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CARS24 acquires CarInfo to expand into vehicle information services

EntrackrEntrackr · 2m ago
CARS24 acquires CarInfo to expand into vehicle information services
Medial

CARS24 acquires CarInfo to expand into vehicle information services Used-car marketplace CARS24 has acquired vehicle information and management platform CarInfo. This is the Gurugram-based company’s second acquisition within a year, after it took over the automotive community platform Team-BHP. The acquisition brings CarInfo and its other app BikeInfo into the CARS24 ecosystem, though both platforms will continue to operate as standalone apps with their existing teams. CarInfo focuses on simplifying access to vehicle-related information such as registration details, insurance and pollution certificate validity, challans, FASTag status, and other compliance requirements. CARS24 founder and CEO Vikram Chopra mentioned the importance of managing vehicle ownership issues, particularly those like expired documents or inaccessible records. CarInfo was created with the insight that vehicle management for cars and bikes remains complex, reducing the burden by making essential information accessible with minimal effort. While CARS24 has not officially disclosed the deal value, MediaNama reported it at Rs 118 crore, citing a regulatory filing. Founded by Saajid Mani and his team, CarInfo serves more than 12 million monthly active users. Chopra described the platform as a product that has grown through consistent utility, becoming a commonly used tool for managing vehicle needs. The acquisition aligns with CARS24’s broader ambition to expand beyond vehicle transactions into the wider ownership lifecycle. By integrating vehicle information and compliance services, CARS24 aims to deepen customer engagement and create a comprehensive platform for car and bike owners. In FY24, CARS24 sold over two lakh cars and reported revenue close to Rs 7,000 crore. The company is preparing for a potential public market listing. The broader used-car and automotive services space is expected to see further consolidation, with Spinny set to acquire car-servicing platform GoMechanic.

CARS24 acquires Vehicle Info

EntrackrEntrackr · 21h ago
CARS24 acquires Vehicle Info
Medial

CARS24 acquires Vehicle Info Used car platform CARS24 has acquired Vehicle Info, an automotive utility application, as the company aims to build a full-stack vehicle ownership platform. The Gurugram-based company had recently acquired vehicle information and management platform CarInfo. This marks its third acquisition within a year, following the takeover of automotive community platform Team-BHP. Founded in 2017 by Chirag Pipaliya, Vehicle Info provides a B2C and B2B platform offering RTO vehicle information, challan payments, insurance, service history, resale value checks, and license exam preparation tools. With this acquisition, CARS24 plans to integrate Vehicle Info’s capabilities as it expands beyond vehicle transactions to cover the broader lifecycle of vehicle ownership. Vehicle Info will continue to operate as a standalone app with its existing team while collaborating with CARS24. Founded in 2015 by Vikram Chopra, CARS24 offers services such as buying, selling, loans, insurance, and servicing, and also provides vehicle lending through CARS24 Financial Services. After posting a 25% year-on-year growth in FY24, CARS24 India’s operating scale declined by 10% in the fiscal year ended March 2025. Its net losses also increased by 9% to Rs 543 crore, while gross revenue fell to Rs 6,233 crore in FY25 from Rs 6,910 crore in FY24.

CARS24 acquires Team-BHP

EntrackrEntrackr · 10m ago
CARS24 acquires Team-BHP
Medial

CARS24 acquires Team-BHP CARS24 has acquired Team-BHP, a major automotive community platform in India. The move aims to improve digital infrastructure and enhance automotive decision-making for users. Team-BHP will continue to operate under its founding team with its current policies, including no advertising and community-based moderation, the company said in a press release. Founded in 2004, Team-BHP provides user-driven reviews, ownership reports, and vehicle insights. CARS24 will focus on integrating technology, product upgrades, and AI tools into Team-BHP without altering its core operations. Vikram Chopra, CEO of CARS24, stated that the partnership will support better data use and expand platform capabilities. Rush Parekh, founder of Team-BHP, emphasized the platform's continued independence while leveraging new resources for growth. The companies will work together to enhance features for users involved in vehicle buying, selling, and ownership. CARS24, which is backed by Alpha Wave, SoftBank, Tencent, and DST Global, claims to have sold 200,000 cars in the fiscal year ending in March 2024. During the period, its gross revenue grew to Rs 6,917 crore from Rs 5,530 crore in the previous fiscal year.

Cars24 reports 10% revenue decline in FY25; losses rise marginally

EntrackrEntrackr · 13d ago
Cars24 reports 10% revenue decline in FY25; losses rise marginally
Medial

Fintrackr All Stories Cars24 reports 10% revenue decline in FY25; losses rise marginally Following a 25% year-on-year growth in FY24, used car platform Cars24 India's operating scale declined 10% in the fiscal year ended March 2025. During the same period, the firm’s net losses also increased 9% to Rs 543 crore. Cars24 India’s gross revenue fell to Rs 6,233 crore in FY25 from Rs 6,910 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). The sale of cars through the auction business and retail contributed approximately 92% of the total revenue. This income declined by 11% year-on-year to Rs 5,733 crore in FY25 from Rs 6,432 crore in FY24. Income from financial services, largely interest on loans, stood at around Rs 215 crore during the period. This income came mainly from Loans24, the lending vertical of CARS24, which provides third-party loans. The rest of the income earned through service fees, parking fees, and the sale of other services including insurance assistance and warranties. The Gurugram-based company also recorded Rs 125 crore in non-operating income in the previous fiscal from interest on bank deposits, commercial papers, debentures, and other sources. This pushed Cars24 India’s total income to Rs 6,358 crore for the year. Cars24’s holding company is registered in Singapore and controls 12 subsidiaries across India, Australia, the UAE, and Thailand. The financials of the Singapore-based holding entity may vary from those reported by the Indian entity in filings with the Registrar of Companies (RoC). For the pre-owned vehicle seller, procurement of cars remained the largest cost centre and accounted for 81% of the total expenses. In line with lower scale, this cost declined 9% to Rs 5,555 crore in FY25. Employee benefits expenses rose 15% to Rs 604 crore in the previous fiscal and included Rs 36.5 crore towards ESOP costs. Meanwhile, spending on marketing and advertising declined 25% to Rs 106 crore. Its technology, legal, broker commissions, impairment loss on financial assets, and other overheads took the company’s total expenditure to Rs 6,898 crore in the last fiscal year, down from Rs 7,488 crore in FY24. The 10% decline in Cars24 India’s operations led to wider losses, which rose 9% year-on-year to Rs 543 crore in FY25 from Rs 498 crore in FY24. Its ROCE and EBITDA margin worsened to -21.13% and -6.77% respectively. On a unit level, the company spent Rs 1.11 to earn one rupee of operating revenue in FY25. As of March 2025, Cars24 India reported current assets of Rs 1,988 crore, which includes Rs 155 crore in cash and bank balance. The SoftBank-backed company claimed an 18% year-on-year increase in adjusted net revenue to Rs 651 crore in the first half of FY26, while its adjusted EBITDA loss declined 36% YoY to Rs 162 crore. Cars24 recently acquired vehicle information and management platform CarInfo. This is the second acquisition within a year, following its takeover of automotive community platform Team-BHP. Cars24 has not raised external funding in the last three years. In December 2021, the company raised $450 million at a valuation of $3.3 billion. Its major investors include Alpha Wave, SoftBank, Tencent, and DST Global.

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