CARS24 bets big on intl. expansion after UAE, Australia

New Delhi, June 17 E-commerce platform CARS24, is set to disrupt the used automobile ecosystem around the globe by looking to strengthen its international operations through business forays in Southeast Asian and Middle East countries this year with a war chest of $100 million.

The brand is already extended its presence recently in Australia and UAE and wants to replicate its success in these markets through forays in newer geographies.

"Our expansion into the markets of UAE, Australia and Southeast Asia mark a milestone moment in the growth of CARS24 as we introduce a whole new world of cars to our new audiences. 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 Vikram Chopra, Co-Founder and CEO, CARS24.

Founded in 2015, CARS24 is providing end to end solutions to customers looking to buy or sell cars. It had also provided high quality experience for sellers and buyers by providing completely online and from the comfort of their homes services.

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 6 years, we have worked very hard to revolutionise the way our consumers buy or sell their cars in India. 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," Chopra said.

CARS24 has earmarked an investment of over $100 million 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.

Leading with 'clicks over bricks' culture across its markets, CARS24 makes used car buying simple and convenient by providing a wide assortment to choose from. In this pursuit, the company already has thousands of cars available for sale in its international markets, which are just a click away and will be home delivered.

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.

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