Gurugram: After years of helping Indians buy, sell, finance, insure, inspect, and occasionally emotionally overthink their cars, Cars24 has finally driven into a milestone every startup dreams of — profitability. And no, this time it’s not just “adjusted for vibes.”
India’s leading AI-native autotech platform announced its first profitable quarter in Q4 FY26, reporting an Adjusted EBITDA of ₹20 crore. The achievement marks a significant turning point for the company, which has evolved from being a simple used-car transaction platform into what it now describes as a full-fledged automotive ownership ecosystem.
The company’s numbers suggest this transformation is gaining traction. During H2 FY26, Cars24 recorded ₹760 crore in Adjusted Net Revenue, reflecting a robust 37% year-on-year growth, while losses narrowed sharply by 83%. That’s the kind of financial U-turn that even a driving instructor would approve of.
Cars24 Wants to Stay With You Beyond the Test Drive
Cars24 says the modern car buyer is no longer looking at just the purchase price. The real concern begins after the keys are handed over — insurance renewals, FASTag headaches, service schedules, loan paperwork, RC transfers, resale value, and the eternal fear of “bhaiya, accidental toh nahi hai?”
The company believes that solving this ownership journey, rather than just enabling transactions, is where the real long-term opportunity lies.
Today, more than 3.8 crore users engage with Cars24 platforms every month, with nearly one in ten vehicle owners in India interacting with the ecosystem for services like vehicle history checks, insurance renewals, financing, and compliance-related solutions.
And in typical startup philosophy fashion, Cars24 argues that while competitors can copy features, replicating years of customer trust and repeated engagement is far more difficult. In simpler automotive terms: anyone can install alloy wheels, but building the entire engine takes time.
Retail, Loans and Services All Accelerate Together
Cars24’s core businesses showed strong momentum across the board.
Retail GMV grew 35% year-on-year and now contributes more than 60% of the platform’s total transaction value. Meanwhile, loans disbursed through the platform surged 57% YoY to ₹1,789 crore, indicating deeper integration of financing solutions into the car-buying process.
Perhaps the most eye-catching growth came from vehicle ownership services, which expanded an astonishing 11 times year-on-year. This category has emerged as a high-frequency engagement layer for the company, helping it remain connected with customers long after the vehicle purchase is completed.
The company’s international operations also contributed positively. The UAE business delivered positive EBITDA margins, while Australia achieved operating profitability during Q4 FY26.
AI Is No Longer a Buzzword Here — It’s Running the Garage
Cars24 credits much of its operating leverage to its AI-native model, where processes such as pricing, inspections, customer support, and risk assessment are increasingly automated and AI-led by default.
The result? Revenue per employee increased by 50% during H2 FY26, while operational efficiency improved without proportionate increases in costs.
The company now says AI is no longer just a feature inside the business — it is becoming the operating backbone itself. Cars24 is already targeting a further 3x improvement in productivity as the AI-led model deepens across functions.
Vikram Chopra: “The Business Changes When You Stay Close to the Customer”
Speaking about the milestone, Cars24 builder Vikram Chopra said profitability was not an accident, but the outcome of becoming increasingly useful to customers over time.
According to Chopra, the company’s vision goes beyond the initial car purchase and extends across the entire ownership lifecycle — including insurance, financing, FASTag management, compliance, documents, resale, and other recurring ownership needs.
He added that each small interaction gradually builds familiarity and trust, ultimately reshaping the economics of the business.
In essence, Cars24 doesn’t just want to sell you a car anymore. It wants to stay in your life longer than your car loan tenure.
Targeting India’s Next Generation of Car Owners
Cars24 also highlighted its role in enabling access to mobility for first-time buyers. According to the company, three out of four retail customers on the platform are first-time car buyers.
By integrating financing, inspections, trust layers, and ownership services, the platform aims to make car ownership more accessible for consumers who were traditionally excluded from the organized used-car market.
What Lies Ahead
With profitability now achieved, Cars24 says the focus will shift toward strengthening its ownership ecosystem, scaling international markets, and building a unified platform for every stage of vehicle ownership.
The company’s next chapter appears centered around AI-led scale, deeper customer engagement, and expanding the automotive ecosystem beyond just buying and selling cars.
Because in 2026, apparently even your car marketplace now wants to become your long-term relationship partner.
