CarTrade Tech Limited (NSE: CARTRADE | BSE: 543333) announced that the government’s recent reduction of GST on passenger vehicles, two-wheelers, and used vehicles has begun to lift auto demand across categories.
The company said its consumer platforms, CarWale and BikeWale, witnessed a surge of over 25% in consumer traffic following the GST announcement. CarTrade noted that the combination of lower GST rates and the upcoming festive season is expected to accelerate industry momentum in both new and used vehicle markets.
According to the company, early signs of recovery are visible with three key growth drivers:
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Increased dealer and OEM participation pushing up new vehicle volumes.
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Festive season demand, traditionally a peak period for auto sales.
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GST-led affordability gains, driving higher transaction volumes in new and used vehicles.
Banwari Lal Sharma, CEO – Consumer Group at CarTrade Tech, 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 move comes at the perfect time ahead of the festive season and will act as a powerful catalyst for both new and used categories.”
