Ever since CARS24 has entered the list of unicorn startups from India, it has got people thinking; businessmen, investors, auto-enthusiasts, and others (like me), as to what is CARS24 business model?
In my quest to get answers, I stumbled upon this intriguing statement about CARS24 from Mr. Anil Joshi (Founder, Unicorn India Ventures)
What Domino’s did to pizza in terms of delivery, CARS24 did to cars
Here is my 5-point analogy between Domino’s and CARS24 as an answer to the question- What is the CARS24 business model?
CARS24 the Domino’s in the world of Pre-owned Cars
More than what meets the eye- They are both tech-based companies
Domino’s is not just into pizza-making, they are also into pizza-delivery. They rely on AI and analytics to operate the ordering process. From suggesting the right kind of pizza to customizing and delivery, everything is powered by digital technology.
Similarly, CARS24 is not just a regular used car dealer, they are also organized buyers, and sellers of used cars. They make use of AI to assess and buy/sell thousands of used cars across thousands of models.
Bold Marketing Pitch
Perhaps the closest thing CARS24 and Domino’s have in common is that they both launched legendary ad campaigns that are very bold.
At Domino’s, they claim to deliver your pizza within 30 minutes and CARS24 claims to buy/sell pre‑owned cars within an hour (both are subjected to conditions of course, but it is still possible).
Domino’s changed (and continues to change) the art of ordering a Pizza. From calling the store to order a pizza and wondering where’s my pizza? to tweeting for a pizza and keeping track of it from the oven to your doorstep. Domino’s has automated almost everything in pizza delivery.
Similarly, CARS24 changed the way we sell a used car. From listing the car on countless websites and answering a hundred phone calls to sell it, to selling the car in just 3 easy steps. CARS24 has streamlined the process. It ensures you sell the car in the quickest possible way and for the best price possible.
The statement made by Mr. Anil Joshi could imply the fact that just like you can select your favorite pizza online and get it delivered to your home with Domino’s. You can also purchase a pre‑owned automobile (cars and bikes) completely online and get it delivered to your home with CARS24.
Domino’s is always on the search for more ways to deliver pizzas fast, fresh, and hot to your doorstep. From delivery cars with built-in ovens to self-driving cars (also with built-in ovens), they are innovating the way the world eats the classic-Italian savory.
CARS24 is also not far behind on their list of innovations. They have developed a unique bidding system where registered buyers can bid to buy a used car from across the country. With CARS24 you can buy or sell cars from anywhere in India. Since the COVID-19, they have made provisions to sell or buy a car from the safety of your home. They also offer to handle the complete paperwork. CARS24 has set-up the biggest pre-owned bike showroom in India.