CARS24 elevates Shivanshu Makkar as CFO for India business

CARS24, India’s autotech platform, has announced the elevation of Shivanshu Makkar as Chief Financial Officer (CFO), India.

In this new role, Shivanshu will lead CARS24’s financial strategy with a clear mandate: to fuel growth with strong governance, disciplined capital allocation, and long-term planning. His focus will span across fiscal efficiency, compliance, and risk management, while also setting up frameworks that drive transparency, accountability, and resilience across the organization.

Shivanshu’s journey at CARS24 over the past four years reflects his appetite for learning and taking on challenges. He started in the CEO’s Office, where he worked on scaling new initiatives, before moving into the Retail Business , first as Director and later as Associate Vice President. Along the way, he has donned multiple hats across P&L, growth, customer experience, and operations. This breadth of exposure, combined with his willingness to step into new and complex roles, has given him a unique perspective that will now shape his approach as CFO.

Speaking on the elevation, Himanshu Ratnoo, CEO – India, CARS24, said: “Shivanshu brings a rare combination of financial acumen and business depth. He has consistently turned challenges into opportunities and delivered impact across roles. As CFO, his ability to pair visionary thinking with disciplined execution will be central to strengthening our foundation and accelerating our mission of making car ownership effortless.”

A Chartered Accountant and MBA, Shivanshu is an alumnus of SRCC and IIM Ahmedabad. Before joining CARS24, he spent nearly five years with McKinsey & Company, advising global clients on growth strategy, operations, and financial transformation. This consulting expertise, combined with his leadership journey at CARS24, equips him with a holistic perspective to drive value at scale.

Commenting on his elevation, Shivanshu Makkar said "CARS24 has always believed in moving fast, but moving fast also means being thoughtful with how we use our resources. My focus is to bring in the right financial discipline without slowing the pace of innovation. It’s about striking that balance, growing aggressively, but sustainably, and always with the customer at the center."

With this elevation, Makkar steps into a pivotal role that will further strengthen CARS24’s leadership bench as the company continues to transform the way India experiences car ownership.