Sustainability in the Fast Lane: How CARS24 is Shaping a Cleaner Future

Let’s face it, sustainability is no longer a buzzword - it’s a necessity. And for us at CARS24, sustainability isn't just a strategy—it’s our purpose. As a leader in the used car segment, we know we have a unique opportunity to drive India towards a greener future by enabling the shift towards a circular economy.

What is a circular economy?

A circular economy is all about doing more with less. Unlike the traditional "take, make, waste" model, it emphasises reuse, refurbishment, and recycling to minimise waste and make the most of our resources. This approach is vital in reducing our dependence on finite resources and lowering our collective carbon footprint.

The automotive industry involves products that are ideal for reuse, remanufacture, and recycling. Carmakers are increasingly focusing on cleaner production processes and supply chains to reduce lifecycle carbon emissions of vehicles. Efforts include adopting circular economy principles such as material reuse, product lifecycle extension, and resource recycling, which are essential for producing zero-carbon cars. 

But this isn’t enough.

Beyond transactions: a purpose-driven approach

We’re not just selling cars; we’re making a statement. Producing a single new car can emit between 6 to 20 metric tons of CO₂, depending on the model and materials used. By choosing to purchase a used car you can effectively save these emissions. It’s simple: fewer new cars mean fewer resources consumed and less energy expended. 

And it doesn’t stop there. Through our scrap car service, we can ensure end-of-life vehicles are disposed of responsibly, aligning with environmental regulations to minimise harm.

Data-Driven Impact:

• CO₂ Emissions Reduction: In 2023 alone, CARS24 helped save approximately 2.5 million metric tons of CO₂ by enabling the sale of around 200,000 used cars across body types. 

• Market Shift: The Indian used car market is projected to grow from 3.8 million units in 2022 to over 8 million units by 2026, outpacing the new car market growth by more than double. By 2026, the volume of used cars sold is expected to be twice that of new cars, reflecting a significant consumer shift towards sustainability.

A collective effort for a sustainable future

Our commitment to sustainability is reinforced by our actions.  Here’s how we are driving the change.  

• Partnerships with Government: We have collaborated with over 10 government-approved scrapping facilities to promote the responsible disposal of old vehicles. This not only reduces environmental harm but also aligns with India’s goal to scrap the old, unfit vehicles causing pollution, by 2025. 
• Policy Advocacy: CARS24 is actively working with the Ministry of Road Transport and Highways (MoRTH) to enhance the adoption of the vehicle scrap policy across India, aiming to scrap over 5 million vehicles by 2025.

Looking Forward:

Transitioning to a circular economy is a shared responsibility—one that requires businesses, consumers, and governments to work together. At CARS24, we’re committed to leading this transformation. Our customers are not just making smart financial decisions by choosing used cars; they are also making a powerful choice for the planet.

• Scaling Impact: With our robust infrastructure and strategic partnerships, CARS24 aims to triple its impact by 2028, targeting a reduction of over 10 million metric tons of CO₂ through the sale of used cars and the responsible scrapping of end-of-life vehicles.
• Empowering Consumers: We continue to educate and empower our customers to make sustainable choices that benefit both their wallets and the world. Every car bought and sold through CARS24 is a step towards a greener future.