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Used car start-ups with tech and investor money are upping the pace

Start-ups armed with tech and investor money are upping the pace and legacy players are upping the ante

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The Indian used car market was already one of the world’s largest and fastest growing. A slew of regulatory changes and the Covid-19 pandemic have accelerated the push

Arindam Majumder Shally Seth Mohile New Delhi/Mumbai

6 min read Last Updated : Jan 01 2022 | 6:05 AM IST

The year 2021 has been remarkable for the Indian start-up industry. The country added 54 unicorns, the third highest in the world, only behind China and the USA. Even within this funding glut, one sector has been an investors’ favourite — the online used car platform.

A sector once dominated by traditional car makers such as Maruti Suzuki’s True Value and Mahindra & Mahindra’s First Choice has seen a surge of start-ups — Cars24, CarDekho, Spinny, CarTrade. Investors have been super-bullish about their tech-driven, asset-light business model — all the four companies turned unicorn in 2021 with CarTrade listing on

Topics : Used car market used cars Indian startups

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