Cars45 provides an end-to-end digitised customer journey for buying, selling and swapping cars in Africa. Its technology-enabled platform makes it easier to trade cars in Africa and it also provides access to finance, insurance and other value-added services.
Cars45 is building the infrastructure that allows sellers and buyers of cars across the continent to exchange value quickly, cheaply and with unhindered access to independent, relevant information required for decision making. It also has retail outlets at strategic locations to make it easier for customers to trade securely and with peace of mind. Its parent company recently raised a lot of money.
Now, the Nigeria’s leading automotive trading platform has launched into Ghana (www.cars45.com.gh) and Kenya (www.cars45.co.ke). Cars45 is aiming to become the primary platform for all car transactions in the $45 billion African used car market and expansion into these strategic markets marks an important step on that journey.
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In an African market where 9 million used cars are traded annually, trust is often a rare commodity as buyers and sellers navigate opaque pricing and quality assurance structures. Using its technology-enabled platform, consumers in Ghana and Kenya can now sell their cars directly through Cars45 and get paid in 45 minutes. Sellers have access to standardised pricing and a transparent marketplace, with 100 percent visibility into price offers, and buyers get access to the largest selection of verified cars. Cars45 will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other ancillary services that consumers will need in their automotive lifecycle.
With retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya even further by opening more centres in Mombasa, Tema, Kumasi and other cities. Cars45 also aims to expand into additional African markets in 2020.
In addition to its launch into these markets, Cars45 is also launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in. In an African automotive market where trust is not traditionally high, consumers will be able to connect in a seamless and secure way, using Cars45 as a marker of professionalism and excellence.
All cars listed in the Cars45 marketplace have been through a thorough vetting process (200 point inspection, due diligence and background check) and will carry the trusted Cars45 inspection report. Cars45 will also conduct multi-level screening to ensure that only serious buyers are brought forward. Buyers will have full confidence in the purchase they are making and sellers will be protected by an escrow model.
According to Etop Ikpe, CEO and co-founder of Cars45, “We want to connect buyers and sellers across the continent in the most seamless way, taking the stress out of the trading experience. After successfully establishing ourselves in Nigeria, expanding into Ghana and Kenya made perfect sense as the ideal next step as we build a transparent and fair structure for trading cars on the continent.
Ikpe added that “the process of buying and selling cars today can be complicated, time-consuming and needlessly expensive. We want to put an end to that by providing an easy and convenient way for consumers across Africa to make what is often the most significant financial transaction of their lives.”
