September 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

CarTrade launches one-stop services platform to buy, sell pre-owned cars

Multi-channel auto platform CarTrade Tech has launched a tailor-made one-stop service for hassle free buying and selling pre-owned cars across nine cities, a release said on Tuesday. The newly-launched offline and online retail platformCarWale abSure‘ also offers customers services such as free home car inspection, loan closure assistance, guaranteed ownership transfer and assured payments within 24 hours post-inspection, among others, it added.

CarWale abSure showrooms are getting launched across nine cities — Mumbai, Bangalore, Surat, Kanpur, Noida, Chennai, Bhopal, Kolkata and Ahmedabad — with more to be added in the near future, it added.

According to the company, the domestic used car market is expected to grow at a CAGR of at least 11 per cent in the next five years, from its current size of approximately 4.4 million cars in FY2020 to around 8.3 million cars in FY 2026.

Since the COVID outbreak, it has been witnessed that the majority of used car buyers research online first to compare various options and get a fair idea of the market; which is then followed by offline visits to dealerships and conducting test drives before making the final purchase, it said.

“CarWale abSure (Absolutely Sure) focuses on customer trust, transparency and ease and is thereby set to become a real disruptor in the used-cars segment. It is designed to facilitate the end-to-end customer buying journey right from the research level,” the company said in the release.

“…The purchase and ownership of a pre-owned car and the disposal of a pre-owned car is as important and significant as the buying of a new car.

“It is imperative to keep customer confidence at the helm of this transaction and minimise inadequacies pertaining to trust, transparency and financing mechanisms. CarWale abSure will focus on mitigating these gaps by striking equilibrium between the seller’s needs and the buyer’s demands,” said Banwari Lal Sharma, CEO for consumer business,

Tech Ltd.

CarWale abSure now provides the complete buying experience right from choosing the car online to offline delivery, the company said, adding that the platform offers a seven-day money back guarantee, which gives them the option to return the purchased car within seven days and get a full refund if they are not satisfied with it.

All certified used cars sold by the platform will have a one year or 15,000 km comprehensive warranty cover as standard along with 1 year free on-road assistance across pan-India, it stated.

“By enabling online-offline access to a great selection of high-quality used cars for sale, along with services such as insurance, finance, among others, we intend to propel the growth of used-cars market and enable it to reach its full potential while empowering stakeholders across the value chain,” said Abhishek Patodia, Senior VP for used cars business at CarTrade.

CarTrade Tech has presence across vehicle types and value-added services. The brand’s platforms operate under several brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.

These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles.

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