Cars45 expands business operations, targets regional African markets
Frontline automotive industry player, Cars45 Limited has embarked on a business expansion drive with the objective to extend its operational networks beyond Nigeria into several other vibrant markets across African continent.
The company, which is a leader in the auto sales and auction segment, says it has successfully launched its branch networks in several Nigerian cities, including Lagos, Abuja, Ilorin and Owerri, pointing out that its current focus is to extend further to cover potential vibrant markets across Africa.
The company, having successfully established its business networks across several Nigerian cities, said it would be extending its operational network to cover other regional hubs across Africa, including Ghana, Kenya and South Africa.
Disclosing the company’s business plans and objectives recently in an exclusive interview with MARKETING EDGE, the Vice President, Cars45 Consumer Business Group, Dr Mayokun Fadeyibi said the expansion project has become necessary in view of unfolding developments.
According to the company’s chief executive, Cars45 has already extended its operational base in three regional markets, adding that the prime focus was to ensure it continuously embark on business expansion drive with a commitment to driving total transformation of the automotive business landscape in Nigeria and Africa through deployment of the latest innovative technologies.
She noted that part of the organisation’s business objective was to continuously work with ambitious and like -minded business entities through collaborating with established auto dealers and market consumers in creating a robust automotive infrastructure and ecosystem in Nigeria and across the African continent.
She stated that the company’s ultimate objective was to intensify efforts on aggressive expansion drive in its business through leveraging on technology to drive trust and transparency in the automotive industry.
Fadeyibi said one of the things that became noticeable was the fact despite the huge population potentials, there was a huge market when it comes to automotive trade in Nigeria and Africa, adding that a lot of the automotive trade had been done very informally and without structures.
To this end, she said the company was focused solidly on creating enduring structures in the automotive ecosystem and ensuring constant supply to dealers across the markets.
Furthermore, she noted that one of the basic challenges of the industry was the apparent dearth of data knowledge and statistics to determine vehicular worth and pricing mechanism, stressing that the company was working with a view to developing a reliable data base that would be providing quality valuation and efficient verification processes for the auto market.
“Literally, technology drives us on a daily basis. So, we are inspecting with our own proprietary inspection algorithm to help us inspect every single car, providing valuations, we have our own proprietary algorithm that guides us in the pricing of cars, and then even the fact that you are in the centre, from an inspection perspective we have over 70 inspections centres around the country.
“We have our technology that is guiding everyone and ensuring that we are able to do all of these inspections, and then also even from the back end from our grading report, our inspection algorithm, our pricing algorithm, our trade transaction is literally facilitated by technology.
“I think we can confidently say that we are the market maker, and when I say market it literally means nothing existed. It was very fragmented and obstructed, and we literally started to make the market. It will be very presumptuous of us to say that we are the leader when there is so much left in the market to build, there is so much left in the market to own and there is so much left in the market to grow,” she said.
She concluded: “The fact is that there was a goal in mind from the very beginning and then as we worked in the market, we started to understand gaps and working to fill those gaps is guiding us going forward. We are literately making the market and as we make and build, we provide solutions.”
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