E-commerce platform for pre-owned vehicles CARS24 said on Thursday it is ready to launch business in southeast Asian and Middle East countries.
The company recently launched its business in Australia and the United Arab Emirates. It has earmarked an investment of over 100 million dollars (about Rs 730 crore) 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 workshop to recondition cars to ensure top quality.
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.
"In the last six years, we have worked very hard to revolutionise the way our consumers buy or sell their cars in India," said Vikram Chopra, Co-Founder and CEO.
"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," he said.
"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," said Chopra.
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.
( With inputs from ANI )
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