CarDekho Gaadi Opens Seven Stores In Mumbai
CarDekho Gaadi store, a retail auction model for pre-owned cars, has launched 7 stores in Mumbai. The opening of these stores is a part of an ambitious move by CarDekho to establish 200 Gaadi stores across India by 2020.
CarDekho Gaadi stores also help customers with RC transfer, loan closure assistance, instant money transfer, and scientific car inspection.
Mr. Vibhor Sahare, co-founder & CEO Gaadi.com said, “It’s a proud moment for us that we have opened our milestone 50th store in Mumbai. We have been receiving a phenomenal market response at our CarDekho Gaadi stores across regions and we are excited to foray into Mumbai which is an important market for us. The company’s fast-paced expansion is a testimony of our right strategy meeting customers’ needs. Our aim is to be able to buy 14000-15000 cars each month by the end of this financial year. With this launch, we have further deepened our root in the used car ecosystem of Maharashtra and now are here to provide ease of selling and buying used cars for our Maharashtrian customers. We will continue to invest our time and energy in building a trusted platform for selling used cars in India.”
According to a study by McKinsey & Company, the used-cars segment will continue to grow in India. It has already become Asia's third-largest car market. Besides, due to the growing focus on the lifespan of cars and stricter norms on emissions and safety, and the upcoming launch of multiple electronic cars, people are wary of purchasing new vehicles. To talk numbers, in the last fiscal year, 4 million second-hand cars were bought and sold in India.
The Society of Indian Automobile Manufacturers (SIAM), in a similar forecast, states that market growth will increasingly be driven by rising penetration of online platforms such as Cardekho Gaadi, which enable used car dealers to reach larger audiences.
