Cars24 plans to sell used cars in AP

Hyderabad: Autotech company Cars24 on Tuesday announced its plan to sell pre-owned vehicles in Vijayawada and Visakhapatnam, Andhra Pradesh as there is an increase in demand from the young demographic of tier 2 and 3 cities with the availability of easy financing options.

Cars24 entered Hyderabad in 2016, as a supplier of pre-owned vehicles to the dealers of the city. Only from 2019, the startup has been catering to individual customers. According to Car24’s data, from April-June quarter, car owners in Hyderabad sold pre-owned vehicles of a total worth of Rs 103 crore, on the platform.

Speaking about its market in Hyderabad, Co-Founder of Cars24 Gajendra Jangid, said, “In the Telugu States, Hyderabad is our supply hub for pre-owned cars. We are present across four cities of the two States for purchase of used cars, however till now, the sales have been in Hyderabad only.”