Results · Mobility & Logistics

Cars24 reports August GMV of ₹937 crore

By Startup Enthusiast · 8 September 2026

What they do

Cars24 operates an online platform for buying and selling used cars, alongside financing, insurance, and vehicle ownership services

The company recorded a transaction gross merchandise value of ₹937 crore in August, achieving an annualised run-rate of ₹11,000 crore

Adjusted net revenue grew faster than gross merchandise value, reaching ₹173 crore for the month while maintaining positive EBITDA

Used-car platform Cars24 reported a transaction gross merchandise value (GMV) of ₹937 crore in August, marking a 37% increase compared to the previous year.
Monthly performance pushed the company to an annualised transaction GMV run-rate of approximately ₹11,000 crore.
Adjusted net income touched ₹173 crore during August after expanding 46% from the prior year, setting up an annual run-rate above ₹2,000 crore.
The company disbursed ₹415 crore in loans during August, representing a 70% year-on-year rise and establishing an annualised lending run-rate of ₹5,000 crore.
Total transactions across its vehicle ownership services surpassed 5.4 lakh during the month.
The business remained EBITDA-positive in August, posting earnings of ₹0.7 crore after recording a loss in the previous month.
Management attributed operating leverage gains to artificial intelligence, with AI writing 90% of the company's code and revenue per full-time employee increasing 52.3% year-on-year.

The company is evolving from a pure buy-sell platform into an end-to-end vehicle ownership ecosystem earning across financing and insurance.
Competitors in the used-car sector have faced diverging models, with some shifting away from inventory-heavy operations towards commission-based structures.

Operates an online marketplace for buying and selling used cars and bikes with value-added services.
Provides financial services including used car loans, loans against cars, and personal loans through an in-house non-banking financial company.
Offers vehicle ownership tools including challan payment, FASTag recharges, road-side assistance, vehicle inspection reports, and warranty services.
Generates revenue through transaction commissions, dealer services, vehicle sales, lending interest, and insurance brokerage.
Operates internationally in markets including the United Arab Emirates and Australia, alongside its primary operations in India.

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.