Used Cars Demand Fuels Higher Sales for Cars24

Hyderabad, Telangana | 16 February 2026: Cars24, India’s leading auto-tech platform, is strengthening its presence in Telangana as one of its fastest-scaling consumer markets, driven by rising adoption of organised, digital-first car buying and ownership services. The state has emerged as a key growth engine for Cars24’s retail, financing, and vehicle ownership offerings as customers increasingly seek trust, transparency, and convenience in pre-owned car purchases.

During H1 FY26, nearly 10% of vehicles transacted on Cars24 originated from Telangana, with Hyderabad accounting for the bulk of overall state volumes. The market continues to see strong demand for trusted retail purchases, faster price discovery, and financing-led convenience—trends that are reshaping the used-car ecosystem in the region.

At a group level, Cars24 reported Adjusted Net Revenue of ₹651 crore in H1 FY26, up 18% year-on-year, while Adjusted EBITDA losses reduced by 36% YoY to ₹162 crore, reflecting a sustained focus on improving unit economics alongside customer experience. In the first six months of the year, nearly 85,000 cars were transacted across India, the UAE, and Australia, generating ₹3,731 crore in vehicle transaction GMV. Retail GMV crossed ₹2,000 crore, growing 21% YoY, and now contributes more than 50% of total vehicle transaction GMV, supported by expanded margins of 19.3%.

Hyderabad’s pre-owned car market remains largely petrol-led, with petrol vehicles accounting for 87.6% of total transactions, while diesel models contribute 11.6%, reflecting customer preference for lower ownership and maintenance costs. Among individual models, the Nexon emerged as the most preferred pre-owned car in Hyderabad, accounting for 4.1% of total sales, followed closely by the Baleno (3.97%) and the Swift (2.43%). Collectively, the top three models contribute over 10% of all pre-owned car transactions in the city.

Shivanshu Makkar, CFO India, Cars24, said, “Markets like Telangana highlight how quickly Indian consumers are embracing organised, digital-first car ownership. In H1 FY26, our focus was on building trust through better products, financing, and ownership services while continuing to strengthen our unit economics. This positions us well for the next phase of growth.”