Cars24 reaches ₹11,000cr annualized GMV run rate in August 2026
Cars24, the go-to platform for buying used cars online, just reached an annualized GMV run rate of approximately ₹11,000 crore in August 2026.
The company's growth is impressive, with transaction GMV up 37% year over year, with higher net revenue and a booming financing division helping drive things forward.
Cars24's AI generates 90% of code
AI is making a big difference at Cars24: 90% of its code is now generated by artificial intelligence, boosting efficiency and Revenue per FTE increased 52.3% year-on-year.
Its financing arm disbursed ₹415 crore in loans (a huge 70% jump), while adjusted net revenue grew 46%.
Globally, it's seeing strong numbers too: GMV in Australia climbed 30%, EVs make up one-fourth of business there, and it strengthened its position to approximately 7% of the used-car market in the UAE.
In August alone, Cars24 handled over 5.4 lakh total transactions for vehicle ownership services.