Results · Commerce & Consumer Brands

Cars24 reports revenue drop and wider losses in FY25

By Startup Enthusiast · 27 February 2026

What they do

Cars24 operates a pre-owned vehicle e-commerce marketplace that facilitates buying, selling, financing, and inspection of used automobiles

The company reported a 10% operating scale decline to ₹6,233 crore alongside a 9% rise in net losses to ₹543 crore for fiscal year 2025

Procurement of automobiles remained the largest expenditure center, accounting for 81% of total outlays during the year

Used car platform Cars24 experienced a 10% decline in operating scale during the fiscal year ending March 2025.
Gross revenue for Cars24 India fell to ₹6,233 crore in FY25 compared to ₹6,910 crore in FY24.
Net losses increased by 9% year-on-year to reach ₹543 crore during the same twelve-month period.
Vehicle sales through auctions and retail channels generated approximately 92% of aggregate operating revenue.
Procurement of automobiles remained the primary cost driver, accounting for 81% of aggregate expenditures at ₹5,555 crore.
Total expenditures reached ₹6,898 crore in FY25, decreasing from ₹7,488 crore in the preceding fiscal year.

The revenue contraction follows a 25% year-on-year growth trajectory recorded during the previous fiscal year FY24.
The Gurugram-headquartered firm recently acquired vehicle management platform CarInfo and automotive community platform Team-BHP.
The business has not raised external venture funding in the past three years, with its last major round occurring in December 2021.

Cars24 provides an online marketplace enabling consumers to buy, sell, and exchange pre-owned automobiles.
The platform offers financial services including used car loans and vehicle financing through its lending vertical Loans24.
Additional services include traffic fine payments, vehicle inspections, insurance assistance, warranties, and car scrappage.
The company operates a car stock exchange and provides vehicle pricing intelligence tools for the automotive market.
Operations span multiple global markets including India, the United Arab Emirates, Australia, and Thailand.

SoftBank (participated) — A major multinational investment holding company backing the enterprise.
Alpha Wave (participated) — An investment firm holding a major stake in the company.
Tencent (participated) — A global technology investor supporting previous funding rounds.
DST Global (participated) — A venture capital and private equity firm investing in technology companies.

Product: An online platform for used-car buying, selling, and related lending services.
Customers: Consumers and dealers transacting in used cars.
How it makes money: It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart: Uses AI to improve operating efficiency and support growth.
Operations: Operates across multiple countries and runs auction and retail businesses in India.