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CarDekho Acquires Philippines Based Car Classified Site Carmudi

CarDekho and Carmudi are coming together for enhancement in technology, processes and platform for improving user experience

India: CarDekho, which is one the leading auto portal for the purchase of new and used vehicle market, announced plans to acquire Carmudi, an online car classifieds website in Philippines. CarDekho is owned by Girnar Software Pvt. Ltd. and the company has raised $185 million as of 2019 from investors such as Sequoia Capital India, HDFC Bank, Hillhouse Capital, Dentsu Inc., among others. Girnar Software also operates several other successful online auto platforms including,, and

President and co-founder of CarDekho stated that, “The company is excited to expand their international footprint and invest in the new region. Philippines underlying macro fundamentals make it an extremely promising market. The market demand for new PVs in the Philippines has grown at a CAGR of 14 % during 2014-2018 with new car sales crossing 3,80,000 units in 2018. We see this growth as a big opportunity to digitize the Philippines auto ecosystem and engage with consumers throughout their online car buying journey. Our strong ecosystem play has made us a leader in India and Indonesia. And now we are expecting the same for the Philippines.”

According to TechSci Research, automotive industry in Philippines is recovering from slowdown and online car sellers which occupy a small share of the market witnessed relatively higher growth over the past few years. Acquisition of the Carmudi by CarDekho will help the latter to expand its presence in South East Asia. Carmudi has a well-established presence in the country and is known for its powerful search tool and quality listings. CarDekho will not only digitalize but also simplify the entire auto ecosystem, consequently, driving the new as well as used vehicle sales in the country.

According to a report published by TechSci Research, India Used Car Market By Vehicle Type (Small, Mid-Size & Luxury), By Sector (Organized Vs. Semi-Organized/Unorganized), By Sales Channel (Dealership/Broker Vs. C2C), By Fuel Type (Petrol & Others), Competition Forecast & Opportunities, 2012 – 2022”, India used car market is projected to reach over $ 66 billion by 2022, on the back of growing population and rising urbanization in the country. Increasing focus of automakers towards setting up used car networks in different parts of the country and growing inclination of consumers towards used cars owing to their affordability and improved after sales services are some of the other major factors expected to boost demand for used cars in India in the coming years. Moreover, market growth is anticipated to be driven by rising penetration of online platforms such as OLX, Quikr, etc., that enable used car dealers to boost their reach to a larger audience.

According to another TechSci Research report, South East Asia Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler, Three-Wheeler and OTR), By Demand Category (OEM Vs Replacement), By Radial vs. Bias, By Rim Size, By Tire Type, By Country, Competition, Forecast & Opportunities, 2014-2024”, South East Asia tire market was valued at around $ 11 billion in 2018 and is projected to surpass $ 17 billion by 2024. Anticipated growth in the market is led by rising sales of two-wheelers and passenger cars as well as expanding overall vehicle fleet across all the major countries in the region. Moreover, rising disposable income is boosting demand for premium vehicles across various countries of South East Asian region, thereby further fueling growth in the region’s tire market.

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