CarTrade Tech shares surge 12% in two days after launching new used-car platform

Shares of CarTrade Tech surged 9.67% to Rs 2,614.50 during Wednesday’s trading session, extending gains for a second straight day after the company unveiled CarTrade Used Auto, its ambitious new platform aimed at transforming India’s fragmented used-car market. The stock has gained nearly 12% over the last two trading sessions, reflecting strong investor enthusiasm for the initiative.

The launch marks a significant strategic move for CarTrade Tech, one of India’s largest digital automotive marketplaces. The company is bringing together the strengths of CarWale and OLX India to create a unified, technology-driven and asset-light ecosystem covering the entire used-car journey, from buying, selling and exchanging vehicles to financing and ownership transfer.

According to the company, CarTrade Used Auto will cater to all transaction formats, including B2C, C2B and C2C, while also offering financing solutions. The platform has introduced SuperDost, an AI-powered suite featuring services such as vehicle matchmaking, pricing assistance and condition assessment to simplify the customer experience.

India’s used-car market is entering a high-growth phase. Annual used-car transactions have already crossed approximately 5.9 million units and are projected to reach 9.5–10 million by 2030. With the average transaction value estimated at Rs 5–6 lakh per vehicle, the market currently represents a gross merchandise value (GMV) opportunity of over Rs 3 lakh crore, which could potentially expand to Rs 5–6 lakh crore by the end of the decade.

CarTrade Tech already attracts around 65 million monthly automotive users across its platforms and engages with nearly 3 million used-car sellers and 20 million buyers every year. The company aims for CarTrade Used Auto to facilitate nearly 2 million used-car transactions annually, translating into a potential transaction value of around Rs 1.2 lakh crore per year.

The company is also eyeing India’s rapidly expanding used-car financing segment. Through CarTrade Used Auto Finance, it plans to offer customers multiple loan options via partnerships with leading banks and NBFCs, while maintaining its asset-light business model.

Commenting on the launch, Aneesha Bhandary, Executive Director and CFO, said the used-car market remains fragmented across discovery, pricing, financing and ownership transfer. She added that the new platform aims to create a seamless transaction infrastructure by combining the reach of CarWale and OLX India with technology-led solutions.CarTrade Tech’s rally has been nothing short of remarkable. The stock has soared about 37% in the last one month and delivered an eye-catching 410% return over the past three years. The company currently commands a market capitalisation of approximately Rs 11,413 crore, while its 52-week high stands at Rs 3,290.

From a technical standpoint, momentum remains firmly positive. The stock is trading above all eight key simple moving averages (SMAs), indicating a strong bullish trend. However, caution may be warranted in the near term. The 14-day Relative Strength Index (RSI) is at 71.9, which places the stock in the overbought territory.

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