Team-BHP, a significant Indian automotive community platform, has been acquired by CARS24. Enhancing digital infrastructure and improving user decision-making in the automotive industry are the goals of the move.
According to a press release from the company, Team-BHP will carry on with its current policies, which include community-based moderation and no sponsored content, under the leadership of its founding team.
Team-BHP was established in 2004 and offers vehicle insights, ownership reports, and user-driven reviews. Without changing its core functions, CARS24 will concentrate on incorporating technology, product enhancements, and AI tools into Team-BHP.
According to CARS24 CEO Vikram Chopra, the collaboration will enhance platform capabilities and encourage better data use. Team-BHP founder Rush Parekh stressed the platform’s ongoing autonomy while utilizing fresh resources to expand.
Together, the companies will improve features for consumers who purchase, sell, and own vehicles.
According to Cars24, which is supported by Alpha Wave, SoftBank, Tencent, and DST Global, it sold 200,000 vehicles in the fiscal year that ended in March 2024, or FY24. Its gross revenue during the period increased from Rs 5,530 crore in the previous fiscal year to Rs 6,917 crore.
