Used car marketplace CARS24 in February announced the appointment of former CEAT Specialty Tyres top executive Kunal Mundra as CEO of its cars vertical in India. Mr Mundra brings to the new role over 16 years of experience across different industries. He served as the Managing Director and CEO of CEAT Specialty Tyres for nearly five years.

In the recent past, he was an Executive Vice President at Bain Capital Private Equity. In this new role at CARS24, Mundra will be responsible for the company’s car business in India, while closely working with the co-founders to devise expansion strategy. “We are confident that Kunal’s obsession with cars, bikes and engines will further help us strengthen our foothold in this highly fragmented pre-owned car market in India, which showcases an immense potential to grow,” said Mr Vikram Chopra, Co-Founder and CEO, CARS24 India.

“I’m really looking forward to my ride with the Cars24 team. They have done an incredible job building a trusted consumer brand, a uniquely scalable business model and a strong competitive position in just a few years,” Mr Mundra said on his appointment. “The potential for growth in the global used car space is however vast and I look forward to helping the company drive this momentum forward.”