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CARS24 was founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid and Ruchit Agarwal as a platform to buy and sell used cars. [5] In 2021, the company expanded its operations internationally in several countries, including the United Arab Emirates, Thailand and Australia.
The automotive industry in Hyderabad began in the 1930s. Manufacturing started with the establishment of Hyderabad Allwyn, which manufactured auto-components and assembled Albion CX9 buses for Hyderabad State Railways. It was a joint venture of Industrial Development Trust of the Nizam's Hyderabad Government and Allwyn & Company.
But after 1970, with restrictions on the import of vehicles set, the automotive industry started to grow; but the growth was mainly driven by tractors, commercial vehicles, and scooters. Cars still remained a major luxury item. In the 1970s, price controls were finally lifted, inserting a competitive element into the automobile market. [13]
They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25] Specialty finance companies cater to the used car dealer industry.
Passenger vehicles Bidadi: Toyota Kirloskar Motor Private Limited: Passenger vehicles Kolara [12] Scania Commercial Vehicles India Private Limited: Commercial vehicles Doddaballapura [9] TAFE Tractors: Commercial vehicles Dharwad [10] Tata Motors: Commercial vehicles Bangalore [13] Veera Vahana: Commercial vehicles Hoskote: Volvo Eicher ...
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
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