Spinny vs Cars24 vs OLX Autos vs Droom

The used car market in India has seen tremendous growth over the past few years. From being largely unorganised, it is now rapidly moving towards a more transparent, tech-enabled ecosystem. In 2025, the market size is estimated at around USD 36 billion (₹3 lakh crore), and it is expected to almost double by 2030. This growth is driven by increasing consumer trust, better financing options, organised platforms, and changing attitudes towards car ownership.

Spinny, CARS24, OLX Autos, and Droom remain the four most recognised names in this space. Each has built a different business model, offers unique customer propositions, and targets growth in its own way. Here’s a closer look at where they stand in 2025.

Valuations and Funding

• Spinny – Spinny reached a valuation of around USD 1.8 billion after previous funding rounds. In early 2025, it closed a Series F round, showing investor confidence in its direct-to-consumer model.

• CARS24 – Currently valued at about USD 3.3 billion, CARS24 has evolved beyond buying and selling cars into offering a complete ownership ecosystem, supported by recent capital infusions to expand technology and lending operations.

• Droom – With a valuation of approximately USD 360 million in early 2025, Droom has reduced losses and is now preparing for an IPO in 2027, aiming for a valuation in the USD 1.2–1.5 billion range.

• OLX Autos – OLX’s auto business in India, now part of CarTrade, benefits from the parent platform’s 40 million monthly active users. While exact valuation figures aren’t public, its classifieds leadership remains a strong competitive edge.

Business Models

• Spinny – Operates a full-stack, direct-to-consumer model. Cars are acquired, refurbished, and certified through a 200-point inspection, then sold at a fixed price. Customers get a five-day return policy and access to financing options. Spinny has seen rising participation from women buyers, strong interest in automatic cars and compact SUVs, and growing traction in metro cities.

• CARS24 – Uses a tech-driven marketplace model combined with a full ownership services platform. Listings from verified dealers and individuals are backed by stringent checks. Buyers benefit from AI-powered pricing, 300-point inspections, financing, RC transfer assistance, and optional Care+ packages that offer up to three years of warranty, roadside assistance, annual servicing, and buyback options.

• OLX Autos – Builds on OLX’s established classifieds ecosystem, connecting buyers, sellers, and dealers. Its large data pool helps forecast trends, improve transparency, and strengthen dealer networks.

• Droom – A multi-vehicle marketplace offering cars, bikes, EVs, and rentals. It aims to diversify categories while focusing on operational efficiency and gearing up for its IPO.

Technology and Innovation

All four platforms have made technology a central part of their operations.

• Spinny focuses on standardised inspections, digital transactions, and financing integration.

• CARS24 uses AI-based pricing, real-time RC transfer tracking, and tech-enabled pre-delivery inspections to increase transparency.

• OLX Autos leverages its large dataset for better buyer-seller matching.

• Droom uses proprietary algorithms for pricing, history checks, and vehicle condition assessment.

Market Trends in 2025

The organised used car segment in India is growing faster than the unorganised market, driven by customer demand for trust, warranties, and transparent pricing. Financing penetration is increasing, with digital transactions becoming the norm.

First-time buyers remain the largest customer segment, while female buyers and electric vehicles are gaining share. Compact SUVs and automatic cars are in high demand, and cities like Bengaluru, Hyderabad, Delhi, and Pune are emerging as major hubs for online used car sales.

Comparison Table – Spinny vs CARS24 vs OLX Autos vs Droom

Conclusion

The competition in India’s used car market is not just about inventory—it’s about offering a seamless, transparent, and reliable experience.

• Spinny focuses on full control over quality and pricing through its D2C model.

• CARS24 combines scale with a complete set of ownership services and tech-driven transparency.

• OLX Autos leverages its classifieds dominance and data to connect buyers and sellers.

• Droom is betting on diversification and capital market expansion.

As the market continues to grow, the winners will be those who integrate technology, financing, post-sale support, and customer trust into one smooth experience.