CARS24, the leading global e-commerce platform for pre-owned vehicles that launched its operations in the UAE in 2021, now has reached profitability and cemented its position as the largest player in the used car landscape. With its data-driven approach and personalised customer experience, CARS24 has successfully disrupted the traditional used car ecosystem.
An Indian auto tech unicorn company that opened its doors in the UAE during the peak of Covid-19, CARS24 has since expanded its network across India and Australia. Setting the benchmark with services such as home test drives and seven-day return policy, CARS24 has digitised the process of buying and selling pre-owned cars, offering trust, convenience and transparency to thousands of customers.
Key player
“We are steadfast in our commitment to being a key player in the region and plan to invest a significant US$100mn to further strengthen its operations and the overall used car sector within MENA,” commented Abhinav Gupta, CEO CARS24 Arabia.
Within three years of operations, the company opened its first mega refurbishment lab facility spread over 1mn sqft, completed over 50,000 transactions and opened new hubs in Dubai and Abu Dhabi.
Aimed at directly connecting private sellers with buyers, CARS24 launched its first Customer-to-Customer (C2C) service to reflect an auto marketplace-style model where customers can search for private sellers on the app, share information and connect directly to buy or sell their vehicle.
The company also launched ‘Doorstep Servicing’ as an additional solution that customers can avail from the comfort of their homes allowing them to access delivering periodic car maintenance services through experienced technicians directly to their home.
