Cars24 exists to make car ownership simpler, safer and more accessible. For many families, a car is not just a purchase; it is access to work, education, healthcare, safety and independence.

Our vision is Better drives, better lives. That means helping more people own cars affordably, making used cars more trusted, keeping vehicles in safe circulation for longer, and building a cleaner, more organised auto ecosystem.

We are not building only for the moment a car is bought or sold. We are building for the full journey of ownership: buying, financing, protecting, maintaining and eventually selling the car again.

Cars24 is an AI-native auto-ownership platform built in India and designed for global markets. We bring together car buyers, sellers, dealers, financing partners, inspection infrastructure, vehicle data and ownership services on one platform.

The scale of the ecosystem is what makes it different. Cars24 has 38M+ monthly active users, and the platform touches roughly one in four used-car transactions in India through direct transactions, dealer rails and marketplace flows.

That gives Cars24 a unique position in the category: we are not just participating in the used-car market; we are building the infrastructure through which the market becomes more organised, trusted and financeable.

Cars24 is solving three connected problems in used cars: affordability, trust and ownership experience.

Trust is the first unlock. Buyers worry about accident history, odometer tampering, paperwork, warranty and resale value. Cars24 solves this through inspection, refurbishment, verified history, pricing intelligence, buyback and legal / ownership support.

Affordability is the second unlock. Used-car penetration in India is still around 3%, compared with ~20% in China and ~56% in Germany. The gap is not aspiration; it is financing. Many customers can afford an EMI, but traditional banks have struggled to serve used-car buyers because the asset often lacks trusted history, standardised valuation and suitable lending products.

Ownership is the third unlock. A car is not a one-time transaction; it is a multi-year relationship. Cars24 supports customers after purchase through insurance, service history, traffic-fine payments, FASTag, buyback and eventual resale.

A traditional retailer mainly sells inventory. Cars24 is building a full-stack AI-native auto-ownership platform.

We have demand at scale, proprietary supply, dealer rails, inspection infrastructure, in-house and partner-led financing, ownership services and data across the customer and vehicle journey. These pieces reinforce each other: more demand improves liquidity, more transactions create richer vehicle data, richer data improves underwriting and pricing, and more ownership services keep customers engaged beyond the sale.

For customers, this means a used car becomes easier to choose, easier to finance and easier to own. For investors, it means Cars24 is not dependent on a single retail transaction; it is building a compounding ecosystem across the full ownership lifecycle.

Cars24 monetises across three streams: vehicle transactions, financing solutions and ownership services.

We earn when cars are sold to customers or dealers, when marketplace transactions are facilitated, when loans are originated through our own book or partners, and when customers use ownership products such as insurance, buyback, vehicle history, inspections and traffic-fine payments.

This creates multiple revenue opportunities across the car ownership journey; from purchase and financing to protection, compliance, service and eventual resale.

Cars24 is an AI-native auto-ownership platform built in India and designed for global markets. We bring together car buyers, sellers, dealers, financing partners, inspection infrastructure, vehicle data and ownership services on one platform.

The scale of the ecosystem is what makes it different. Cars24 has 38M+ monthly active users, and the platform touches roughly one in four used-car transactions in India through direct transactions, dealer rails and marketplace flows.

That gives Cars24 a unique position in the category: we are not just participating in the used-car market; we are building the infrastructure through which the market becomes more organised, trusted and financeable.

Cars24 is solving three connected problems in used cars: affordability, trust and ownership experience.

Trust is the first unlock. Buyers worry about accident history, odometer tampering, paperwork, warranty and resale value. Cars24 solves this through inspection, refurbishment, verified history, pricing intelligence, buyback and legal / ownership support.

Affordability is the second unlock. Used-car penetration in India is still around 3%, compared with ~20% in China and ~56% in Germany. The gap is not aspiration; it is financing. Many customers can afford an EMI, but traditional banks have struggled to serve used-car buyers because the asset often lacks trusted history, standardised valuation and suitable lending products.

Ownership is the third unlock. A car is not a one-time transaction; it is a multi-year relationship. Cars24 supports customers after purchase through insurance, service history, traffic-fine payments, FASTag, buyback and eventual resale.

Cars24’s technology stack is what allows the ecosystem to operate at scale. The same core platform supports inspection, pricing, refurbishment, financing, customer communication, document checks, fraud detection, dealer workflows and ownership services. Our platform enables access to 500K+monthly data points that enable us to gauge the quality of the car accurately and strengthen our pricing model. 

AI is not a feature added on top of the business; it is increasingly part of the operating model. It helps Cars24 inspect faster, price better, personalise customer journeys, process documents, detect risk and improve productivity across teams. It has directly led to 20% reduction in inspection and stock-in time, handles 700K+ minutes of customer calls every month, and improved tech productivity by 3x. 

This matters because the model has to work across many cities, multiple products and different geographies. Cars24’s single tech stack, built in India and deployed across India, the UAE and Australia, makes the platform more scalable and easier to plug-and-play internationally.

The Cars24 model is designed to compound across multiple engines, not rely on one business line. Transactions bring customers into the ecosystem. Financing improves affordability and monetisation. Ownership services extend the relationship beyond the sale. AI and the single tech stack improve operating leverage as the business scales.

This is already visible in the financial trajectory. Cars24 crossed its first Company-level profitable month in January 2026, and Q4 FY26 was the first profitable quarter at the Company level. India retail, financing, ownership services and international markets are all contributing to a healthier, more diversified business model.

The long-term thesis is simple: as more customers use Cars24 to buy, finance, own and sell cars, the platform gains more data, more engagement and more monetisation opportunities, thus creating growth with improving unit economics.

Mehul and Gajendra are stepping down from their executive roles, at a moment of strength, to focus on their next chapters; while a deep next generation of leaders inside the Company is ready and equipped to carry it forward.  Eleven years in, this is the clearest sign that this ecosystem has matured into something bigger than its founding team. That was always the goal, and Cars24 is there.

Practically, very little changes. Both remain shareholders. Mehul continues on the board. Gajendra continues to advise on branding and on Crashfree India, the road safety initiative he has shaped from the start. Vikram and Ruchit will absorb the majority of their executive responsibilities, supported by a leadership bench that has been running large parts of this business for years. Strategy does not change. The plan does not change. The numbers do not change. No other governance or cap table changes are contemplated.

Cars24 is in strong hands today, and it will be in stronger hands a year from now. That is what the founders set out to build, and that is the Company that’s running into the IPO and through it.