Himanshu Ratnoo, the CEO of Cars24’s used-car business in India, is resigning after nearly six years with the company. His departure will see Cars24 co-founder Vikram Chopra take direct oversight of the India used cars team.
The move, communicated internally via emails reviewed by Entrackr, comes as Ratnoo had recently taken on a high-profile role in the company’s public communication, leading a TV branding campaign during the T20 World Cup.
Ratnoo joined Cars24 in 2020 and later became CEO of the India used cars vertical in 2024, overseeing initiatives like Touch & Buy and CarTruth. In an email to staff, Ratnoo expressed the difficulty of his decision, highlighting his time at Cars24 as a privilege.
Chopra reassured employees of a seamless transition, emphasizing the company’s readiness for a new phase of growth. Cars24, founded in 2015, operates a digital used car marketplace expanding internationally.
The industry context reveals Cars24’s revenue declined in FY25, while Spinny, a competitor, reported strong growth during the same period. Ratnoo’s exit marks a significant leadership change in Cars24’s journey, potentially impacting the Indian used car tech sector.
Source: Entrackr : Latest Posts