CARS24 Launches First Engineering R&D Centre in Bengaluru to Transform Pre-owned Car Market

Bengaluru, 17 March 2023: CARS24, India's leading auto-tech company for pre-owned vehicles, has today taken a giant leap towards driving innovation and growth in the pre-owned vehicle market with the launch of its first Engineering Research and Development Center (R&D Center) in Bengaluru. The centre will focus on developing cutting-edge solutions for used vehicle inspection, refurbishment, and reconditioning. Equipped with state-of-the-art technology and staffed by a team of experts led by Mr. Marut Singh, Chief Technical Officer, and Anmol Singh, Vice President of Engineering, the centre will employ engineers and specialists from across the country. The AI-powered algorithms used by the centre will ensure accurate vehicle valuation, enabling CARS24 to raise the standard of the entire industry and maintain its market-leading position in customer satisfaction.

Located in the HSR Layout in Bengaluru, the R&D Center represents a significant milestone in CARS24's growth plans, as the company continues to revolutionise the pre-owned vehicle market across the country. In addition to developing advanced technological solutions for vehicle inspection and valuation, the centre will analyse data on pre-owned vehicle sales and market trends, providing statistical models and machine learning algorithms that will predict future demand for certain types of vehicles, identify growth opportunities, and optimise pricing strategies.

Commenting on the launch of the centre, Mr. Marut Singh, Chief Technical Officer of CARS24, said, "Our R&D centre in Bengaluru is a testament to our commitment to driving continuous innovation, with a focus on customer satisfaction. As the pre-owned car market continues to grow, we are confident that our centre will foster technological advancements to meet the evolving needs of the industry. With cutting-edge technology and expertise, our Bangalore centre will play a pivotal role in our future growth for domestic and international markets and put us strongly on the path of profitability"

Over the last few years, CARS24 has become India's most trusted brand to buy and sell pre-owned cars. The company has expanded its operations to an additional 24 cities in 2022, and it now has a presence in over 100 cities across the country. The establishment of the R&D centre marks another significant step in CARS24's expansion plan, bringing together the best industry resources and building an excellent ecosystem to boost the brand's overall innovation capabilities.