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CARS24, one of the largest car buying company, has opened its first Kerala outlet in Kochi as part of the expansion plans to have 1000 branches in 100 cities by 2020.
Gajendra Jangid, co-founder and Vice President, CARS24 said that there are also plans to open four more outlets in Kerala in Thiruvananthapuram, Thrissur and Kozhikode shortly.
The company plans to open 300 branches in 50 cities by the end of this year across the country, he added.
The business of pre-owned cars is about 1.4 times the business of new cars in terms of volume, whereas the average ownership of cars in Kochi has also fallen from seven years to 3.5 years. This shows the huge opportunity that is in store for the company in terms of immense growth in the number of cars being sold and bought futuristically, he said.
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