CarDekho Group, India’s leading car search venture, has expanded its global footprint by acquiring online car classifieds site, Carmudi Philippines. Carmudi was a part of Rocket Internet and is an online car classifieds site focusing on emerging markets. The company was founded in 2013.
In the company’s statement on this move, Co-Founder and President, CarDekho Group, said, “We are excited to expand our international footprint and invest in the new region. Philippines’ underlying macro fundamentals make it an extremely promising market. The market demand for new PVs in the Philippines has grown at a CAGR of 14 percent during 2014-2018 with new car sales crossing 3,80,000 units in 2018. We see this growth as a big opportunity to digitise the Philippines auto ecosystem and engage with consumers throughout their online car buying journey. Our strong ecosystem play has made us a leader in India and Indonesia. And now we are expecting the same for the Philippines.”
CarDekho Group owns and operates CarDekho.com, Gaadi.com, ZigWheels.com, Powerdrift.com, BikeDekho.com, and OTO.com in Indonesia.