CarTrade Tech to Acquire OLX India’s Auto Sales Business, Strengthening its Marketplace Dominance

CarTrade Tech, a prominent used car platform headquartered in Mumbai, has made a significant move by acquiring the auto sales business of OLX India for a substantial sum of Rs. 537 crore. The deal, set to be finalized within 21-30 days, is driven by CarTrade Tech’s objective of generating synergistic benefits and amplifying its already thriving operations. With a multi-channel auto platform encompassing renowned brands like CarWale, CarTrade, Shriram Automall, BikeWale, and more, CarTrade Tech stands as a comprehensive solution provider across the entire automotive transaction value chain. This strategic acquisition further cements CarTrade Tech’s position as a leading marketplace for automotive sales, harnessing the strength of its established brands, commitment to superior customer experience, and proprietary end-to-end technology platforms. The company’s profitable and scalable business model, coupled with its extensive range of services, including auction and remarketing, online advertising, lead generation, and inspection and valuation services, positions CarTrade Tech for continued growth and success in the ever-evolving automotive industry.