CARS24 Inaugurates Its 200th Branch In India

CARS24 has announced the launch of its operations in Bhubaneswar, Odisha, marking the launch of its 200th branch in India.

CARS24 is growing at a rapid pace and has witnessed a growth of 115% in 2019. In past one year, CARS24 has expanded its presence to 73 cities from 18 cities in 2018 and doubled the number of branches from 100 in 2018 to 200 in 2019. The company has been investing heavily in strengthening its presence across cities.

Sharing his views on the launch of company’s 200th branch, Gajendra Jangid, CMO and Co-founder, CARS24 said, “Our strong network of partners across India and 200 branches in more than 70 cities defines the chart of our growth. While we remained focused on strong execution, our highly successful used car selling model helped us make the buying and selling process in this space transparent. The 200th branch is a key milestone for CARS24, more so, because we have almost doubled the number of outlets last year, jumping from 100 to whooping figure of 200 and rapidly expanding. This demonstrates accelerated customer demand and CARS24’s ability to translate that into all-round value creation.”

Bindu Tripathy, the city head of Bhubaneswar added “The city has seen a steady rise in the used car trade over the years. The market here is currently fragmented with mostly unorganized dealers. The city being the educational hub of the east with major companies setting up their offices has led to an increase in demand for used cars. CARS24 being the first organized market player have an opportunity to establish a strong base in Odisha. Not only used car sellers but also the channel partners are excited as it will help them scale their business too. We are here to create a niche in the sector”

With this, the company further plans to strengthen its reach by launching in 200 cities by the FY20 and intends to scale up its presence in 300+ tier 2,3 and 4 markets by 2021.