Carmudi Nigeria finds sweet spot as motor industry changes shape

Previously going by the name Carmido, Carmudi Nigeria is an online marketplace for vehicles that today announced it has hit a massive surge in popularity over the past months as it continues to show promising signs for Nigeria’s developing automotive industry.

By offering diverse vehicle listings, Carmudi lets customers find or sell their cars, motorcycles or commercial vehicles online. With recent political changes, Carmudi has managed to hit the ultimate sweet spot in its market. Monthly visits to Carmudi Nigeria have increased by a massive 35,000% since April 2013.

The Nigerian federal government has recently announced its efforts to promote local industrialization and limit the import of used cars. The 10-year automotive policy launched a few weeks ago includes a phased ban on used cars and high tariffs to discourage imports.

Co-CEO of the African Internet Holding Sacha Poignonnec said: “The political changes in 2014 regarding the taxation of imported cars are surely a high advantage for Carmudi to succeed in Nigeria.” Carmudi is seen as now being perfectly placed to meet consumer demand as the Nigerian car industry changes shape.

He further notes that Carmudi Nigeria’s user-friendly interface and high security standards to safeguard against fraud has contributed to its success.

The business platform operates under a high level of transparency through the encouragement of professional photos, updated listings, detailed descriptions, reports and rankings for 100% of its vehicles in each market. Poignonnec further says that given this current successful indicators for Carmudi Nigeria, it is likely to expand next year:

“Our strategy of focusing on the ‘white spots’ on the internet map is working, as more and more buyers and sellers turn to Carmudi for up-to-date listings and price comparisons in their region. We expect to see further growth in Nigeria in 2014 as Carmudi prepares to launch in new African markets next year.”

Carmudi is a Rocket Internet-backed startup group operating in more than five regions across the globe since it officially launched in October. It’s overall market is estimated at 700-million people spread across Mexico, Nigeria, Pakistan, Bangladesh and Myanmar. Carmudi Nigerian is the fastest growing business of all Carmudi brands.