The company plans to open 200 stores across India by 2020
CarDekho Gaadi store, a retail auction model for pre-owned cars, today opened two stores in Ahmedabad. The opening of these stores is a part of an ambitious move by CarDekho to establish 200 Gaadi stores across India by 2020. It already has 41 stores in Delhi-NCR, Bangalore, Jaipur, Pune and Lucknow.
The Ahmedabad launch is in conjunction with opening of stores in Hyderabad and Mumbai. Ahmedabad is witnessing a surge in car sales, especially of pre-owned cars. With the new stores, CarDekho Gaadi Store aims to provide a one stop shop destination for providing a hassle-free vehicle selling experience to its customers while offering optimum resale value for their cars. The stores will also helps customers with RC transfer, loan closure assistance, instant money transfer, and methodical inspection of cars.
Anubhav Deep, Co Founder, Gaadi.com said, “ About 85% of the used car market is still unorganized and hence the need for CarDekho Gaadi Stores. We aim to provide an easy and transparent used car selling experience with all our existing and upcoming network of stores across the Indian sub-continent. So far, the response from our customers has encouraged us to expand our reach further and we are positive about our future basis the immense growth this sector has to offer.”
According to a study by McKinsey & Company, the used-cars segment will continue to grow in India. It has already become Asia’s third-largest car market. Besides, due to the growing focus on the lifespan of cars and stricter norms on emissions and safety, and the upcoming launch of multiple electronic cars, people are wary of purchasing new vehicles. To talk numbers, last fiscal year, Indian sold more cars (over 4 million)- the ratio for cars bought and sold was 1:2 to 1:3.
The Society of Indian Automobile Manufacturers (SIAM), in a similar forecast, states that market growth will increasingly be driven by rising penetration of online platforms such as Cardekho Gaadi, that enable used car dealers to reach larger audiences.