CarTrade Tech Ltd has launched CarTrade Used Auto, a platform for buying, selling, exchanging and financing used cars, as the company seeks to strengthen its presence in India’s fast-growing pre-owned vehicle market.
The platform combines the strengths of CarWale and OLX India to create a unified, technology-led and asset-light marketplace for the used-car ecosystem.
Growth opportunity
CarTrade Used Auto is designed to serve the entire used-car transaction chain, including business-to-consumer (B2C), consumer-to-business (C2B), consumer-to-consumer (C2C) transactions and financing.
The company has also launched SuperDost, an AI-enabled platform featuring agents for matchmaking, pricing and vehicle condition assessment to support used-car buyers and sellers.
India’s used-car market has crossed an estimated 5.9 million annual transactions and is projected to reach 9.5-10 million transactions by 2030. At an average transaction value of ₹5-6 lakh per vehicle, the market currently represents a gross merchandise value (GMV) opportunity of more than ₹3 lakh crore, which could expand to ₹5-6 lakh crore by 2030.
Market reach
CarTrade Tech said its platforms collectively reach around 65 million monthly automotive users. The group engages with about 3 million used-car sellers and 20 million used-car buyers annually.
The company aims to facilitate around 2 million used-car transactions annually through CarTrade Used Auto across the C2C, B2C and C2B segments, representing a potential transaction value of about ₹1.2 lakh crore a year.
Management comment
“Used cars are one of India’s largest consumer transaction opportunities, but the journey remains fragmented across discovery, trust, pricing, finance, documentation and ownership transfer,” said CarTrade Used Auto Executive Director and Chief Financial Officer Aneesha Bhandary.
“With CarTrade Used Auto, we are creating one platform for buy, sell and exchange of used cars. Our strategy is to build technology-led transaction infrastructure, unlock finance and retail enablement, and remain asset-light,” she added.
Financing focus
The company said used-car finance represents one of India’s largest lending opportunities. CarTrade Used Auto Finance is building a digital marketplace that will offer multiple financing options through partnerships with banks and non-banking financial companies (NBFCs).