Udaipur : CarDekho Gaadi, a retail auction model for pre-owned cars, today opened its store in Udaipur city. The inauguration is a part of an ambitious move by CarDekho to establish 200 Gaadi stores across India by 2020. The company already has 56 stores in Delhi-NCR, Bangalore, Jaipur, Pune, Lucknow, Ahmedabad, Hyderabad, Karnal and Mumbai. The opening of the store coincided with the opening of a similar store in Jodhpur.
CarDekho Gaadi is gradually expanding its reach in Rajasthan. Udaipur is a historic city and attracts tourists from across the globe. The city has been witnessing a surge in car sales, especially of pre-owned cars. The store aims to be a one-stop destination for customers in the market for pre-owned cars. It will also help customers with RC transfer, loan closure assistance, instant money transfer, and methodical inspection of cars.
Mr. Vibhor Sahare, co-founder and CEO Gaadi com said, “We have been receiving phenomenal market response on our CarDekho Gaadi stores. Our rapidly increasing operations in cities across the country reaffirm our belief in this segment. The store in Udaipur is part of tour plan to increase our footprint in Rajasthan. Using our expertise in the used car ecosystem, we will continue to build a trusted platform for selling used cars in India.”
According to a study by McKinsey & Company, the used-cars segment in India will continue to grow. It has already become Asia’s third-largest car market. In the last fiscal year, 4 million second-hand cars were bought and sold in the country. Besides, due to the growing focus on the lifespan of cars and stricter norms on emissions and safety, and the upcoming launch of multiple electronic cars, people are wary of purchasing new vehicles.
The Society of Indian Automobile Manufacturers (SIAM), in a similar forecast, states that market growth will increasingly be driven by rising penetration of online platforms such as CarDekho Gaadi, who enable used car dealers to reach larger audiences.