CarTrade Tech Launches CarTrade Used Auto, Unifying CarWale and OLX India
CarTrade Tech launches CarTrade Used Auto, unifying CarWale and OLX India to build the used-car ecosystem. The platform aims to facilitate 2 million transactions annually, with a potential value of ₹1.2 lakh crore. It targets significant growth in India's used-car market, projected to reach 9.5-10 million transactions by 2030.
This launch represents a strategic move to consolidate market position and capitalize on the substantial growth potential of India's used-car market, potentially impacting revenue and market share significantly.
The launch of a new, integrated platform designed to capture a significant share of a growing market is a positive development for the company.
CarTrade Tech Limited has announced the launch of CarTrade Used Auto, a new platform aimed at consolidating India's used-car ecosystem. This initiative integrates the strengths of CarWale and OLX India to create a unified, technology-driven, and asset-light platform covering the entire transaction journey for used cars, including buying, selling, exchanging, and financing.
The platform is designed to cater to all types of used-car transactions (B2C, C2B, C2C) and financing needs, serving consumers, dealers, enterprises, lenders, and service partners. It also introduces SuperDost, a feature offering agent-like services for matchmaking, pricing, and condition checks for used car customers.
India's used-car market is experiencing structural growth, with approximately 5.9 million annual transactions expected to reach 9.5–10 million by 2030. With an estimated average transaction value of ₹5–6 lakh per used car, the current Gross Merchandise Value (GMV) pool exceeds ₹3 lakh crore, with potential to grow to ₹5–6 lakh crore by 2030. CarTrade Used Auto aims to facilitate around 2 million used-car transactions annually, representing a potential transaction value of approximately ₹1.2 lakh crore per annum.
The company reaches about 65 million monthly auto users across its platforms and engages with 3 million used-car sellers and 20 million used-car buyers annually. CarTrade Used Auto Finance will build a digital marketplace for used car loans, partnering with leading banks and NBFCs to offer multiple financing options in an asset-light manner.
Aneesha Bhandary, Executive Director and CFO, stated, "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."
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