Bengaluru, April , 2019.
Gaadi by CarDekho, a retail auction model for pre-owned cars,has announced its foray in southern India with launch of twelve stores in Bengaluru. Better known as the silicon valley of India, Bengaluru is a magnet for the millennials as well as the urban population, creating the perfect opportunity for Gaadi to expand its market.
The brand has already witnessed phenomenal success within its first quarter with sale of over 900cars across the 15stores in Delhi – NCR. The brand is steadily building its trust with the audience as a dependable, hassle-free medium to sell their cars. The intend of the team is to scale the entire country with nearly 200 stores in markets including Delhi NCR, Bengaluru, Mumbai etc. The USP of Gaadi is to provide effortless vehicle selling experience to the customers with optimum resale value for their cars along with Free RC transfer, Loan closure assistance, Instant money transfer, and scientific car inspection at their outlets.
According to a research by McKinsey, there is continued growth in the used-car segment with India projected to be the 3rd largest market for used-cars by 2021. To add on to it, escalating concerns about the life term of cars, a paradigm shift in emissions and safety norms has also influenced consumers to waver from purchasing new cars. Cementing this trend, industry organization, SIAM (Society of Indian Automobile Manufacturers), states that market growth is anticipated to be driven by rising penetration of online platforms such as Gaadi, that enables used car dealers to boost their reach to a larger audience and considering that on an average there are 7,000-8,000 cars being sold each month in Bangalore makes it the perfect market to tap.
Commenting on the move, Vibhor Sahare, CEO, and Co-founder at Gaadi mentioned, “It gives me immense pleasure to venture into a new market. This step is indicative of our growth and we are confident that the stores in Bengaluru will witness incredible success and encourage expansion to other cities. Bengaluru has the ideal combination of perfect target audience and market opportunity for us and we expect great customer response from the city”.