Cars24, a digital marketplace for used vehicles, is undergoing a leadership change in its India used cars vertical. Himanshu Ratnoo, who led the business for nearly six years, is stepping down from his role as CEO. Cars24 co-founder and Group CEO Vikram Chopra will now directly oversee the India used cars leadership team.
Ratnoo joined Cars24 in 2020 and took over as the CEO of the India used cars vertical in 2024. During his tenure, he contributed to initiatives like Touch & Buy and the franchise model. In an internal email, Ratnoo expressed gratitude for his time at the company, calling it a privilege to lead talented colleagues.
Chopra, in response, assured employees that the India used cars team will collaborate closely with him as Cars24 enters a new growth phase. Founded in 2015, Cars24 has expanded globally, operating in markets like Australia, the UAE, and the US.
Financially, Cars24 reported Rs 6,233 crore in gross revenue with a Rs 543 crore loss in FY25. In H1 FY26, the company’s adjusted net revenue was Rs 651 crore, with expectations to surpass Rs 750 crore in the second half of the fiscal year.
Source: Entrackr : Latest Posts