Cars24 Surrenders to the Indonesian Market
Furthermore the company will focus their business in India, Thailand, United Arab Emirates and Australia
After launching in 2022 in Indonesia, Cars24 platforms that focus on buying and selling used cars from India reportedly closed their operations here. They will also close their services in Saudi Arabia.
Reporting from Deal Street Asia, Cars24 will officially close their services in Indonesia this weekend. Furthermore the company will focus their business in India, Thailand, United Arab Emirates and Australia. According to Dataword, in 2022 the company experienced operating losses in Indonesia of up to $ 248 million.
Founded by Vikram Chopra and Mehul Agrawal, Cars24 has been known as a platform that wants to present a new experience selling used cars in India. Apart from its core business of buying and selling used cars, Cars24 also offers a variety of related services. This includes financing, insurance, and repairs. Making them your one stop shop for all your car related needs.
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