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With the launch of its 100th Branch in Kolkata, CARS24 Set to Strengthen its Foothold in India’s used car market

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Based on its extraordinary growth trajectory, CARS24 targets a run rate 1000 branches in 100 cities by 2020.

Kolkata, Monday, 3rd December, 2018: Selling your car is a very tedious process but CARS24, India’s fastest growing tech-enabled used car company has changed the way people sell their cars owing to their100 branches in 18 cities in India. Hence, with plans to assure a more simplified experience to discerning customers across the length and breadth of the country and to strengthen their foothold in the growing used-car market, CARS24 has launched its 100thbranch in Kolkata. The new store launch is not only its official launch in the East regionbut is also a part of CARS24’s vision to expand its market presence across different market tiers, by opening 110 branches before the end of this financial year.

Talking about the business potential, Gajendra Jangid, co-founder & VP, CARS24 said,The exponential growth of the used car industry is evident in both Tier 1 and Tier 2 cities today.This is why we aggressively wanted to expand our geographic reach, while scaling up our branches across the country. It is a matter of great delight that we have been successful in keeping our word of opening 100 new stores before the closing of this fiscal.

East India has always been a key market for us and in recent years, and Kolkata has emerged as an important city there. We are already at a double digit market share in existing markets including Delhi, Mumbai and Bangalore and plan to spread beyond these states. We have studied the trends in this market in the region and foresee a business growth of 150% during the coming financial year. Our dealership is strategically located in the well-connected area which has the potential to serve not only the city of Kolkata but also its suburbs and neighboring cities.”

Employing 1800 people across India, CARS24 has grown rapidly to making it a leading player in the used car sector. Over 10,000 trusted business partners from more than 100 cities across India are already participating in the proprietary online auctions. By the end of 2018, car owners will be able to sell their cars across 110 CARS24 branches in 18 cities. Based on its extraordinary growth trajectory, CARS24 targets a run rate of 1000 branches in 100 cities by 2020.

About CARS24

Founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid and Ruchit Agarwal, CARS24 has pioneered an innovative solution to the age-old problem of selling a car. CARS24 enables car owners to sell their cars within two hours of a single visit to one of the many CARS24 branches, with instant payment into their bank accounts. The company, in-turn, sells these cars online through its proprietary auction platform to businesses across India dealing in pre-owned cars. This makes CARS24’s business a unique C2B model, focused on ‘supply first’, and in principal a very different approach to winning the used car market, as compared to the C2C and B2C business models that exist in the used car industry today.

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UserTesting Highlights How Inflation Is Squeezing Indian Consumers, 75 Percent Join The Gig Economy To Meet Increased Cost Of Living

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Inflation Is Squeezing Indian Consumers
  • On an average, 3 out of 5 Indians are witnessing the highest impact of inflation on entertainment and petrol expenditures
  • In order to save money, 65 percent of Indians are now buying their necessary products from generic brands
  • View consumer responses to the impact of inflation

India, July 13, 2022: UserTesting (NYSE: USER), a leader in video-based human insight, conducted a survey to understand the effects of the rising inflation on Indians’ spending habits and personal finances. As per the survey findings, over 95 percent of Indians reported that growing inflation is directly impacting their daily and monthly expenditure.

A host of cost pressures such as rising commodity prices, global supply disruptions, and more has been translated to end consumers in the form of elevated prices for goods and services across the board. Therefore, to meet basic needs, Indians are cutting back on their everyday expenses to meet their basic needs. About 60 percent of Indian respondents indicated that they are cutting back on entertainment and leisure activities such as movies, eating out, staycations, etc. Unsurprisingly, the respondents also mentioned minimizing personal car travel and opting for public transport to reduce their expenditure on petrol.

Mounting prices of essential commodities

Indians are facing the brunt of inflation majorly on petrol prices, as mentioned by 100 percent of the respondents during the survey. With essential grocery items such as bread witnessing a sharp rise in prices, 90 percent of the respondents have reported that it is becoming a burden to keep up with the inflation storm. Adding to the trouble, some respondents mentioned not having received any salary appraisals in the past year, leading to a reduction in personal savings for many.

Gig economy takes center stage amidst rising inflation

As inflation heats up, former motivations for side hustles, such as paying off debt and saving, have been replaced by a more pressing need: making ends meet. According to the survey, 75 percent of Indian respondents revealed that they are resorting to secondary sources of income to keep up with the increased cost of living. The popular options that were mentioned included freelancing and trading among other side gigs.

Indians replace their go-to shops: from big brands to local brands

Interestingly, the survey found that on average, 65 percent of Indians are buying from generic/local brands instead of name brands so as to save money. Stating that most generic brands are now offering the same quality of a product at a cheaper price, more than half of the Indians have shifted their focus on local brands, especially for purchases such as clothes and grocery items that are now being bought from local kirana shops.

About UserTesting

UserTesting (NYSE: USER) has fundamentally changed the way organizations get insights from customers with fast, opt-in feedback and experience capture technology. The UserTesting® Human Insight Platform taps into our global network of real people and generates video-based recorded experiences, so anyone in an organization can directly ask questions, hear what users say, see what they mean, and understand what it’s actually like to be a customer. Unlike approaches that track user behavior and then try to infer what that behavior means, UserTesting reduces guesswork and brings customer experience data to life with human insight. UserTesting has approximately 2,500 customers, including more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting is headquartered in San Francisco, California. To learn more, visit www.usertesting.com.

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Investment

Nikola to Participate in Upcoming Investor Conferences

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Nikola to Participate in Upcoming Investor Conferences

Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced its participation in the following investor conferences:

Kim Brady, CFO, will participate in a fireside chat at the Evercore ISI Global Clean Energy & Transition Technologies Summit on June 15, 2022, at 2 p.m. ET

ABOUT NIKOLA CORPORATION

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit http://www.nikolamotor.com or Twitter @nikolamotor.

SOURCE Nikola Corporation

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Press Release

2022 Zhejiang (HUZHOU) Export Online Fair (Europe-Textiles)

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2022 ZHEJIANG HUZHOU EXPORT ONLINE FAIR EUROPE TEXTILES

China Council for the Promotion of International Trade Huzhou Committee and the China Chamber of International Commerce Huzhou Chamber of Commerce are organizing the online fair-2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online continually for 4 days from the  13th of June till the 17th of June 2022.

Facing the international epidemic situation, in order to promote the trade between Europe and Huzhou, Zhejiang in China, the 2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online.

This online fair is an international platform to help European buyers meet with professional Huzhou textiles enterprises. With abundant experience in holding expos, the Huzhou fair created the original mode of “internet + expo” in China’s exhibition field while is still keeping improving and upgrading it to a higher level. The aim of the exhibition is to provide a comprehensive overview of the global market and at the same time to offer the best possible stage for the high proportion of strong Chinese suppliers and the best European buyers.

At the exhibition there will be at least 40 quality exhibitors, the B2B Huzhou Expo will be completely free for European buyers. The exhibition will be held on the new online platform for the fair https://efair.zjseek.com/web/#/exhibition

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