Mumbai : Online auto classified platform CarTrade has acquired rival CarWale from leading European digital publisher Axel Springer for an undisclosed amount, reports PTI. This is seen as the largest consolidation in the segment, according to industry experts.
While CarTrade has a clear focus on used cars, CarWale’s primary strength in new vehicles. The two companies have over 3.2 crore combined visits in a month, work with about 9,000 new and used car dealer partners and connect car manufacturers with car buyers, a statement from CarTrade said. The platforms list more then 2.25 lakh used cars for sale.
