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How CarsPlenty Changed The Face Of automobile Industry In Nigeria

Posted by on January 21, 2022 0

The lifeblood of any economic system reflects the quality of transportation inherent in such a system.

According to research by, the results show that 80percent of trips in Nigeria are made by road, a glaring disparity with the badly mismanaged public transport system in the country.

It, therefore, comes as no surprise that most Nigerians heavily depend on privately-owned vehicles for their daily movement.

This fact corroborates with 2018 data presented by the Nigerian Bureau of Statistics (NBS), showing that 11.8 million vehicles were registered in Nigeria with the population estimated at 198 million, putting the ratio per population at 0.06percent.

The report also reported that 4.6 million (39percent) were private-owned, while 6.7 million (56percent) were commercial vehicles. However, recent market trends –as of August 2021- have indicated a massive 44percent increase in automobile sales, firmly establishing the fact that the automobile industry is a fertile one with limitless possibilities to contribute to the development of the Nigerian economy.

Also, the rise of e-commerce and digitalization has given the automobile industry a new face, introducing a better way for business transactions.

The unprecedented COVID-19 pandemic was a messenger like no other, showing that the traditional showroom and salesman pattern the industry has known since inception is no longer sustainable.

The initial lockdowns, social distancing, and closed showrooms have helped unlock digital transformation for the industry.

Forward-thinking brands with keen foresight into the future have since adapted to the new reality of a post-pandemic world, one championed by digital innovation by creating channels to meet their customers online and provide excellent services.

A leading Nigerian brand at the forefront of this innovation is CarsPlenty Nigeria – auctioneer of quality, used, and brand new cars in Nigeria. The organization is at the forefront of ushering in an age of innovative solutions in Africa’s ever-growing automotive tech space.

Through its digital platform, the start-up has successfully positioned itself at bringing buyers and sellers together in one space to ensure seamless transactions and an all-around stress-free experience for each party.

For the buyer, Carsplenty provides a trusted platform to buy affordable, quality cars on auction. On the part of the seller, it offers a wide-reaching audience that spans thousands of potential buyers, where the seller can auction a car and secure instant, guaranteed payments. This quality transcends to their offline showrooms located at Ajah and Ikeja, where buyers can inspect and pick up their cars.

The journey of a typical customer on the platform begins with the registration of the customer’s details, where the specifications of the cars are uploaded.

It is a hitch-free process that requires no payment. On the buyer’s part, Carsplenty offers a wide, unlimited variety of cars for bidding, provided that such a bidder subscribes to the platform with a sum of N50, 000. Auctioning cars with CarsPlenty requires that the auctioneer gets a car lot, after which the auctioneer must request a verification badge.

The process of getting verification ensures that the auctioneer is a registered and verified dealer in Nigeria according to the laws guiding the industry. Verification on the platform helps the auctioneer attract more end-users, as most customers prefer transacting with those that possess verified badges.

Additionally, the financing option of CarsPlenty is innovative and tailored to the times, offering users the Buy Now and Pay Later option. This option allows users to spread payment for 12 to 24 months, so long as they meet the following criteria; a down payment of at least 30percent of the price, a cheque account, with a verified Nigerian Bank, an office address; and a National identification.

The brand also smartly created an option for registered franchise car dealers, letting them trade within the platform. This simply means that car dealers can buy cars within the platform at a cheap price and resell them at a higher price.

Asides from these laudable plethoras of services, CarsPlenty has created an easier approach for customers by making their services accessible via mobile apps available both on the google play store and iOS store.

Through this, CarsPlenty continues its exemplary leadership in the strategic positioning of the automobile industry for sustained business success and by extension, the development, and growth of the Nigerian economy.

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