Reiterating its rapid growth in the region, leading online platform for pre-owned vehicles, CARS24 has already rolled out close to 1500+ cars as per the international quality standards.
CARS24 employs a rigorous 150-point check for each car, reviewing the minutest details prior to its listing on the platform. The Mega Refurbishment Lab (MRL) in the UAE which the firm had set up earlier in January is now capable to roll out close to 20000+ cars in a year. The facility at Jebel Ali has 70 bays and 5 high-end Italian paint booths.
“Our company doesn’t leave any stone unturned to deliver the best version of the car to our end consumers. Right from the time we procure the car till the time it reaches our customers, our vehicles go through stringent quality and safety checks at our lab and each individual team is responsible for their share of quality control parameters. Our objective is to present the consumer with a car which is in as good as new condition. This is our commitment to our customers and we have invested heavily in this facility to ensure that when a car rolls out of our MRL it is 100% ready for the roads.”
CARS24’s Mega Refurbishment Lab (MRL) which operates on a 1,000,000 sq. ft leased facility with a total contract value in excess of $10.9 million is one of Dubai’s largest-ever leasing deals on record. Apart from its MRL in the UAE, CARS24 has 12 other major Mega Refurbishment Labs spread across the globe including markets such as India, Australia and Thailand.
“The refurbishment process is also standardized and optimized by CARS24 by using artificial intelligence, machine learning, and data science. By eliminating subjectivity, the refurbishment process becomes more efficient and effective. Furthermore, the cars on our platform undergo the stringent RTA test before they are listed online. All cars purchased from CARS24 come with a 7-day return policy and a 2-year warranty,” the CARS24 Gulf Region CEO added.
CARS24 enables the consumer to choose from close to 1500 cars on its eCommerce portal based on their budget. These cars range from sedans to SUVs to high-end luxury cars.
“On the other hand, in addition to our state-of-the-art MRL, we wanted to integrate our industry-specific AI-based APP to support the growing population of tech-savvy customers in the UAE. We are also taking efforts to educate all sections of the society to migrate and adopt the latest technology and be part of this new world of technology. Our APP has captured all the necessary parameters that the consumers look for whilst buying or selling their cars. Our team has meticulously planned and navigated the app to ensure its ease of use and most importantly help consumers make informed decisions fairly instantly. The entire history of the car is uploaded on the APP including the car’s detailed inspection report,” Mr. Gupta concluded.
In December 2021, the firm had raised $20.4 million (AED75 million) in local debt funding from the Commercial Bank of Dubai (CBD), one of the leading banks in the UAE. This debt facility strengthened CARS24’s commitment to the UAE market and provides significant funding flexibility and room to grow its inventory.
Late last year, CARS24 revealed that it would be investing another $100 million (AED 367 million) in the UAE and other GCC countries to further expand its presence.
With a company value of close to $3.3 billion, CARS24 is revolutionizing the way pre-owned cars are bought in the UAE. Since the launch of its operations in the UAE in May last year, CARS24 has sold close to 6000 plus cars and 100% of these transactions were conducted online.