CARS24 expects its new model to contribute 35-40% in the overall business by the end of 2020.

CARS24 to connect sellers directly with buyers to simplify process
Atom Tech Shorts Saturday, March 14, 2020 - 16:44

CARS24, a tech enabled used car platform, has announced that it will now connect sellers with buyers directly making the process more transparent and easier for its new-age customers. The newly launched model will enable customers sell their cars in three simple steps - they can visit any CARS24 branch for a free car inspection, meet the genuine buyers that CARS24 will shortlist for them, and close the deal on the negotiated price while CARS24 will help them in closing all the paperwork. 

As per the model, the company will align a dedicated relationship manager to a seller who will take care of all the background checks, verification, arranging meetings and paperwork while saving customers from all the hassle that they might face while selling a car on their own. Ensuring the privacy of the sellers, CARS24 will further ensure that the personal details and the car details are not shared with the buyers until the meeting is finalised. This model will enable the customers to take the final decision on the sale price of their car. 

Commenting on the announcement, Vikram Chopra, Co-founder and CEO, CARS24 said, “We are glad to introduce our new model for our customers. This will completely change how people currently sell cars online.  Anyone who has tried selling cars through classifieds knows that it’s a time consuming and laborious process. Not only does it take several weeks of effort to close a deal, but involves interacting with strangers, numerous calls and haggling for price. We are changing this forever. A seller can now sell his car directly to end customers but without any headache. Every seller is assigned a dedicated relationship manager who verifies all the buyers based on intent and expected price. As a result, the seller gets to sell his car at his price. Not just this, we also take care of all the paperwork while the customer can sit back and relax.”

With a motive to make the car selling process more convenient and quicker for the customers, CARS24 has been investing a lot on its tech enabled platform that enables its users buy and sell verified pre-owned cars. Last year, the company introduced the consumer business model on its platform where buyers can buy their dream cars from a pool of verified cars.

As part of its ongoing expansion strategy, the company further plans to strengthen its reach by launching its services in 200 cities by FY21 and intends to scale up its presence in 300+ tier 2,3 and 4 markets by 2021. Cars24 has been successfully closing a transaction of more than 15,000 cars per month and has witnessed 110% growth in the business, the company says. 

 

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