CarTrade Tech Launches CarTrade Used Auto

CarTrade Tech Limited, one of India's largest digital automotive marketplaces, today announced the launch of CarTrade Used Auto, to build the used-car ecosystem in India across the full transaction journey of Buy, Sell , Exchange and Finance.

CarTrade Used Auto brings together the strengths of CarWale and OLX India to create a unified, technology-led and asset-light platform for India's used-car ecosystem. The platform is designed to serve every used-car transaction B2C, C2B, C2C and financing, to enable consumers, dealers, enterprises, lenders and service partners across the used-car value chain. It has also launched SuperDost, which has built agents like Matchmaking, Pricing, Condition check etc. for used car customers.

India's used-car market is entering a structural growth phase. The market has already crossed approximately 5.9 million annual transactions and is projected to approach 9.5-10 million transactions by 2030. At an estimated average transaction value of approximately ₹5-6 lakh per used car, this represents a current GMV pool of over ₹3 lakh crore, with the potential to scale to approximately ₹5-6 lakh crore by 2030, as volumes grow, ownership cycles shorten and vehicle mix premiumises.

Across its platforms, the company reaches approximately 65 million monthly auto users, making it one of the largest automotive marketplaces in the world. The Group also engages with approximately 3 million used-car sellers and 20 million used-car buyers annually across its platforms. CarTrade Used Auto across C2C, B2C and C2B, has the ambition to facilitate approximately 2 million used-car transactions annually, representing a potential transaction value of approximately ₹1.2 lakh crore per annum.

Used-car finance is one of India's largest financing opportunities. CarTrade Used Auto Finance is building a digital marketplace for customers to get a used car loan in a simple easy manner. It will offer multiple financing options to its millions of customers. It is looking to create all of this in an asset light manner with tie-ups with leading banks and NBFCs.

Commenting on CarTrade Used Auto, Aneesha Bhandary, Executive Director and CFO, said: "Used cars are one of India's largest consumer transaction opportunities, but the journey remains fragmented across discovery, trust, pricing, finance, documentation and ownership transfer. With CarTrade Used Auto, we are creating one platform for buy, sell and exchange of used cars. By bringing together the strengths of CarWale and OLX India, we believe we are uniquely positioned to organise and enable the used-car transaction journey across consumers, dealers, enterprises and lenders. Our strategy is to build technology-led transaction infrastructure, unlock finance and retail enablement, and remain asset-light."

Shares of CarTrade Tech Ltd was last trading in BSE at Rs. 2349.05 as compared to the previous close of Rs. 2385.55. The total number of shares traded during the day was 214069 in over 5631 trades.

The stock hit an intraday high of Rs. 2419.55 and intraday low of 2311.10. The net turnover during the day was Rs. 505432605.00.

Source : Equity Bulls

Keywords

CarTradeTech CarTradeUsedAuto UsedCar Ecosystem