Used car platform Cars24 has laid off 200 employees over the past few weeks after some projects announced by the Gurugram-based startup did not deliver as expected.

In a blog post, Cars24 co-founder and CEO Vikram Chopra said, “Over the last few months, we realised that some projects did not deliver what we expected. Some roles were added too early. A few hypotheses simply didn’t hold when tested. And in some cases, we couldn’t offer the kind of growth or learning that people truly deserve.”

“We’ve always believed in moving fast. We’ve always pushed to build big. But the hard truth is: speed without enough clarity is expensive. And when the math doesn’t add up, it is on us to reset,” said Chopra.

The layoffs come at a time when the used-car unicorn acquired automotive review platform Team-BHP.

“Every person impacted gave this company their time, energy, and belief. That matters deeply, and we are genuinely grateful. This is not about how hard someone worked. This is about the bets we placed and where we got it wrong,” said the Cars24 founder and CEO.

Chopra said it is easy to blame the market or external factors. “But the responsibility is ours. When the plan doesn’t work, you don’t blame the players, you take responsibility, and change the plan,” he said.

“I wish we hadn’t, but when you're building something hard, failures are part of the journey. The most challenging part is when those failures affect our teammates. That’s not easy to accept,” he said, adding that the startup is course-correcting now.

Chopra said the company will help the laid off staff to land on their feet. “We’re here for you, offering severance support, resume and LinkedIn assistance, mentorship, emotional wellness resources, and access to open roles within our network. Your managers and people team have already reached out to you. We are here for you, not just in words, but in action. Our first priority is to ensure the smoothest possible transition for you and your families,” said Chopra.

After acquiring Team-BHP, Cars24 earlier this week said that Team-BHP will continue to operate independently by its founding team, with zero-sponsored content policy, strict moderation, and community-first approach. CARS24's involvement is focused on strengthening Team-BHP's product, technology and AI capabilities to improve the experience of its readers and community members.

Rival Spinny has also entered the automobile content space with the acquisition of Autocar India. Value Drive Technologies, the parent company behind the used car marketplace unicorn Spinny, has recently taken over the automotive media assets of Haymarket SAC in India. This acquisition includes brands such as Autocar India, Autocar Professional, and What Car? India.