CarTrade Tech , a leading digital ecosystem for automobiles in India, has reported a significant increase in traffic on its consumer platforms during the Navratri festival. The company's popular platforms, CarWale and BikeWale, experienced a collective 66% year-on-year growth in traffic, highlighting the strong festive demand and the positive impact of recent GST rate reductions in the automobile sector.

Key Highlights

• CarWale and BikeWale platforms saw a 66% year-on-year increase in traffic during Navratri
• The growth is attributed to festive season demand and recent GST rate reductions
• The surge in traffic indicates heightened consumer engagement and enthusiasm in the automobile sector

Festive Momentum and GST Impact

The substantial traffic growth on CarTrade Tech's platforms during the Navratri festival underscores the continued momentum of festive demand in the automobile sector. Additionally, the recent GST rate reduction appears to have played a significant role in boosting consumer interest and engagement.

Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech, commented on the development, stating, "The festive season continues to build momentum, and this Navratri has once again shown the trust millions of consumers place in CarWale and BikeWale as their preferred destinations for research and decision-making. We are truly grateful to our users for their continued confidence in our platforms."

Consumer Sentiment and Market Implications

The surge in traffic on CarWale and BikeWale platforms during the festive season suggests a positive shift in consumer sentiment towards automobile purchases. This increased engagement could potentially translate into higher sales for the auto industry, benefiting both manufacturers and digital platforms like CarTrade Tech.

As the festive season progresses, CarTrade Tech is well-positioned to capitalize on the growing consumer interest in vehicle research and purchases. The company's role in simplifying the vehicle buying journey for Indian consumers could further strengthen its market position in the digital automobile ecosystem.

Conclusion

The 66% year-on-year traffic growth on CarTrade Tech's consumer platforms during Navratri is a positive indicator for both the company and the broader automobile sector. As festive enthusiasm continues to drive consumer sentiment, CarTrade Tech's CarWale and BikeWale platforms are playing a crucial role in facilitating informed decision-making for potential vehicle buyers across India.

CarTrade Tech , a leading digital ecosystem for automobiles in India, has reported an unprecedented surge in traffic on its CarWale and BikeWale platforms during the first day of Navratri. The company's consumer platforms experienced their highest ever single-day traffic, marking a significant milestone in the automotive digital space.

Record-Breaking Traffic Surge

The platforms witnessed a remarkable 74% increase in traffic compared to the first day of Navratri last year. This surge also represents a 60% rise over the daily average traffic recorded in August, highlighting the exceptional nature of this achievement.

Factors Driving the Surge

Several key factors have contributed to this extraordinary traffic increase:

1. Festive Season Demand: The onset of Navratri, a major festival in India, has traditionally been associated with increased consumer interest in vehicle purchases.

2. GST Rate Cut: A recent reduction in the Goods and Services Tax (GST) rates for automobiles has played a crucial role in boosting consumer sentiment. This tax cut has improved the affordability of vehicles, making it an opportune time for potential buyers to make their purchases.

3. Improved Consumer Sentiment: The combination of festive season excitement and increased affordability due to the GST cut has significantly lifted consumer sentiment in the automobile sector.

Management's Perspective

Banwari Lal Sharma, CEO of the Consumer Group at CarTrade Tech, expressed his enthusiasm about this achievement, stating, "Yesterday was a landmark day for our platforms. The festive excitement, amplified by GST-led affordability, has fueled unprecedented consumer activity. This milestone underscores the trust that millions of Indians place in CarWale and BikeWale when researching and purchasing vehicles."

Implications for the Automotive Industry

This surge in traffic on CarWale and BikeWale platforms is indicative of a potential uptick in the automotive market. It suggests that consumers are actively researching and considering vehicle purchases, which could translate into increased sales for the industry in the coming weeks.

About CarTrade Tech Limited

CarTrade Tech Limited operates leading digital platforms in the automotive space, including CarWale, BikeWale, CarTrade, Shriram Automall, and CarTrade Exchange. These platforms cater to various aspects of the automotive ecosystem, from vehicle discovery and research to buying, selling, and financing of new and used vehicles.

As the festive season progresses, it will be interesting to see how this increased consumer interest translates into actual vehicle sales and what it means for the broader automotive industry in India.