More than 40 per cent of Cars24's sales are now linked to rural registration and transport office (RTO) locations, although procurement remains concentrated in urban markets.
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
The average fundraise for the top 20 startups stood at $195 million in CY25.
Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser, the company said in a release on Tuesday. Spinny, however, did not disclose the amount of investment by Tendulkar in the company. Spinny recently became a Unicorn with the closing of a $283 million Series-E round of funding, which took the total capital raised by the platform to more than 530 million and giving it a valuation of $1.8 billion.
Data from used-car platforms suggest that buyer preferences have remained broadly stable post-GST, with SUVs retaining their dominance even as price adjustments played out across segments.
77 per cent of all transactions in the January-March 2025 period took place digitally, indicating continued preference for online car purchases.
India's used car market, which has been growing steadily at 10-12 per cent over the last 2-3 years, is expected to reach $40 billion in FY26.
'Unless a comedian is involved in something society deems unforgivable...'
The country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year, a report by Orios Venture Partners said. The report titled 'The Indian Tech Unicorn Report 2021' said India saw 46 unicorns (companies with $1 billion valuations) in 2021 alone, more than doubling the total number of unicorns to 90. These include ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny and others. India - with 90 unicorns - is the third-largest unicorn hub behind the US (487) and China (301), and ahead of the UK (39).
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
The cool days of late September, with damp courts expected, will level the playing field and for the first time, other than when Rafael Nadal has been injured, he looks vulnerable on his beloved clay.
