Cars24 Success Story: 5 Core Lessons for Every Entrepreneur

Introduction

In India, selling a used car was once a daunting task, involving numerous intermediaries, inconsistent pricing, and cumbersome paperwork. Recognizing this challenge, Cars24 was established in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal. Their vision was to revolutionize the pre-owned vehicle market by introducing a seamless, tech-driven platform that would simplify the buying and selling process for used cars.

Over the years, Cars24 has evolved into a comprehensive auto-tech platform, offering services such as instant payments, vehicle inspections, financing, insurance, and even vehicle refurbishment. This holistic approach has not only streamlined transactions but also built trust among consumers in a traditionally unorganized sector.

As of FY24, Cars24 reported the sale of over 200,000 vehicles, marking a significant milestone in its growth trajectory. The company’s revenue for the same period reached nearly ₹7,000 crore, reflecting a 25% year-on-year increase.

In terms of global expansion, Cars24 ventured into markets like the UAE and Australia, aiming to tap into the burgeoning demand for used cars in these regions However, in 2023, the company decided to exit Saudi Arabia and Indonesia to concentrate on its core markets, including India, Australia, Thailand, and the UAE.

The Indian used car market itself has witnessed remarkable growth. In 2024, it surpassed new car sales, with 5.4 million used cars sold compared to 4.16 million new cars. This trend is projected to continue, with the used car market expected to reach 10.8 million units by 2030, driven by factors like increased consumer trust, affordability, and expanding financing options.

Cars24’s journey underscores the transformative power of technology in addressing real-world challenges. By prioritizing customer experience, transparency, and innovation, the company has not only redefined the used car market in India but also set benchmarks for global operations.

Origin Story

The inception of Cars24 stemmed from a deeply personal problem. In a 2023 interview, Vikram Chopra, co-founder and CEO of Cars24, recalled the sheer inconvenience he faced when trying to sell his car. “It took me over a month, countless phone calls, and awkward negotiations,” he said. “It just didn’t make sense that ordering food or booking a cab had become seamless, but selling a car was still stuck in the 1990s.”

This frustration ignited a larger realization: India’s pre-owned car market was ripe for disruption. Along with co-founders Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal, Chopra envisioned a tech-first solution that could simplify and streamline the entire car-selling experience.

Their solution was bold—a full-stack platform that did much more than match buyers and sellers. Cars24 would offer instant payments, vehicle inspections, loan and insurance services, and end-to-end documentation handling. It was built on the belief that convenience alone wouldn’t win the market; transparency and trust would. 

“We realized that if we controlled more of the customer journey, we could create a far better experience,” said Chopra.

Business Landscape and Early Challenges

At the time of Cars24’s launch in 2015, the Indian used car market was dominated by offline brokers, classified ads, and word-of-mouth sales. It was a deeply fragmented and opaque sector with no clear pricing, minimal vehicle history disclosure, and rampant distrust between buyers and sellers.

“There was no organized ecosystem,” said Vikram Chopra in the interview. “A car buyer or seller had to navigate multiple layers of uncertainty—pricing, paperwork, even whether the car had been in an accident.”

Cars24 tackled these challenges head-on by focusing on three key trust-building pillars:

• Rigorous Vehicle Inspections: The company introduced standardized vehicle inspection protocols. Every car listed on the platform underwent a comprehensive checklist to assess its condition, ensuring that buyers got what they were promised.
  
  
• Instant Payments: Sellers could receive payments within hours, a revolutionary feature that significantly enhanced user confidence. This addressed a common complaint that traditional buyers delayed or reneged on payments.
  
  
• End-to-End Documentation: Cars24 simplified the bureaucratic nightmare of car transfers, RC updates, and loan closures. “We didn’t want our users to worry about paperwork—we wanted to remove all the friction,” Chopra explained.
  
  

The startup also invested heavily in building a network of certified buyers and later introduced auction-based selling for more competitive pricing. Over time, this strategic execution transformed Cars24 from a niche digital platform into a trusted national brand, making it synonymous with hassle-free car sales.

Growth Strategies

Cars24’s rise to prominence has been powered by a series of strategic and well-timed initiatives, designed to create a seamless and scalable user experience. One of the most transformative decisions was evolving from a mere listing platform to a full-stack solution. Rather than simply connecting car sellers to potential buyers, Cars24 took complete ownership of the transaction process—including vehicle inspection, documentation, loan facilitation, and insurance services.

 “We wanted to own the entire experience—end-to-end,” said co-founder Vikram Chopra. “Only then could we ensure the consistency and trust customers were looking for.”

Technology also played a pivotal role. Cars24 deployed AI and data analytics to optimize car valuations, personalize buyer-seller matches, and reduce the time to close a transaction. Their proprietary algorithms analyzed real-time market trends and buyer preferences, which allowed for dynamic pricing and better customer targeting.

To expand reach beyond major metros, Cars24 introduced a franchise model, enabling them to scale rapidly to over 150 cities while retaining operational efficiency. This decentralized approach combined the local expertise of franchise partners with the technological backbone of the company, creating a powerful hybrid model for market expansion.

Not limiting itself to Indian roads, Cars24 began its international expansion in 2021, entering markets like the UAE, Australia, and Saudi Arabia. Each region required a localized approach in terms of consumer behavior, regulatory compliance, and pricing dynamics. “We didn’t just replicate our Indian model abroad. We adapted to each geography with custom solutions,” –Chopra.

