Cars24 transaction GMV hits ₹937 crore in August; loans up 70%
Loans disbursed rose 70% year-on-year to ₹415 crore, up 15.7% from July
- Sep 8, 2026,
- Updated Sep 8, 2026 5:47 PM IST
Used-car platform Cars24 recorded a 37% year-on-year increase in transaction gross merchandise value (GMV) to ₹937 crore in August, according to an internal company communication seen by Business Today.
The company's transaction GMV was up 11.1% month-on-month during the month.
The company also reported continued growth across its lending and revenue businesses. Loans disbursed rose 70% year-on-year to ₹415 crore, up 15.7% from July, while adjusted net revenue increased 46% year-on-year to ₹173 crore, a 16.4% month-on-month rise.
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Cars24 said its EBITDA remained positive at ₹0.7 crore in August. Total transactions crossed 5.4 lakh during the month, with peak days recording as many as one transaction per second.
India business sees strong growth
India remained a key growth driver for the company. Cars24 said inspections reached their highest level in August, rising 32% year-on-year, while overall GMV in the country grew 38% year-on-year. The company also noted that the share of its consumer business increased during the month.
The company’s international businesses also continued to expand.
In Australia, Cars24 said the business was growing at around 30%, with electric vehicles accounting for approximately 25% of the business.
In the UAE, the business remained profitable in August as the company continued to focus on scaling operations. Cars24 said it now has approximately 7% share of the used-car market in the UAE.
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Cars24 steps up AI push
The company also highlighted the growing role of artificial intelligence across its operations. Revenue per employee (FTE) increased 52.3% year-on-year, while AI-assisted code writing rose to 92%, with code review reaching 100%.
Cars24 said it created 128 micro-agents across the organisation in August, covering areas including problem-to-people mapping, agent deployment, memory management, and compliance.
The August performance comes as Cars24 continues to focus on scaling its core used-car business while expanding lending, international operations, and AI-led productivity initiatives.
Used-car platform Cars24 recorded a 37% year-on-year increase in transaction gross merchandise value (GMV) to ₹937 crore in August, according to an internal company communication seen by Business Today.
The company's transaction GMV was up 11.1% month-on-month during the month.
The company also reported continued growth across its lending and revenue businesses. Loans disbursed rose 70% year-on-year to ₹415 crore, up 15.7% from July, while adjusted net revenue increased 46% year-on-year to ₹173 crore, a 16.4% month-on-month rise.
Don't Miss: Which car sold the most in India in August 2026? The complete top 10 ranking reveals several close contests
Cars24 said its EBITDA remained positive at ₹0.7 crore in August. Total transactions crossed 5.4 lakh during the month, with peak days recording as many as one transaction per second.
India business sees strong growth
India remained a key growth driver for the company. Cars24 said inspections reached their highest level in August, rising 32% year-on-year, while overall GMV in the country grew 38% year-on-year. The company also noted that the share of its consumer business increased during the month.
The company’s international businesses also continued to expand.
In Australia, Cars24 said the business was growing at around 30%, with electric vehicles accounting for approximately 25% of the business.
In the UAE, the business remained profitable in August as the company continued to focus on scaling operations. Cars24 said it now has approximately 7% share of the used-car market in the UAE.
In Case You MIssed It: Maruti Baleno gets a big reset: new engine, CNG and 34 km mileage
Cars24 steps up AI push
The company also highlighted the growing role of artificial intelligence across its operations. Revenue per employee (FTE) increased 52.3% year-on-year, while AI-assisted code writing rose to 92%, with code review reaching 100%.
Cars24 said it created 128 micro-agents across the organisation in August, covering areas including problem-to-people mapping, agent deployment, memory management, and compliance.
The August performance comes as Cars24 continues to focus on scaling its core used-car business while expanding lending, international operations, and AI-led productivity initiatives.