Mumbai-based CarTrade Tech, the parent company of CarWale, BikeWale, and OLX India, is in the final stages of acquiring its closest rival CarDekho in a landmark $1.2 billion deal, according to people familiar with the development.
The proposed acquisition is expected to be a cash-and-equity transaction which has reportedly completed due diligence, with final negotiations underway. If it goes as expected, the merger would bring together two of India’s most recognisable digital auto platforms, potentially creating a market leader in both new and used car segments.
The deal could fundamentally redefine the auto-tech landscape. Together, CarTrade and CarDekho would control a massive share of India’s online vehicle marketplace spanning listings, financing, insurance, and after-sales services. For competitors like Cars24, Spinny, and Droom, which have been ramping up financing and refurbishment operations, the combined scale of this entity could raise the competitive bar significantly.
From a strategic perspective, this merger reflects the consolidation wave sweeping through India’s tech ecosystem. After years of intense competition and investor burn, platforms are now focusing on synergies, profitability, and ecosystem control rather than pure user growth.
If the deal materialises, it’ll mark the beginning of a new phase in Indian auto-tech, one where data, financing, and platform depth matter more than just listings.
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