Together, these strategies not only widened Cars24’s market share but also solidified its position as one of the most trusted and scalable platforms in the used car ecosystem.

Marketing Strategies

From the outset, Cars24 understood that building consumer trust was the key to winning in a traditionally opaque sector. Their early marketing campaigns revolved around this core idea, emphasizing instant payments, quality-checked vehicles, and hassle-free documentation. One of their taglines—“Ab Bechne Wali Feeling Aayegi”—resonated with urban Indians who were tired of dealing with unreliable brokers and endless phone calls.

As the brand scaled, it leveraged celebrity endorsements and high-impact TV campaigns to boost visibility. Collaborations with Bollywood celebrities and sports personalities helped humanize the brand and associate it with credibility and professionalism.

The company also invested significantly in building a robust digital presence. Through targeted SEO, paid media, and content marketing, Cars24 captured the attention of digital-savvy consumers researching car prices, financing options, or DIY transfer processes. Their YouTube channel, for example, features explainer videos, testimonial reels, and behind-the-scenes looks at car inspections and refurbishments—adding layers of authenticity to the brand story.

Importantly, Cars24 took a hyper-localized approach to advertising. Their regional campaigns used local languages, cultural references, and city-specific insights to improve relatability. 

“We realized that a person selling a car in Patna is very different from one in Pune. Our communication had to reflect that,” said Vikram Chopra.

This mix of emotional storytelling, digital engagement, and trust-led messaging positioned Cars24 as not just another tech startup, but a dependable companion in the used car journey.

5 Insightful Lessons Every Entrepreneur Should Learn

1. Prioritize Trust in Fragmented Markets

In sectors where traditional systems are fragmented and unregulated—like the used car market—trust becomes your biggest differentiator. Cars24 identified early that customers were plagued by uncertainty, hidden costs, and complex paperwork. 

By offering transparent inspections, instant payments, and end-to-end documentation, they built a layer of credibility and dependability that competitors lacked. As co-founder Vikram Chopra noted in an interview, “We’re solving a real problem by bringing trust to a market that has never seen it before.” Entrepreneurs venturing into chaotic or informal markets must first earn user trust before scaling.

2. Embrace a Full-Stack Approach

Cars24 went beyond being a listing platform by integrating all parts of the car transaction—from sourcing and quality checks to financing, insurance, and post-sale services. This full-stack approach gave them complete control over customer experience and service quality. It not only helped standardize the user journey but also increased margins and retention. 

Chopra emphasized, “You can’t deliver a great experience if you’re just the middleman—you have to own the process.” For entrepreneurs, the lesson is clear: own more of the value chain to ensure consistency and long-term sustainability.

3. Leverage Technology for Scalability

Cars24 scaled from a single-city operation to a multinational business by embedding technology into every layer of their model. AI-powered valuation engines, predictive inventory management, and real-time analytics allowed them to make data-driven decisions at scale. 

Their tech-first approach meant that each new city or country they entered could be set up more efficiently. “We are a tech company at heart solving mobility problems,” said Chopra. Founders should see technology not just as an enabler, but as the backbone of their growth strategy.

4. Adapt to Local Markets

International expansion brought new complexities—from differing regulations to consumer behavior. Cars24 avoided the trap of simply replicating their Indian model. Instead, they customized platforms and operations for each geography.

 For instance, car inspection parameters and financing options were adapted to meet local standards in the UAE and Australia. “Each market required a ground-up approach,” Chopra shared in an interview. The key takeaway: global ambitions must be met with local execution.

5. Invest in Brand Building

Even with a tech-driven backbone, Cars24 never overlooked the importance of strong branding. Their marketing campaigns were built on trust, speed, and transparency, reinforced through emotional storytelling and relatable messaging. 

Strategic celebrity endorsements, regional advertising, and social media storytelling helped them build deep consumer recall. “People don’t just buy a service—they buy the promise behind it,” Chopra said. Entrepreneurs must view brand building as a long-term asset that complements product and tech innovation.

Conclusion

Cars24’s remarkable rise—from a scrappy startup in India to a global automotive platform—demonstrates the transformative power of solving everyday problems with sharp execution and relentless focus. In a sector long riddled with mistrust, inefficiency, and informality, the founders dared to reimagine the used car buying and selling experience with technology, transparency, and empathy at its core.

By pioneering a full-stack model, investing deeply in AI and data-driven solutions, and building a brand rooted in trust and convenience, Cars24 not only disrupted the pre-owned vehicle industry—they reshaped consumer expectations altogether. Their expansion into international markets like the UAE, Australia, and Saudi Arabia proves that innovation paired with localization can unlock global scale.

As co-founder Vikram Chopra rightly put it in his interview, “Building a great company is not about chasing valuations. It’s about solving problems people care about—again and again, with obsession and clarity.”

For entrepreneurs, Cars24 is more than just a startup success story—it’s a blueprint for building scalable, customer-first businesses in even the most complex and fragmented industries. It reinforces the idea that when you blend domain insight with a tech-enabled mindset and an unwavering focus on user trust, you can unlock massive opportunity—both in India and across the globe.