“The launch of our MRLs in the Southern markets of Karnataka, Tamil Nadu, and Telangana will allow consumers’ access to high-quality cars and provide job opportunities in the region. “Karnataka has recently emerged as the fourth-largest exclusive economic cluster development hub globally, making it an attractive destination for newer employment opportunities,” said Mundra. This will make the entire process efficient and effective while eliminating subjectivity. The brand also leverages AI, machine learning and data science to standardise and optimize the refurbishment process. Through the convergence of technology-driven cutting-edge facilities, Cars24 said it is transforming the pre-owned auto industry and thereby filling the standardisation and benchmarking gap prevalent in the industry. The majority of the used car market is primarily unorganised and has been plagued by inefficiencies due to the inherent information asymmetry in the vertical. “The latest MRL in Bengaluru will ensure that only the highest quality vehicles are delivered to consumers in the region.”Ĭars24 said it is propelling change in the pre-owned car ecosystem and setting benchmarks for high-quality used cars.
Bengaluru is an important market for Cars24 and the Chennai-Bengaluru industrial corridor is a major region for all automotive players in the country,” said Kunal Mundra, CEO, CarsIndia- Cars24.
“We are excited to launch our second-largest Mega Refurbishment Lab in the IT capital of India. This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation.
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