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Why used cars companies are having a moment
Jun 18, 03:06

The transportation space hasn't been lying idle during the pandemic. Used car startups are all the rage. Spinny, Cars24 and CarDekho, the three largest players, are all raising funds at double their previous valuations. What gives? For one, the pandemic has made a lot of commuters realise that owning a second-hand vehicle may be better than the challenges of public transport and cabs. Many even say a second hand car is cheaper than a couple of years of using Ola or Uber. Further, even at billion dollar valuations, these companies are growing relatively fast. Unlike ecommerce or payments, there is no clear winner yet, and the market is big enough for 2-3 tech-based players to build large businesses.

Valuations of used car internet startups