CARS24 Featured On The Hindu Business Line

CARS24

 was founded with a view to organize the vastly unorganized used car industry in India. With over 30-35 lakh used cars being sold every year in the country, only 20 lakh new cars were being purchased. This clearly means that the used car market is much bigger and hence there is a strong consumer demand but the supply is restricted. Thus unlike other market players, we focussed on the supply instead of the demand. With industry-leading insights, we at CARS24, have been tirelessly trying to drive the supply side with our team at the wheel. Our efforts have constantly been noticed now as yet again both our founders - Vikram Chopra (CEO) and Mehul Agrawal (COO) have been featured in The Hindu Business line.   The used car business is a $20-billion market in India which is growing at 25 percent every year. Although the strong consumer demand presented itself as a good opportunity, however, the bottleneck was less supply. According to Vikram, the biggest challenge is to connect the supply to demand given the fact that the market in unorganized. Vikram also adds that although we have competitors like Droom, Quickr, Carwale and Olx, however, these are just lead generation websites which don't facilitate the transaction. On the other hand, we have the data and we own the transaction.

Tapping The Talent

These days access to capital is not the only thing that ensures entrepreneurial success. Various start-ups and small businesses are creating new job opportunities but Vikram states that investing in employees is the new paradigm which ensures an organisation's success. He states that tracking employee satisfaction is an essential component of being a good entrepreneur. Vikram also states that hiring the right talent is of the paramount importance for an entrepreneur. One can easily have great ideas and a burning desire to succeed, however, it's not just the need of capital what can get success in an organisation, one also needs employee happiness as it is the biggest ingredient in an entrepreneur's growth story. While building a company, one also needs a strong team. Vikram and Mehul both share the same perspective and that is why they always take out time for their team. According to them, this is what entrepreneurs fail to realize in their first stint and thus end up being a costly lesson. Both of them ensure that their team is developing and instead of just focusing on weekly reviews, they focus on helping them do the task better. They not only take personal sessions to help them become better managers but this also helps in creating a conversation with the employees. You can read the

complete CARS24 feature story on Hindu Business Line.

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