CarTrade To Help In Disposing Cars Impacted by the Chennai Floods

CarTrade Chennai Floods 2015

New Delhi, February 7, 2016: The devastating Chennai floods left many scars on the Indian population based in the metropolis.

But, as the city continues to pick up the pieces and is gearing up to get back on its feet with vigor, corporate, with innovative ways to lend a helping hand, have also come forth.

One such innovative measure that could bring relief to those affected by the Chennai Floods has been launched by

For the record, the Chennai floods, one of the most devastating in the country, had impacted more than 80,000 vehicles, out of which nearly 20,000 vehicles were declared “beyond repair.”

These assets require immediate assistance for disposing them of., which deals with auctioning total-loss vehicles and which auctions close to 250,000 assets every year, is now helping the insurance companies with the task of disposing of these very assets affected by the Chennai floods.

Ravi Mehra, President Auctions at the underlined the same when he revealed that “With the sudden influx of these vehicles, there is a need for consumers to get their insurance claims fulfilled urgently. We as leaders in this segment have enhanced our presence in Chennai so that all the affected parties can get timely redressal. Our nationwide spread of auction buyers and our best in class expertise ensure fair wreck values for both consumers and insurance companies.”

This online auction platform also boasts of robust yard sale facilities and the largest pool of pertinent buyers and claims that it has already addressed 2000+ vehicles last month.

It is expecting 10,000 additional vehicles to be lined-up for its upcoming online and yard auctions in Chennai.

The online platform also offers end-to-end services which include parking, towing and basic refurbishment facilities for all assets in its parking lots.

CarTrade was founded by Vinay Sanghi in 2009 and its existing investors include Warburg Pincus, JP Morgan, Temasek, March Capital and Epiphany ventures.