MUMBAI, March 12, 2020 /PRNewswire/ — The CarTrade Group, one of India’s largest online automotive group, is actively looking at companies to acquire or invest into, in the automotive space. The CarTrade Group wants to further strengthen its position as the leading online automotive platform and has earmarked over Rs 400 crores for these investments.
Commenting on the lookout for acquisitions, Mr. Vinay Sanghi, Founder & CEO, CarTrade Group added, “We have been very successful in growing our business organically and inorganically and so, are actively looking out for companies which can complement the services we already offer or fulfill a consumer need which we do not cater to. There are many companies out there which are doing a lot of good work and we want to actively engage with them.”
The group is focusing on investing in all aspects of the automobile ecosystem which includes Finance, Insurance, Logistics, Leasing, Servicing, Auto distribution, Fleet Management, Electric Vehicles etc.
The CarTrade Group is one of the few companies which has successfully integrated and grown the businesses it has acquired. Over the last few years, the CarTrade Group has acquired CarWale – leader in the new car space, Shriram Automall (SAMIL) – leader in the auto auction space, BikeWale – leader in the 2 wheeler classified space and Adroit – leader in auto inspections and valuations, and various other companies.
These acquisitions combined with subsequent successful integration has made the CarTrade Group one of the leaders in the new car and used car space. Over 20 million unique customers come to their platform every month. The platform sells over 1 million vehicles a year. More than 40 OEMs and 15,000 plus dealers work with the CarTrade Group and it has over 180 owned or franchisee stores. The group is the only profitable online automotive platform and transacts approximately USD 3 Billion of GMV per year.