Cars24 exits Indonesia and Saudi Arabia

The two countries are among the five core global markets of the Gurugram-headquartered used car sales startup.

Used car sales startup Cars24 has shut down operations in Indonesia and Saudi Arabia. The Morning Context could not ascertain the number of people who have been affected, but Tech in Asia reported that around 100 employees were laid off in Indonesia.

Cars24 co-founder and global CEO Vikram Chopra confirmed the development on Thursday. “We realized we need a deeper focus and hence, after months of deliberation, we have made the difficult decision to not pursue operations in Indonesia and Saudi Arabia at the moment,” he said in response to an email. “We will be prioritizing our focus on our …


Samiksha Goel

Samiksha covered all things startups at The Morning Context. She joined us from The New Indian Express, where she wrote stories on the retail and food sectors. Prior to that, she had covered startups and written various business features in the Deccan Herald.