CARS24 reported a strong performance in H1 FY26, driven by solid operating momentum, improving unit economics and rapid progress in its evolution from a buy-sell marketplace into a comprehensive, full-stack vehicle ownership platform.
Adjusted Net Revenue rose 18% year-on-year to ₹651 crore, while Adjusted EBITDA burn declined by 36% YoY to ₹162 crore. The company continues to strengthen its leadership as the largest online used-car platform across India, the UAE and Australia.
During the first half of the fiscal, nearly 85,000 vehicles were transacted across the three markets, generating Vehicle Transaction GMV of ₹3,731 crore. Financing emerged as a key growth engine, with loan disbursements increasing nearly 38% YoY to ₹1,637 crore globally. This expansion is increasingly driven by non-captive financing solutions such as dealer consumer financing and refinancing, extending well beyond traditional captive attach rates.
Vehicle Ownership Services recorded strong traction. Over the past 18 months, CARS24 has transformed into an end-to-end vehicle ownership ecosystem offering insurance, challan payments, CarTruth services (including pre-delivery inspections and vehicle history reports), buyback solutions and Chauferly. These services generated ₹94 crore in GMV during H1, with transaction volumes rising 19x. The acquisition of CarInfo further deepens CARS24’s focus on this high-margin segment, reinforcing its long-term engagement strategy under the promise of “Better drives, better lives.”
CARS24 remains a technology-first platform, serving more than 11 million monthly users through a seamless, data-driven experience. The company is also steadily becoming an AI-first organisation, with calling, inspections, document checks, customer support and hiring being rebuilt on its in-house AI stack. Today, AI-powered voice systems handle over 7 lakh minutes of calls each month, while inspections are 30% faster. CARS24 was recently recognised by OpenAI among the top 0.0025% of AI builders globally.
Looking ahead, H2 FY26 is on track to deliver ₹750+ crore in Adjusted Net Revenue, representing approximately 35% YoY growth, with transaction GMV expected to accelerate further. The company is targeting an IPO within the next 6–12 months. With a total addressable market exceeding USD 200 billion, CARS24 is positioned to compound growth across multiple pillars of the automotive ownership lifecycle.
Founder & Group CEO Vikram Chopra underscored the human impact behind the platform’s work, recalling how helping a grieving father purchase the car his late son had planned to gift him became a powerful reminder of the responsibility the company carries.
Beyond business expansion, CARS24 has welcomed Team-BHP—India’s most respected automotive community—into its ecosystem. With over 3 million monthly user sessions, Team-BHP remains one of the most trusted voices in the Indian automotive space, and CARS24 plans to support its growth while preserving its independence.
As part of its broader responsibility, CARS24 has also launched Crashfree India, a long-term initiative aimed at reducing road accidents through collaboration with policymakers, traffic authorities and experts. The programme focuses on better policy, improved infrastructure, technology-enabled enforcement, faster emergency response and sustained public awareness.
Reaffirming the company’s long-term vision, Chopra said CARS24 is committed to making vehicle ownership and driving simpler, safer and meaningfully better—for customers in India and around the world—while continuing to build with purpose and responsibility.
