CARS24, one of the world’s fastest-growing e-commerce platforms for pre-owned vehicles, has entered the UAE.
The company has invested heavily on its technology framework and has become one of the first companies in the UAE to provide a seamless car buying experience entirely online. A customer can browse through thousands of cars, identify and book their favourite car, complete the full payment and documentation process, and get the car home delivered. CARS24 has made car buying as easy and simple as shopping for groceries online.
All cars listed on the CARS24 platform go through a 150+ point inspection check, are refurbished thoroughly, and undergo the stringent RTA test before they are listed online. Every car bought from CARS24 comes with a 7 days return policy and 2 years warranty. CARS24 aims to enter the other Middle Eastern and Southeast Asian markets later this year. The company has already sold close to 400,000 cars in other international markets.
“UAE is known across the globe for its appetite for cars, and for early adoption of technology across industries. The growing population, and the fact that most UAE families have an average of two cars, makes this market an interesting playground for CARS24. We are here to cater to the needs of car lovers and have invested heavily in technology to ensure that they can buy cars with a click of a button. We aim to offer our customers an easy, seamless, and transparent car buying experience,” said Abhinav Gupta, CEO, Gulf Region, CARS24.
CARS24 has earmarked an investment of over AED400 million for international markets in 2021. These funds will be utilised to build the brand in these new international markets, coupled with a strong supply of cars for the platform and building a state-of-the-art workshop to recondition cars to ensure top quality.
“Our expansion into markets such as UAE, Australia, and Southeast Asia marks a milestone moment in the growth of CARS24 as we introduce a whole new world of cars to our new audiences. We strongly believe that CARS24 is well-poised to scale an explosive growth trajectory internationally and we will continue to offer our burgeoning roster of offerings to newer markets,” added Abhinav.
Founded in 2015, CARS24 facilitates a seamless experience for UAE customers looking to buy cars by providing end-to-end solutions on the backbone of strong technology. The company’s rapid growth and expansion was made possible by using the product, technology, and data science to fuel growth in the pre-owned cars sector. This framework further enabled the highest quality experience for customers, who were able to buy the car online right from the comfort of their homes.
The company has raised a funding of US$400 million till date. CARS24 is backed by marquee investors like Sequoia India, Exor Seeds, DST Global, Kingsway Capital, Unbound, Moore Strategic Ventures, and KCK.
“Leading with ‘clicks over bricks’ culture across its markets, our company makes pre-owned car buying simple and convenient by providing a wide assortment to choose from. In this pursuit, the company already has thousands of cars available for sale in its international markets, which are just a click away and will be home delivered,” concluded Abhinav.