CarTrade Launches Used-Car Platform, Targets 2 Million Transactions Annually
CarTrade Tech has launched CarTrade Used Auto, a new platform combining CarWale and OLX India capabilities to streamline used-car buying, selling, exchange and financing across India.
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CarTrade Tech Ltd has launched a new platform, CarTrade Used Auto, which is designed to consolidate the fragmented used-car market in India by bringing buying, selling, exchange and financing services under one ecosystem.
The platform, the company said, brings together the strengths of automotive marketplace CarWale and classifieds platform OLX India to create a technology-led, asset-light marketplace for consumers, dealers, enterprises, lenders and service partners.
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One Platform for Every Used-Car Transaction:
CarTrade Used Auto has been built to support multiple transaction models like business-to-consumer (B2C), consumer-to-business (C2B), consumer-to-consumer (C2C) and vehicle financing.
The company said the platform is meant to simplify the used-car ownership experience by consolidating discovery, pricing, financing, documentation and transaction support into one experience.
CarTrade said the initiative tackles long-standing inefficiencies in India’s used-car market, where buyers and sellers often rely on multiple intermediaries and disconnected services.
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AI-Powered 'SuperDost' Introduced:
CarTrade has also launched SuperDost, a suite of AI agents that will help users in the used-car transaction process along with the platform.
The tools provide services such as vehicle matchmaking, price recommendations and vehicle condition assessments to help customers make better decisions.
The AI layer, the company said, is designed to provide trust and transparency to the process of buying and selling used cars.
The market currently records approximately 5.9 million transactions annually and is expected to grow to between 9.5 million and 10 million transactions by 2030.
With average transaction values ranging between Rs 5 lakh and Rs 6 lakh per vehicle, the used-car market currently represents a gross merchandise value (GMV) of more than Rs 3 lakh crore. The company estimates this could expand to nearly Rs 5 lakh crore to Rs 6 lakh crore by the end of the decade.
