This archive report was first published on 10 December 2019.
On December 10, 2019, Cars45, Frontier Car Group's automotive trading platform, officially launched in Ghana and Kenya, marking a significant milestone in its expansion across Africa.
According to Etop Ikpe, CEO and co-founder of Cars45, the process of buying and selling cars can be complicated, time-consuming, and needlessly expensive. He emphasized the need for a platform that provides an easy and convenient way for consumers to make significant financial transactions.
Cars45 allows consumers in Ghana and Kenya to sell their cars directly through its platform and receive payment in 45 minutes. The platform offers standardized pricing, a transparent marketplace, and 100% visibility into price offers, providing buyers with access to the largest selection of verified cars.
Additionally, Cars45 promises vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing, and other ancillary services that consumers need in their automotive lifecycle.
With retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya by opening more centers in Mombasa, Tema, Kumasi, and other cities. The company aims to expand into additional African markets in 2020.
Cars45 is also focusing on its consumer-to-consumer marketplace, which directly matches sellers and buyers across all markets it operates in. This will directly compete with marketplaces such as Cheki, which has not seen substantial growth in recent years.
To ensure trust and confidence in the marketplace, Cars45 conducts a thorough vetting process (200-point inspection, due diligence, and background check) for all listed cars, which will carry the trusted Cars45 inspection report. The company also conducts multi-level screening to ensure that only serious buyers are brought forward.
