I created this presentation during a 2nd round interview for a Product Manager role at Cars24. I devoted approximately 10 hrs in total to making this deck.

The objective is to propose a product strategy that will achieve an 80% financing rate for the used cars segment in India. The presentation shows how Cars24 can penetrate the Indian used car financing sector. Financing for used cars in FY22 is currently lagging at 20% while brand new cars have touched 80%.

This was an open ended case. So, I started by researching what should go into building a good product strategy for a new product with the intent to increase penetration from 20% to 80%. I also brainstormed with some of the senior product folks at my current firm.

The most difficult part of the presentation was the structure. I feel that the structure of each product strategy doc is always unique to the industry, especially in this case. The roadmap for the next 5 years with specific targets for the North Star metric for each of the year was the most important element (described on slide 5).

I landed on these lender pain points based on two bits of research:

Friends and college seniors working in the lending space


I also scoped out the current lending process from a lending organization’s perspective. This helped me generate some insights about how we can create an innovative product through a digital offering.
The interviewer appreciated the segmentation of the product's customer (B2B and B2C) and the comprehensive understanding their pain points. He applauded the clear tech solution and the timelines for their implementation as per the priorities and North Star metric goals.


The references for industry reports and stats are provided on slide 14.

I landed on the customer pain points by analyzing three key things:

Customer Research: I interviewed 3 customers who recently purchased auto vehicles. Understood their critical pain points and what could have been better. For a diverse customer viewpoint, I chose 2 customers who recently purchased used cars and 1 customer who purchased a brand new bike (as he could have been a potential upgrade customer for used car).

Industry Reports: Specific hurdles were mentioned regarding the lower penetration of the credit products in the used car segment.

Analyzed Current Product: I used some of the lending products for the used car segment. This helped me generate insight about the lack of digitization and repetitive need to provide documentation for loan approval.

The categorization was done for the Indian cities:

Tier 1 Cities: These are big Metropolitan cities with populations of more than 5 million residents

Tier 2 Cities: These are growing cities with population of between 500k to 5 million

Tier 3 Cities: These are smaller cities with usually rustic landscape. The population size is usually less than 500k

Sumit Rawat

I created this presentation during a 2nd round interview for a Product Manager role at Cars24. The objective is to propose a product strategy that will achieve an 80% financing rate for the used cars segment in India.

Case interview for Cars24

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