CARS24, a leading ecommerce platform for pre-owned vehicles, has announced Himanshu Ratnoo as the new Chief Executive Officer (CEO) for its Used Cars India division. In this role, Ratnoo will lead the company’s operations in the consumer-to-business (C2B) and retail sectors, focusing on driving growth and fostering innovation.
Himanshu Ratnoo’s Journey at CARS24
Himanshu Ratnoo has played a key role in shaping CARS24 success through several impactful initiatives. He has been instrumental in developing the franchise model, implementing effective lead monetisation strategies, and improving the processes for luxury car transactions. His leadership has been pivotal in streamlining operations and enhancing customer experiences.
Under Ratnoo’s guidance, CARS24 aims to strengthen its position as a market leader in the used car industry by introducing innovative solutions and expanding its reach across India.
Comprehensive Services Offered by CARS24
CARS24 provides a wide range of services that cater to the needs of vehicle owners. These include:
- Buying and Selling: A seamless platform for individuals to buy or sell pre-owned vehicles.
- Loans and Insurance: Financial support through vehicle loans and insurance services.
- FASTag and Driver-on-Demand: Convenient solutions for toll payments and driver services.
- Vehicle Scrapping: Eco-friendly options for scrapping old vehicles.
The company’s diverse offerings make it a one-stop solution for all vehicle-related needs, ensuring a hassle-free experience for customers.
Financial Growth and Key Investors
CARS24 has demonstrated remarkable resilience and growth despite not receiving external funding in the past three years. In December 2021, the company raised USD 450 million at a valuation of USD 3.3 billion. Its major investors include Alpha Wave, SoftBank, Tencent, and DST Global.
This financial stability has enabled CARS24 to continue investing in technology and expanding its services without compromising its vision of providing excellent customer service.
Looking Ahead: Scaling New Heights
With Himanshu Ratnoo at the helm of its Used Cars India division, CARS24 is set to achieve new milestones. The company plans to focus on scaling its operations, introducing innovative technologies, and enhancing customer satisfaction. CARS24’s commitment to excellence and innovation positions it as a leader in the pre-owned vehicle market, offering a reliable and comprehensive platform for buyers and sellers alike.
