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CarTrade Group earmarks Rs 400 crores for auto ecosystem investment

CarTrade Group earmarks Rs 400 crores for auto ecosystem investment
Aditya Nadkarni Aditya Nadkarni Friday 13 March 2020, 17:34 PM

The CarTrade Group is looking at companies to acquire or invest into, in the automotive space. The group is focusing on investing in all aspects of the automobile ecosystem which includes finance, insurance, logistics, leasing, servicing, auto distribution, fleet management and electric vehicles. The company wants to further strengthen its position as the leading online automotive platform and has earmarked over Rs 400 crores for these investments.

Commenting on the lookout for acquisitions, Vinay Sanghi, Founder and CEO, CarTrade Group, said, “We have been very successful in growing our business organically and inorganically and so, are actively looking out for companies which can complement the services we already offer or fulfill a consumer need which we do not cater to. There are many companies out there which are doing a lot of good work and we want to actively engage with them.”

Over the last few years, the CarTrade Group has acquired CarWale, Shriram Automall (SAMIL), BikeWale and Adroit. These acquisitions combined with subsequent integration has made the CarTrade Group the leader in the new car and used car space. Over 20 million unique customers come to their platform every month. The platform sells over 1 million vehicles a year. More than 40 OEMs and more than 15,000 dealers work with the CarTrade Group. The company has over 180 owned or franchisee stores. The group is the only profitable online automotive platform and transacts approximately USD 3 Billion of GMV per year.

 

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