Ambitious plans to open stores across the country
On 29 August 2019, CarDekho Gaadi store, a retail auction model for pre-owned cars, launched 7 stores in Mumbai. As part of the company’s ambitious plan, by 2020 it is planning to open 200 Gaadi stores across. Currently, it already has 49 stores in Bangalore, Delhi-NCR, Pune, Jaipur, Ahmedabad, Lucknow, Karnal and Hyderabad. The opening of the store in Mumbai marks its 50th store milestone within three months for CarDekho Gaadi.
CarDekho targets to invest Rs 200 crores in the expansion of its Gaadi Stores. Till date, it has already invested Rs 50 crore to bring quick and wholesome solutions for customers at the stores. As part of planning, the newest store opened in Mumbai will attract people from all over the country with a younger population migrating in the city witnessing a surge in car sales. Providing additional services such as RC transfer, Loan closure assistance scientific car inspection and instant money transfer aiding them to create a positive image in the market.
50Th store milestone for CarDekho
“It’s a proud moment for us that we have opened our milestone 50th store in Mumbai. We have been receiving a phenomenal market response at our CarDekho Gaadi stores across regions and we are excited to foray into Mumbai which is an important market for us. The company’s fast-paced expansion is a testimony of our right strategy meeting customers’ needs. Our aim is to be able to buy 14000-15000 cars each month by the end of this financial year. With this launch, we have further deepened our root in the used car ecosystem of Maharashtra and now are here to provide ease of selling and buying used cars for our Maharashtrian customers. We will continue to invest our time and energy in building a trusted platform for selling used cars in India,” said Vibhor Sahare, Co-founder and CEO of Gaadi.com.
Growth of Used Car Segment in India
According to a research report, Asia being the third-largest car market, the used-car segment will continue to rise in India. 4 million second-hand cars were bought and sold in India in the last fiscal year. A similar forecast states that the market will grow with the rise in the online platforms such as CarDekho Gaadi enabling used car dealers to reach larger audiences.