CARS24, the online transaction platform for pre-owned vehicles, has announced the appointment of Kunal Mundra as its new chief executive officer for the cars vertical in India. In this new role, Mundra will be responsible for the company’s car business in India, while closely working with the co-founders to devise an expansion strategy.
Mundra has worked in senior roles across several industries, including auto, manufacturing and services. An IIM-B Alumnus, he is a seasoned professional with over 16 years of experience. Mundra was the chief executive officer and founder of CEAT Specialty Tyres for five years, and a member of ExCom for CEAT Tyres. In his recent past, he was an executive vice president at Bain Capital Private Equity, where, as an operating partner he helped their portfolio companies navigate several formidable challenges.
In his new role, Mundra will help futureproof the brand as we continue to grow and revolutionise the way Indians buy or sell pre-owned vehicles, Vikram Chopra, co-founder and chief executive officer, CARS24 India said. “In this hyper growth stage, it has become imperative for us to invest in building strong leadership teams and Kunal’s experience across various sectors will go a long way in strengthening CARS24’s four-wheeler vertical- by playing on our existing strengths and at the same time keeping the brand agile for the next leap. He will further help us strengthen our foothold in this highly fragmented pre-owned car market in India, which showcases an immense potential to grow,” he added further on the appointment.
“The potential for growth in the global used car space is vast and I look forward to helping the company drive this momentum forward,” Mundra added on his new role.