Rocket Internet looks to rock the used vehicle classifieds space, launches Carmudi

Rocket Internet looks to rock the used vehicle classifieds space, launches Carmudi

Tuesday October 29, 2013,

3 min Read

When you think of Rocket Internet, you immediately think of the best US internet ventures being cloned for local replicas. So, when you talk about Alando in Germany, you are reminded of eBay, and when you think about CityDeals in Europe, Groupon is what comes to mind. Enough and more has been said about the replication strategy of this global internet business incubator that was founded just 6 years ago by 3 German brothers. Despite hiccoughs like OfficeFab & Home24, and Rocket’s shutdown of Turkey operations, the company continues to make waves, especially in Asia.

The classifieds space is what seems to be the current flavour at Rocket Internet. Following closely on the heels of its announcement about its real estate platform – – Rocket has now formally launched –, a vehicle marketplace for emerging markets. This launch comes as a consolidation and rebranding of Rocket’s already established businesses in Mexico, Nigeria, Pakistan, Bangladesh, and Myanmar. According to Koen Thijssen, MD Asia Classifieds from Rocket Internet, “After having successfully developed our vehicle websites in five emerging markets in the past couple of months, we are very excited to continue our global roll-out and unify all of our services under our new brand name Carmudi...we will grow Carmudi very fast and establish the company as the new number one vehicle platform in emerging markets.”

Carmudi will serve as on online marketplace where sellers can list their cars, motorcycles and commercial vehicles and buyers get access to organized information. According to a ToI report, the used car market in India itself stands at INR 52,000 crore, growing at over 20% pa. By 2017, an estimated 8 million used cars will be sold. Now put the numbers together across the various markets that Rocket is targeting – the number can be quite staggering. The big question of course, is on consumer behaviour and buying preferences – is online the route they will take?