Srinagar: CARS24 exists to transform the way consumers buy and sell cars- it is an e-commerce platform that is leveraging technology at every leg of the consumer journey to solve genuine pain points and deliver a wow experience.
Since its launch in 2015, CARS24 has always strived to take the stress and hassle out of selling a car. Using a combination of core offerings, namely single visit, best price, free RC transfers and instant payment options, the company has managed to scale the business exponentially and become one of the most revered used car businesses in the industry. This convenience factor is further enhanced by the ease of transacting through the well-designed website and smartphone apps, from the comfort of the home or on the go. Selling a car on CARS24 is an easy, quick and a straightforward process.
Five years back, the industry largely relied on physical vehicular inspections. Since it had been an industry standard practice for the longest time, gaining trust of channel partners for this digital reliant idea was not easy. A majority of the dealers were hesitant to participate in online auctions due to the lack of physical inspections; CARS24 made it simple with its auction app.
To combat this issue, CARS24’s technology team worked diligently to build an entire ecosystem that focused on transparency, security, and total accountability on the brand’s part in an effort to reassure the dealers of the #1 focus, i.e, accurate and efficient inspections on 140+ parameters for the car. This not only helped them easily participate in auctions but also helped CARS24 tackle the resistance and emerge as one of the key players in the organised used car market.
In 2019, CARS24 procured a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI) and also ventured into the consumer lending business in an attempt to provide seamless and instant access to credit. This further upped the ante of CARS24 by setting a benchmark in providing its consumers with a delightful customer experience.
Keeping all this in mind, it should be no surprise that CARS24 has been able to simplify and organize the traditional process of car selling, which was tedious and prolonged and tiresome. The brand has transformed the selling experience by giving power back to customers from the comfort of their own home without having to haggle with salespeople. The deferential approach to auto sales turned out to be a winning formula for the company.
Till date, the company has clocked over 4 lakh transactions in India and at present is the de-facto leader in the used car space in India with over 4% market share. CARS24 transformed the way used automobiles were bought by putting the entire process online. A first–of-its-kind in the Indian pre-owned automobiles industry, CARS24 offers services like, home delivery, a 6 month no questions asked warranty and a 7 day return policy, much like buying any other product online. With this launch, the brand aims to lead with ‘clicks over bricks’ culture in India while encouraging consumers to embrace the simplicity and convenience of also buying their next car entirely online.