Cars24 August GMV rises 37% YoY to ₹937 crore; loans jump 70%

Used-car platform Cars24 reported ₹937 crore in August transaction GMV, up 37% year-on-year and 11.1% month-on-month. Loans disbursed reached ₹415 crore, while adjusted net revenue rose 46% to ₹173 crore and EBITDA remained positive at ₹0.7 crore.

— Source publishedTue, 8 Sept, 2026, 17:47 IST·First seen Tue, 8 Sept, 2026, 18:12 IST·Source Business Today · Latest

What happened

Cars24 reported strong August growth in India, with transaction GMV reaching ₹937 crore and loans disbursed rising 70% year-on-year. The used-car platform

Key facts

  • August transaction GMV ₹937 crore, up 37% YoY and 11.1% MoM
  • Loans disbursed ₹415 crore, up 70% YoY and 15.7% MoM
  • Adjusted net revenue ₹173 crore, up 46% YoY and 16.4% MoM
  • EBITDA positive at ₹0.7 crore
  • Total transactions exceeded 5.4 lakh
  • India inspections up 32% YoY; India GMV up 38% YoY
  • Australia business growth about 30%; EVs about 25% of business
  • UAE used-car market share about 7%
  • Revenue per FTE up 52.3% YoY
  • AI-assisted code writing 92%; code review 100%
  • 128 micro-agents created

Why this matters

Cars24’s rapidly growing lending book and transaction volume make it a more compelling ecosystem partner or acquisition target in India’s used-car and auto-finance market.

What to watch

  • Whether adjusted net revenue continues to outgrow GMV, indicating improving monetization.
  • Monthly EBITDA trend and evidence that profitability remains positive after growth spending.
  • Loan penetration, approval rates, financing take rate and lender funding availability.
  • Delinquency, collection and repossession metrics on recent loan vintages.
  • Used-car pricing, inventory days and gross-margin movement during the festive-demand period.
  • Competitive pricing and financing actions from Spinny, CarDekho and organized dealer networks.
  • Expand financing penetration through lender partnerships and pre-approved loan offers.
  • Prioritize higher-margin revenue streams such as insurance, warranties, servicing and dealer services.
  • Use positive EBITDA evidence to selectively increase city-level inventory, inspection and refurbishment capacity.
  • Tighten credit underwriting and monitor loan-vintage performance as disbursals accelerate.