Mumbai, Jan 17: CARS24, India’s leading auto-tech platform, today announced its financial results for the first half of FY26, delivering strong operating momentum, improving unit economics, and continued progress in its transformation from a buy-sell marketplace into a full-stack vehicle ownership platform.
During H1 FY26, Adjusted Net Revenue increased 18% year-on-year to INR 651 crore, while Adjusted EBITDA burn reduced by 36% YoY to ₹(162) crore, reflecting greater operating efficiency and disciplined cost management.
CARS24 maintained its position as the largest online used-car platform across India, UAE, and Australia. During the period, approximately 85,000 cars were transacted across the three markets, with Vehicle Transaction GMV of ₹3,731 crore.
Financing emerged as a key growth driver, with loans disbursed rising ~38% YoY to ₹1,637 crore globally. The company continues to scale non-captive financing offerings, including dealer consumer financing and refinancing, beyond traditional captive attach rates on retail car transactions, establishing financing as a meaningful and sustainable growth pillar.
Vehicle Ownership Services witnessed strong traction as CARS24 expanded into an end-to-end ownership ecosystem over the past 18 months. Offerings now include Insurance, Challan Payments, CarTruth (pre-delivery inspections and vehicle history reports), Buyback, and Chauferly. This segment generated ₹94 crore in GMV during H1 FY26, with transactions increasing 19x on the platform. The acquisition of CarInfo further strengthens the company’s focus on this high-margin, recurring-revenue segment, reinforcing its brand promise of “Better drives, better lives” by building long-term relationships with vehicle owners.
At its core, CARS24 remains technology-first, delivering a seamless experience to over 11 million monthly users across its platforms.
Looking ahead, the company expects H2 FY26 Adjusted Net Revenue to exceed ₹750 crore, representing approximately 35% YoY growth, with acceleration anticipated in Transaction GMV. CARS24 is also preparing for a potential IPO in the next 6–12 months, subject to market conditions and regulatory approvals.