CarDekho Gaadi opens five stores in Hyderabad

CarDekho Gaadi store, a retail auction model for pre-owned cars, has opened five stores in Hyderabad.

The opening of these stores is a part of an ambitious move by CarDekho to establish 200 Gaadi stores across India by 2020 up from 43 stores it has set up in Delhi-NCR, Bangalore, Jaipur, Pune, Lucknow and Ahmedabad.

With the new stores, CarDekho Gaadi Store aims to provide a one stop shop destination for providing a hassle-free vehicle selling experience to its customers while offering optimum resale value for their cars. The stores will also helps customers with RC transfer, loan closure assistance, instant money transfer, and methodical inspection of cars.

Akansh Sinha, co-founder Gaadi.com said, “Cardekho Gaadi store has been instrumental in instilling a sense of trust in sellers, previously intermittent, due to both good and bad experiences that they had in the open market. The growth in the past 6 months has reposed our belief that we are moving in the right direction, and helps us continue marching toward becoming the biggest used car company in the country”.

According to a study by McKinsey & Company, the used-cars segment will continue to grow in India and has already become Asia's third-largest car market.

CarDekho has raised funding from marquee investors which includes Sequoia India, Hillhouse Capital, CapitalG (formerly known as Google Capital), Tybourne Capital, HDFC Bank, Axis Bank, Times Internet, Ratan Tata, and Trifecta.