Four cars were recovered from Uttar Pradesh, they said.
Deputy Commissioner of Police (South) Ishwar Singh said the accused were identified as Rohit Kumar Singh (30) Praveen Saxena (36).
The complainant told police that one Rohit Kumar hired a Maruti Suzuki Swift car from their company.
When the vehicle was not returned to the company at the given time, its location on GPS was checked which revealed it was somewhere in Bareilly, UP, the police said.
When the company officials tried to contact the mobile number given by Kumar, he did not respond, they said, adding that the GPS of the vehicle was tampered with.
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The team tried to track the movement of Kumar but he kept on changing his location. After continous tracking, the team received an input about the accused and after laying a trap, arrested Kumar and recovered the Suzuki Swift car from his possession, they said.
Similarly, in Badaun in Uttar Pradesh, the team laid another trap and Saxena was arrested and a Honda Amaze car was recovered from his possession, the police said.
During interrogation, the accused revealed that they have stolen many other cars by adopting the same modus operandi, they said.