CarTrade (NSE: CARTRADE) operates as an online automotive market, operating in the automotive industry. The company primarily offers a platform for buying and selling new and used vehicles, facilitating car auctions across numerous cities. It was founded in 2006 and is based in Navi Mumbai, India.
Expert Collections containing CarTrade
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
CarTrade is included in 1 Expert Collection, including Auto Commerce.
Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.
Latest CarTrade News
Nov 25, 2023
A heightened interest in vehicle purchases in 2023, yielding advantages for automotive OEMs and growing interest among consumers in Tier II and Tier III cities for pre-owned vehicles are some of the other findings. By Autocar Pro News Desk 25 Nov 2023 Vehicle safety file image Mobility Outlook, a dedicated multi-modal platform under CarTrade Tech, released a ground-breaking survey on road safety. The survey delves into the current automotive landscape, pinpointing significant changes in consumer preferences and attitudes towards safety and vehicle purchase decisions in 2023 compared to the previous year. With the automotive industry evolving rapidly, these findings serve as a crucial resource for automakers, policymakers, and industry stakeholders. Key findings of the 2023 survey in comparison with 2022: Greater Emphasis on the Importance of Safety Rating The 2023 survey highlights a significant shift in consumer preferences. The importance of safety ratings, particularly among those aged 45 to 55, has seen a slight increase compared to 2022. This indicates that mature consumers are placing a higher emphasis on safety features when making their vehicle choices, showcasing a changing mindset from the previous year. Awareness of Safety Features In 2023, non-metro respondents were more aware of safety features such as the Anti-lock Braking System (ABS) and Electronic Stability Program (ESP) than airbags. This finding underscores disparities in consumer perceptions and awareness levels, suggesting that consumers in non-metro areas are more informed about certain safety technologies. Vehicle Purchase Intentions The survey results for 2023 provide a reassuring outlook for the automotive industry in India. Across all consumer segments, there is a persistent positive inclination towards purchasing vehicles, which bodes well for the country’s automotive Original Equipment Manufacturers (OEMs). This optimistic trend indicates that consumers are still actively considering buying new vehicles. Pre-Owned Vehicle Preferences An interesting shift in consumer behaviour has emerged in 2023. Compared to 2022, there is a noticeable change among Tier-II and Tier-III city respondents (38 percent) who are now more open to purchasing used or pre-owned vehicles. This evolving trend reflects a growing acceptance of pre-owned vehicles, particularly among consumers residing outside major metropolitan areas. Willingness to Spend on Safety A notable shift in consumer behaviour in 2023 is the increased willingness to invest in safer vehicles. The safety consciousness of individuals and families is a key driving force behind this change. More than 38 percent of respondents in 2023 are willing to allocate an additional Rs 1 lakh for a vehicle with enhanced safety features, indicating a greater willingness to pay for safety compared to 2022. This shift underscores the growing importance of safety in the decision-making process for potential vehicle buyers. Commenting on the survey, Mr Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech said, “Road safety is paramount in our journey towards building a safer and more responsible automotive ecosystem. The data presented in our mobility outlook survey underscores the significance of safety as a top priority in consumers' minds. It provides valuable insights for our industry stakeholders as we continue to strive for better safety standards and develop innovative solutions aimed at reducing road accidents and fatalities.” These findings underscore the evolving preferences and priorities of Indian consumers when it comes to road safety and vehicle choices. As the automotive industry continues to adapt to these changing dynamics, CarWale remains committed to providing a trusted platform that empowers consumers with the knowledge they need to make informed decisions.
CarTrade Frequently Asked Questions (FAQ)
When was CarTrade founded?
CarTrade was founded in 2006.
Where is CarTrade's headquarters?
CarTrade's headquarters is located at S Pranavanandji Marg, Sector 30A, Vashi, Navi Mumbai.
What is CarTrade's latest funding round?
CarTrade's latest funding round is IPO.
How much did CarTrade raise?
CarTrade raised a total of $272.7M.
Who are the investors of CarTrade?
Investors of CarTrade include Warburg Pincus, Temasek, March Capital, Chip Perry, Canaan Partners and 4 more.
Who are CarTrade's competitors?
Competitors of CarTrade include Droom, Cars24, Spinny, CarDekho, OLX and 7 more.
Compare CarTrade to Competitors
Cars24 is a technology-enabled used car marketplace. It provides a used car trading platform offering online and offline services and also enables the selling of used cars and used two-wheeled motorbikes. The company fixes and then resells vehicles for an agreed-upon price. It was founded in 2015 and is based in Gurgaon, India.
CarDekho provides an auto portal helping users with car research, finance, insurance, and used cars. The company has tie-ups with various auto manufacturers, car dealers, and financial institutions to facilitate the purchase of vehicles. The company was founded in 2008 and is based in Gurugram, India.
Spinny operates as a pre-owned car trading platform. It allows users to select cars online and book a test drive. It also helps users to purchase a vehicle matching their needs. The company was founded in 2015 and is based in Gurugram, India.
Droom is an online marketplace for buying and selling new and used automobiles. The company also provides a suite of software for used car transactions. The company was founded in 2014 and is based in Haryana, India.
VavaCars operates as a technology-enabled used car platform that provides a transparent and hassle-free car-buying experience, leveraging its proprietary pricing and inspection technology to make car ownership accessible and affordable. In addition to buying and selling used cars, VavaCars also offers ancillary services such as servicing and extended warranty, providing customers with a comprehensive and convenient car ownership solution. It was founded in 2019 and is based in Istanbul, Turkey.
TRED is a company that operates in the automotive industry, focusing on the pre-owned car market. The company provides a platform for private party person-to-person transactions, connecting buyers and sellers of pre-owned cars, and offering advanced technology and financing options. It also ensures the protection and security of these transactions by handling the paperwork and payment processes. TRED was formerly known as NewOrderAuto Inc.. It was founded in 2011 and is based in Seattle, Washington.