CarTrade Tech Celebrates Strong Festive Season Performance in October 2024

MUMBAI, India, Nov. 5, 2024 /PRNewswire/ -- CarTrade Tech Limited, a leading automotive platform, announced an outstanding performance during the Diwali-Dussehra festive period from its Consumer Group (CarWale and BikeWale), achieving an all-time highs in October 2024.

Reflecting on this success, the consumer group expects to report an impressive 30% year-over-year (YoY) revenue growth for the third quarter. Monthly unique customers in October 2024 for the Consumer Group platforms surged by 36% YoY, marking a substantial increase in consumer engagement and traffic.

Banwari Lal Sharma, CEO of Consumer Group said, "This festive season has been excellent for CarWale and BikeWale. Our platforms have seen unprecedented consumer interest, resulting in record revenues and traffic growth. This performance is a testament to our dedication and commitment of delivering value to consumers and partners alike. We are excited about our growth trajectory and remain focused on further enhancing our offerings to meet the evolving needs of the automotive market."

CarTrade Tech continues to be a significant player in India's automotive ecosystem, and this success during the festive season underscores its role as a go-to destination for automotive consumers and sellers.

About CarTrade Tech Limited: (www.cartradetech.com) (NSE: CARTRADE) (BSE:543333)

CarTrade Tech Limited is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform got ~77 million average monthly unique visitors in Q2 FY25 and based on Q2 FY25 annualized numbers has 1.4 Mn listings for auction. The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner.

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CIN: L74900MH2000PLC126237

Email: investor@cartrade.com I T: +912267398888

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Akansha Chandra | akansha.chandra@communicateindia.com | 8373905252

Harsha Mazumdar | harsha.mazumdar@communicateindia.com | 7357116665

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