Forbes, one of leading business magazines that features articles on finance, industry and investing and marketing topics has covered CarTrade.com among top 10 ecommerce companies in India. We being one of the leading auto classified portals has managed to raise about $44 Million funding. The portal offers vehicle listing, price information and car certification for those looking out to buy a used car. For those interested in opting for a new one, the portal offers reviews, on-road prices, comparison with other models and also features latest news fom the auto industry.
The company also operates B2B auction portal under the name CarTrade Exchange, which is used by banks and other institutions to sell cars in bulk. Commenting on the portal, Vinay Sanghi, CEO CarTrade.com, said, “We have about 1.45 lakh listing on the site, four times that of any competition.” The company has about 110 engineers who conduct 125 point check on every car. This indeed makes it a first company to offer consumer certification and repair estimates. Commenting more on the occasion, Mr. Sanghi added, “We were the first ones to enable intercity buying of cars. We down to collating and bringing dealers fom across the country on the platform.”
The company's objectives is to stick to cars as its main objective is to selling and buying cars based on a innovative B2B exchange module that makes it the largest car auctioning portal in the country. The industry being identified as the next billion dollar opportunity, Alok Mittal, Ex-MD at Cannan Partners who have invested in CarTrade.com, said, “If you take any geography in the world which has more internet users than India, for instance the US, UK and China, there are multimillion dollar companies in the used car space.”
