Used Car Portal
India's top used-car startups line up for IPOs worth over $1 billion
Three Unicorn startups - CARS24 Services Pvt., CarDekho and Spinny - that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite
 "India's top used-car startups line up for IPOs worth over $1 billion")
Spinny cuts used car prices ahead of GST change, up to ₹2 lakh off
Spinny has reduced used car prices ahead of GST reforms from September 22, offering buyers up to Rs 2 lakh savings and sellers up to Rs 20,000 higher resale benefit
 "Spinny cuts used car prices ahead of GST change, up to ₹2 lakh off")
Trust deficit drives first-time car buyers to new models, says new study
Most first-time car buyers last year preferred new over used cars, citing mistrust in the used market. Many feel used car prices are inflated, sometimes matching or exceeding new car costs
 "Trust deficit drives first-time car buyers to new models, says new study")
Online used-car marketplace Shift Technologies lays off 30% of workforce
US-based online marketplace for buying and selling used cars Shift Technologies has reduced its workforce by 30 per cent
 "Online used-car marketplace Shift Technologies lays off 30% of workforce")
Love that snazzy SUV? Buy a pre-owned one if a new vehicle is out of reach
Just make sure it's in good shape, the papers are in order and the price you're paying doesn't pinch in the long run
 "Love that snazzy SUV? Buy a pre-owned one if a new vehicle is out of reach")
Indian used-car platform Spinny valued at $1.8 billion in new funding round
India's Spinny said on Tuesday it had raised $283 million in a funding round led by Abu Dhabi-based ADQ and Tiger Global, giving the used-car retailing platform a valuation of about $1.8 billion
 "Indian used-car platform Spinny valued at $1.8 billion in new funding round")
Online used car aggregators see brisk business as demand outstrips supply
Olx says demand is 112 per cent of pre-Covid phase; Firms confident of demand sustenance beyond festivals
 "Online used car aggregators see brisk business as demand outstrips supply")
Mahindra First Choice embarks on expansion, plans to add 30 outlets soon
Company's June volumes to reach 80% of pre-Covid levels, firm plans to have 1,250 dealers by FY21-end as it eyes overall sales of 200,000 units by FY21
 "Mahindra First Choice embarks on expansion, plans to add 30 outlets soon")
Used auto startup Cars24 develops vehicle matching app for dealers
Start-up looking to expand tool to chat box, payment option
 "Used auto startup Cars24 develops vehicle matching app for dealers")
Shriram Automall buys car selling portal BlueJack to strengthen offline biz
BlueJack is expected to fully integrate with SAMIL's operations and group companies in first half of 2020
 "Shriram Automall buys car selling portal BlueJack to strengthen offline biz")
Prosus-owned OLX invests $400 million in FCG's used car business
In India, OLX and FCG have a joint venture that operates OLX CashMyCar stores across almost 17 cities
 "Prosus-owned OLX invests $400 million in FCG's used car business")
Used car portals innovate to fill trust gap
Convincing customers remains the biggest challenge for online firms, as service tends to be hyperlocal barring in big cities
 "Used car portals innovate to fill trust gap")
