory approvals.
Strategic Profile
Pro stress-test →Cars24 operates as a full-stack used car marketplace generating revenue through three primary streams, with retail margin revenue standing at 19.3% in H1 FY26. The platform allows owners to book appointments for inspection, price vehicles using AI algorithms, and enables customers to buy and sell cars seamlessly.
Competitive Landscape
Pro stress-test →Competitors include Kavak, Openlane Europe, Droom, Spinny, and Ola Electric Mobility. CarTrade Tech is the only listed used-car platform in India, making it a key comparable for Cars24's anticipated IPO. Cars24 holds the leading position in India's organized used car marketplace but faces competition from both domestic and international players.
Industry Context
Cars24 operates in Used Car Marketplace / Automotive E-Commerce.
Key facts
Founded: 2015 · Headquarters: Gurgaon, India · Employees: 6,803-9,500 · Revenue: $930M (2023)