Cars24
Cars24 is growing: it delivered 750 cars on 11 October, up 58% year on year (BW Auto World, 13 Oct), and August GMV rose 37% to ₹937 crore with EBITDA turning positive (Business Today, 8 Sept). Used-car rivals such as Spinny face a rural, first-time-buyer festive market where Cars24 is expanding from 25 to 200 cities (The Hindu BusinessLine, 27 Sept).
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
- Reported: Cars24's 750 first-day Navratri deliveries (+58% YoY) show strong festive demand in used cars, backed by over 55% loan-financed purchases and seven in 10 first-time buyers, though this is a single-day figure rather than a full-season trend.Reported: Cars24 delivered 750 cars on 11 October, the first day of Navratri, five times its usual Sunday volume. Seven in 10 buyers were first-time car buyers, over 55% of cars were bought with loans, and over 40% of sales were linked to rural RTOs.Watch: Loan-linked share of cars sold against the over 55% reported.
- Reported: Used-car sales seen rising 12-15% this festive quarter as rural demand lifts Cars24 and SpinnyReported: Watch: Industry October-December volume growth against the 12-15% forecast.
- Reported: Cars24 expects its Singapore-to-India reverse flip to make it eligible to file IPO draft papers by April 2027.Reported: Watch:
Background
From 6 stories, the newest dated 27 Sept 2026. Summary written 4 Oct 2026. Newer developments are under Latest moves.
Show 3 paragraphs and 6 sources
Cars24 is a used-car platform that operates a retail presence in 25 cities in India. [1] source: The Hindu BusinessLine It is completing a Singapore-to-India reverse flip, which is expected to take 6-9 months. [1] source: The Hindu BusinessLine It offers integrated digital used-car financing, with eligibility checks in minutes and same-day disbursal after sanction. [2] source: ET Small Business
In its September 2026 update, Cars24 reported August transaction GMV of ₹937 crore, up 37% year-on-year, and adjusted net revenue of ₹173 crore, up 46% year-on-year. [3] source: Business Standard EBITDA was positive ₹0.7 crore in August versus a ₹14 crore loss in July, and loan disbursements were ₹415 crore, up 70% year-on-year. [3] source: Business Standard The Hindu BusinessLine reported Cars24 operating revenue of ₹5,092 crore, down 18.3%. [4] source: The Hindu BusinessLine Cars24 expects to be eligible to file its DRHP by April 2027 and plans to expand from 25 to 200 cities and roughly 50,000 cars. [1] source: The Hindu BusinessLine It delayed its IPO to prioritise AI adoption and plans to restart used two-wheeler sales. [5] source: Business Today
CEO Vikram Chopra says the company spends Rs 5 crore monthly on AI tokens. [5] source: Business Today CFO Shivanshu Makkar said the reverse flip could make the company eligible to file IPO draft papers by April 2027. [6] source: ET Auto Retail The Hindu BusinessLine reported that rival Spinny is set to exceed ₹6,000 crore FY26 revenue, overtaking Cars24. [4] source: The Hindu BusinessLine
Sources
Questions about Cars24
Who leads Cars24?
Vikram Chopra is the CEO of Cars24, according to a Business Today report from September 2026. [5] source: Business Today
How fast is Cars24 growing in India?
Cars24 reported August transaction GMV of ₹937 crore, up 37% year-on-year, and adjusted net revenue of ₹173 crore, up 46% year-on-year, in September 2026. Loan disbursements rose 70% year-on-year to ₹415 crore. [3] source: Business Standard
What is Cars24's current strategy in India?
In September 2026, Cars24 said it expects to be eligible to file its IPO DRHP by April 2027 and plans to expand from 25 to 200 cities. [1] source: The Hindu BusinessLine It also delayed its IPO to prioritise AI adoption and plans to restart used two-wheeler sales. [5] source: Business Today
Who are Cars24's main competitors?
Cars24's rival Spinny is set to exceed ₹6,000 crore FY26 revenue, overtaking Cars24, whose operating revenue was ₹5,092 crore, down 18.3%. Droom is also named alongside them. [4] source: The Hindu BusinessLine
More stories about Cars24
- Cars24 narrows FY26 loss 19% to ₹441 Cr as revenue falls 18%
- Cars24, Spinny and Droom seek new growth levers as used-car profits remain elusive
- Cars24 valuation tool spotlighted as sellers learn to read the online-to-final-offer gap
- Cars24 scraps all job titles, grades and bands under new 'Flatland' AI-era operating model
- Cars24 names Infosys CFO Jayesh Sanghrajka as independent director ahead of IPO push
Stories that mention Cars24
4 stories
Cars24 is named in these stories but is not their subject.
- Spinny Targets 2027 IPO With ₹2,500–3,000 Cr Raise as Revenue Scales
- Spinny Converts Parent to Public Entity as It Prepares for Up to $300M IPO
- Ola Electric Floats ₹1,500 Cr QIP at ₹37.74 as E2W Sales Rebound 8.4% MoM in May
- ElevenLabs Plugs Voice AI Into Meesho, Cars24, Myntra Stacks; Cites 35% Conversion Lift