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CarTrade.com

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CarTrade
Company typePublic
ISININE290S01011
IndustryAutomotive
Founded2009
FoundersVinay Sanghi
Rajan Mehra
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
Vinay Sanghi (Chairman and MD)
Products
  • CarTrade
  • CarWale
  • BikeWale
  • Shriram Automall
  • Adroit Auto
  • CarTradeExchange
  • OLX India
ServicesOnline auto classifieds
RevenueIncrease ₹555 crore (US$66 million) (FY24)[1]
Increase ₹164 crore (US$20 million) (FY24)[1]
Increase ₹82 crore (US$9.8 million) (FY24)[1]
Number of employees
1,400+
Websitecartrade.com

CarTrade.com is an Indian online auto classifieds platform serving as a marketplace for users interested in buying and selling new and used vehicles.[2] Headquartered in Mumbai, the company also owns other vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall, the vehicle inspection company Adroit Auto, and the classifieds portal OLX India.

History

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In August 2009, Vinay Sanghi and Rajan Mehra established a used vehicle platform called MotorExchange.in. The company acquired used car marketplace CarTradeIndia.com in the same month.[3][4] The two platforms were rebranded as CarTradeExchange.com and CarTrade.com respectively in 2014.[5]

In November 2015, CarTrade acquired CarWale, an online classifieds portal, and its associated websites in an all-cash deal.[6] In May 2017, CarTrade acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal.[7]

In January 2018, CarTrade acquired a 51% stake in Shriram Automall from Shriram Group. This acquisition made CarTrade India's largest online and physical marketplace for cars.[8]

In August 2021, CarTrade Tech Limited launched its initial public offering (IPO) and got listed on NSE and BSE.[9]

In February 2023, CarTrade set up CarTrade Ventures to acquire and invest in automotive technology companies.[10]

In July 2023, CarTrade acquired OLX India's classifieds and auto sales business for ₹537 crore (US$64 million).[11] In October 2023, CarTrade announced the closure of OLX India's auto sales division but continued to operate the OLX classifieds platform.[12]

Services

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CarTrade operates as a platform for business-to-business (B2B) and business-to-consumer (B2C) operations. The service is divided into two sets – CarTrade.com, the B2C portal where users can buy and sell new and used cars, and CarTradeExchange.com, the B2B dealer portal which allows dealers to manage their online auctions and sales.[2][13]

Other than the online marketplace, it has physical presence with a network of over 4,000 dealers across 80 cities in India.[citation needed] The website currently lists over 1,65,000 certified used cars.[14][15]

Along with car listings, the portal also offers car price information, certification, insurance, used car finance, comparisons, on-road prices, and reviews. The used car certification program is jointly conducted by CarTrade engineers and sellers who inspect the initial condition of cars at different levels, and a detailed condition report is presented as part of the online listing. CarTrade also provides similar services for bikes (new and used) on Bikewale portal.[16]

Promoters

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CarTrade.com is promoted by its founder and CEO, Vinay Sanghi, who is the former CEO of Mahindra First Choice. Rajan Mehra, an Ex-MD at Nirvana Venture Advisors and former country Head of eBay India is also a founder-director in CarTrade. It has received funding from various investors like Canaan Partners, Epiphany Overseas Ventures, Tiger Global, Temasek, March Capital, Austin Ligon, and Warburg Pincus.[17][18][19][20]

See also

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References

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  1. ^ a b c "Investor Presentation - Q4 FY24 Quarter ended" (PDF). BSE. CarTrade Tech Limited. Retrieved 26 June 2024.
  2. ^ a b Das, Sohini (20 January 2014), "Used-car market rides the technology wave", cartrade.com/, retrieved 28 December 2023
  3. ^ Gooptu, Biswarup (22 October 2010). "Motor exchange: Trading in used cars". The Economic Times. Retrieved 28 December 2023.
  4. ^ Pahwa, Nikhil (11 August 2009). "B2B Auto Biz MotorExchange Acquires CarTradeIndia". MediaNama. Retrieved 28 December 2023.
  5. ^ SN, Vikas (14 October 2014). "CarTrade raises Rs 185 cr from Warburg Pincus, Tiger Global & Canaan Partners". MediaNama. Retrieved 16 March 2023.
  6. ^ "CarTrade acquires rival CarWale". The Times of India. 14 November 2015. Retrieved 24 November 2015.
  7. ^ "CarTrade acquires vehicle inspection Adroit Inspection". The Economic Times. 4 May 2017. Retrieved 11 August 2017.
  8. ^ Thakkar, Ketan (25 January 2018). "CarTrade acquires 51 per cent in Shriram Automall to create India's largest online vehicle transaction platform". The Economic Times. Retrieved 2 June 2021.
  9. ^ "No IPO magic for CarTrade, loses 7.3% on debut day". The Economic Times. 21 August 2021. Retrieved 28 December 2023.
  10. ^ "CarTrade launches CarTrade Ventures, plans to invest Rs 750 crore in automotive space". The Economic Times. 23 February 2023. Retrieved 16 March 2023.
  11. ^ "CarTrade Tech says it owns classifieds platform OLX's entire India business". The Economic Times. 13 July 2023. Retrieved 26 June 2024.
  12. ^ Bhatnagar, Rishabh (25 October 2023). "CarTrade To Shut OLX's Auto Sales Business On Unit Economics Woes". NDTV Profit. Retrieved 26 June 2024.
  13. ^ Das, Sohini (3 November 2014). "Cartrade.com plans to launch multiple products on mobile platform". Retrieved 3 November 2014.
  14. ^ "Cartrade com showcases its wide choice of used cars through its latest". Archived from the original on 1 July 2015. Retrieved 25 June 2015.
  15. ^ Mohile, Shally (28 October 2014), "Pre-owned luxury cars gain traction among buyers", Mint, retrieved 11 May 2016
  16. ^ "About Us", cartrade.com, retrieved 11 May 2016
  17. ^ "Singapore's Temasek, March Capital lead Rs 950-crore investment in CarTrade". The Economic Times. 11 April 2016. Archived from the original on 18 January 2016.
  18. ^ "CarTrade.com raises $30M from Warburg Pincus, Canaan & Tiger Global". VC Circle. Retrieved 13 October 2014.
  19. ^ "CarTrade open to more acquisitions in auto, autotech". LiveIndia. Retrieved 28 December 2023.
  20. ^ "CarTrade to venture into used-car financing". The Economic Times. 11 April 2016.
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