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Dubai, UAE: CARS24, the leading online platform for pre-owned vehicles, has unveiled its latest AI-enabled APP in the UAE that features close to 1200 plus vehicles. Through this APP consumers in the UAE can buy and sell cars in under 30 minutes if all the related documents are in place. Since the launch of its operations in the UAE in May 2021, CARS24 has sold close to 4000 plus cars and 100% of these transactions were conducted online.
“UAE is known for its wide adoption of technology across both the public and private sectors. We are delighted to work in this thriving tech ecosystem and we are inspired by this giant tech leap that the country has taken - be it Blockchain or AI. By the same token, we wanted to integrate our industry-specific AI-based APP to support the growing population of tech-savvy customers in the UAE. We are also taking efforts to educate all sections of the society to migrate and adopt the latest technology and be part of this new world of tech,” stated Abhinav Gupta, CEO, Gulf Region for CARS24.
“Our APP has captured in all the necessary parameters that the consumers look for whilst buying or selling their cars. Our team has meticulously planned and navigated the app to ensure its ease of use and most importantly help consumers make informed decisions fairly instantly. The entire history of the car is uploaded on the APP including the car’s detailed inspection report,” added Abhinav.
With the help of the APP, the consumers can calculate their monthly EMI, check for the all the parameters such as the quality checks that include engine, suspension, steering, tyres as part of the 150 points inspection check. Furthermore, the consumers can also avail the car financing options, insurance, and several other features through this APP.
Complementing the APP is the company's newly opened mega refurbishment lab (MRL) in UAE which would roll out close to 20000+ cars in a year. This MRL at Jebel Ali has 70 bays, 5 high-end Italian paint booths, and has the capacity to roll out close to 1500 cars a month. This leased 1,000,000 sq.ft facility with a total contract value in excess of AED 40 million, is one of Dubai’s largest-ever leasing deals on record.
“Through our Mega Refurbishment Lab in UAE, our endeavor would be to ensure that all our customers get a completely certified car by us. We have stringent quality checks in place and we ensure that our cars go through various stages of tests before it reaches the end customer. CARS24 also leverages AI, machine learning, and data science to standardize and optimize the refurbishment process. This will make the entire process efficient and effective while eliminating subjectivity,” added Abhinav.
With a company value of close to US$3.3 billion, CARS24 is revolutionizing the way pre-owned cars are bought in the UAE. Through its next-generation AI-enabled APP and its e-commerce platform and its new MRL, the company aims to continue its expansion plans in the region.
Late last year, CARS24 raised AED75 million in local debt funding from the Commercial Bank of Dubai (CBD), one of the leading banks in the UAE. In September 2021, CARS24 announced that it would be investing another AED 367 million in the UAE and other GCC countries to further expand its presence.
“With this convergence of technology-driven cutting-edge facilities, CARS24 is transforming the pre-owned cars industry not only in the UAE but several other countries globally and thereby bridging the standardisation and benchmarking gap prevalent in the industry,” concluded Abhinav.
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ABOUT CARS24:
Founded in 2015, CARS24 is the leading global e-commerce platform for pre-owned vehicles with a robust presence in India, the Middle East, Australia and Southeast Asia. With a consumer first approach, CARS24’s mission is to transform the used car industry by taking the entire journey of searching, buying, selling, and financing online. Leveraging the latest technology advances, CARS24 has set up multiple state-of-the-art Mega Refurbishment Labs; creating new industry benchmarks for high quality used cars.
For regular updates on CARS24, follow us on: https://www.linkedin.com/company/cars24
For further information, please contact:
Prem Ramachandran
White Water Public Relations
prem@whitewaterpr.com
Dubai, UAE
© Press Release 2022
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