CarTrade Tech expects demand boost from GST reduction

CarTrade Tech announced that the government's recent reduction of GST on passenger vehicles, two-wheelers, and used vehicles is expected to significantly enhance affordability, uplift consumer sentiment, and accelerate transaction volumes across both new and used categories. Early signs of this policy shift are already visible across the industry.

The company's consumer platforms, CarWale and BikeWale, have witnessed a surge of over 25% in consumer traffic, triggered by the GST reduction. The combination of this tax reform and the upcoming festive season is likely to further drive industry momentum.

Banwari Lal Sharma, CEO - Consumer Group, said: ?The GST reduction is a game-changer for India's automobile industry. By reducing ownership costs for consumers and increasing velocity for dealers, it has set off a new wave of demand. This policy move comes at the perfect time, just ahead of the festive season, and will act as a powerful catalyst for both new and used categories. We expect this to not only boost volumes but also deepen trust and participation across our ecosystem of consumers, dealers, and OEM partners?

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