CarDekho plans to hire 2,000 people as used cars are selling like hot cakes in India

  • Used car startup CarDekho is set to hire 2,000 people in 2019-20, and wants to add 150 stores by the end of the year.
  • The 11-year old startup raised $110 million in funding in January 2019.
  • Even while new car business is witnessing a slowdown, the used car platforms have seen a growth in business.
Indian used cars platform CarDekho plans to hire 2000 people to scale up its businesses and add 150 stores by December 2019, according to a report.

The startup, which already has a headcount of over 2800, aims to hire more in both tech and non-tech roles. The reports further say that CarDekho is planning to hire senior-level professionals across insurance, fintech and retail sectors.

“We have witnessed robust growth over the years. Our used car business is growing at 140% year on year. We are aggressively expanding our network of CarDekho Gaadi Stores as we aim to launch about 150 stores by the end of this year. We will be hiring about 1,000 people for our B2B business in finance and insurance verticals,” Amit Jain, co-founder and CEO of CarDekho, said in a statement.

CarDekho, launched in 2008, offers an e-commerce portal for new and used cars, while also offering services to compare prices between cars, view/write reviews, insurance etc.

In January 2019, the Jaipur-based CarDekho raised $110 million from marquee investors like Sequoia India, Hillhouse, CapitalG (the growth investment arm of Alphabet) and Axis Bank. The funding took its valuation to $500 million.

CarDekho’s rival Cars24 has also been bullish about the growth of the used cars sector. Cars24 CEO Vikram Chopra had told Business Insider that the startup plans to breakeven by December 2019 and plans to be in 70 cities by the end of the year.

The Indian auto industry has seen a massive slowdown in the selling of new cars which has hit India’s top auto manufacturers but that hasn’t impacted the used cars businesses.

See Also:
Suzuki just lost nearly $1 billion because of what’s happening in India
EXCLUSIVE: Cars24, a startup selling used cars, wants outlets in 300 cities and is looking for potential franchisees
EXCLUSIVE: Cars24 is racing towards profitability as Indians choose used cars over new ones
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