A leading automobile sector focused lending fintech platform, Ruppy has achieved a major milestone of annual loan disbursal run rate of approximately USD 2 billion in FY2023-24.
The achievements are credited to its strategic collaborations with 37 distinguished banks and Non-Banking Financial Companies (NBFCs).
Consistently maintaining distributor net promoter scores of 75+, Rupyy has not only rolled out innovative technological solutions such as digiPartner and digiQode, it has invested in a substantial distribution network of 14,000 touchpoints across 1,500 cities.
Targeting a 20 percent market share in used car loans, the company is confident of maintaining its growth momentum in the current financial year with a significant rise in revenue and footprint. Planning to expand the reach to 2,000 cities across India, Rupyy is keen to solidify its leadership position in the used car financing market share.
"We are thrilled to have reached this monumental milestone," said Namit Jain, Founder & CEO of Rupyy. "This achievement is a testament to the hard work and unwavering dedication of our exceptional team members. Their relentless pursuit of excellence has propelled us to new heights, and I am confident that together, we are unstoppable. In the future, our focus will continue to be on fortifying our presence across the length and breadth of India. On the back of many emerging technologies, we will continue to stay at the forefront of innovation ultimately creating value for our customers, partners, and stakeholders,” he informed.
PPS Motors Opens Mahindra Service Facility In Saswad Spanning 25,400 Square Feet
- By MT Bureau
- October 15, 2026
Automobile retail group PPS Motors has opened a Mahindra service workshop in Saswad, near Pune. The facility marks the dealer group's 151st Mahindra touchpoint in India and expands its network to nine locations across the Pune region.
The workshop covers 25,400 square feet, making it the largest upcountry automobile service facility in the area. The site is equipped with 18 bays, comprising 13 mechanical service bays and five bodyshop bays, providing an annual service capacity exceeding 4,500 vehicles.
The location targets vehicle owners and agricultural transport operators in Saswad and surrounding districts. The opening ceremony was attended by Mahindra & Mahindra Senior Vice-President Pavan Kumar, Vice-President Sachin Gupta and PPS Motors Managing Director Rajiv Sanghvi.
Rajiv Sanghvi, Managing Director, PPS Motors, said, "We are proud to inaugurate our 151st Mahindra touchpoint, the largest upcountry automobile service workshop in the Pune region. With a robust network across six Indian states, we have consistently worked together to deliver outstanding value to our customers. With Mahindra’s technologically advanced products, customer-centric approach coupled with our deep understanding of the customer needs we together endeavour to provide Best-In-Class ownership experience for our customers."
Cars24 Records 750 Vehicle Deliveries On Opening Day Of Navratri
- By MT Bureau
- October 12, 2026
Cars24, a leading used car platform, has announced that it delivered 750 vehicles on 11 October, marking the first day of Navratri. The delivery volume represents a 58 percent increase compared to the same festival date in the previous year and 5x the volume of a standard Sunday transaction level.
Interestingly, first-time buyers accounted for 70 percent of total vehicle deliveries, with buyer ages ranging between 19 and 76 years. The platform recorded over 5 million user sessions on the same day for non-transactional vehicle lifecycle services, including insurance renewals, traffic fine settlements, Pollution Under Control Certificate checks and FASTag recharges.
More than 55 percent of delivered vehicles were processed through financing agreements. Sales registered under rural Regional Transport Offices grew at a faster rate than urban equivalents, accounting for over 40 percent of total vehicle sales, while 28 percent of deliveries expanded into new pin codes, including locations in Bhopal, Karnal, Visakhapatnam and Dehradun.
Petrol remained the primary fuel choice by sales volume, while CNG models achieved the highest growth rate alongside hybrid powertrains. SUVs recorded the highest volume expansion among body styles, led by models including the Tata Nexon and Punch.
Maruti Suzuki India models comprised over 40 percent of total vehicles sold, while automatic transmission variants accounted for one in three sales. Repeat customers generated over two-thirds of the day's platform transactions across sales and vehicle maintenance services.
Vikram Chopra, Founder, Cars24, said, "Navratri is when India brings home a new car, and yesterday 750 families did that with us. But what stayed with me was everything else on the dashboard. People cleared challans, renewed insurance and made sure their car was ready for the season. A car isn’t owned well on the day it’s bought. It’s owned well every year after. More than two-thirds of yesterday’s transactions came from owners who had turned to Cars24 before, and that tells us we’re becoming that place for them."
The sales performance on the opening day of Navratri provides an indicator of consumer demand trends, financing adoption, and regional market penetration across India's automotive sector ahead of Dussehra and Diwali.
Ola Electric Hosts 150 Retail Partners At Initial Dealer Day Event
- By MT Bureau
- October 10, 2026
Bengaluru-based electric vehicle maker Ola Electric hosted around 150 dealer partners at its Giga Factory and Future Factory facilities for its inaugural Dealer Day event.
The gathering brought together current and incoming retail partners from across India to inspect manufacturing operations, battery pack assembly lines and motor production facilities, as well as to meet with company executives.
The event follows Ola Electric's decision in August 2026 to transition from an exclusively direct-to-consumer, company-owned store framework – used since 2021 – to a franchise retail model.
Under the revised distribution structure, company-owned locations will function as brand experience centres, while dealer partners manage localised vehicle sales and aftersales service operations supported by the manufacturer's existing user base.
The first tranche of franchise locations opened across seven states, including Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh, and Madhya Pradesh.
To support the network restructuring, Ola Electric appointed former Hyundai Motor India President BVR Subbu as Senior Advisor in August 2026 to oversee partner integration and retail operations.
Trev Mobility To Raise $2 Million For EV Fleet Expansion
- By MT Bureau
- October 07, 2026
Electric mobility startup Trev Mobility plans to raise USD 2 million in its upcoming funding round to expand its fleet, enter new geographic markets and develop technology and operational infrastructure.
At present, the company operates a fleet of 105 EVs and plans to expand to 300 vehicles by the end of FY2027. The business targets a fleet size of 2,500 electric vehicles by 2031 through expansion across metropolitan regions and selected Tier-2 locations.
Trev Mobility previously raised INR 35 million from service users and reports progress toward PAT positivity at an annualised revenue run rate of approximately INR 150 million.
Naveen Gupta, Founder, Trev Mobility, said, "We have built Trev around a very clear customer need a reliable, premium and professionally managed mobility experience. Having grown from two vehicles to over 100, our next phase is about taking this model to more markets while maintaining the experience that differentiates us. We are looking to raise USD 2 million to accelerate that journey."
The company operates a direct chauffeur model rather than an aggregator structure, leasing approximately 90 percent of its fleet through financial leases while managing vehicle maintenance internally.
Its fleet includes electric models from MG and BYD, while driver safety technology includes artificial intelligence (AI) cameras to monitor driver fatigue, driving style and seatbelt usage. Chauffeurs are employed on fixed salary structures with performance incentives and insurance coverage.
"We are not trying to compete for every ride. There is a distinct segment of customers for whom the quality of the car, chauffeur, safety and overall experience matters significantly. We believe premium electric mobility can become a category, and our focus is on building Trev as a strong player in that space," Gupta added.
Geographic expansion plans target operational launches in Bengaluru and Mumbai through owned operations, alongside asset-light partnerships to support scaling across urban and Tier-2 markets.
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