CarSwitch, the UAE’s most innovative mobile-first used car retailer, has announced its official launch in the Kingdom of Saudi Arabia. The announcement comes after a hugely successful soft launch in the Kingdom during 2021 and forms a key pillar of CarSwitch’s market expansion strategy.
CarSwitch will be targeting the SR 30b pre-owned automotive market through the firm’s unique approach to the auto industry, providing both used car buyers and sellers better prices through direct seller-to-buyer deals, complete transparency and peace of mind. CarSwitch manages the entire transaction cycle for customers starting with its proprietary 200-point inspection protocol, verified vehicle condition history, professional photography and online check-out for every car. Through the CarSwitch platform, customers are guided through the entire process with a fully customisable and interactive buying and selling dashboard.
Carswitch was launched in 2016 as an innovative industry disrupter for the used car sector in the UAE and over the last five years has grown to become one of the leading independent used car retail operations in the region.
Carswitch has grown over 32x now with annual car sales nearing $100m, with over 500k app users and has become one of the highest-rated automotive experiences in both iOS App and Google Play Store
Imad Hammad, Founder and CEO, said:
“CarSwitch is on a mission to empower individuals to buy and sell cars with absolute peace of mind. The CarSwitch app has been designed to make the entire process seamless, transparent and pain-free for both buyers and sellers, allowing everyone to access a massive range of cars with great value, complete peace of mind, all hassle-free.
Introducing CarSwitch to Saudi Arabia was always part of our expansion strategy as the Kingdom is the largest market in the Middle East. During 2020, the market adapted to the pandemic very well and we anticipate it growing significantly in the next few years. Over 3 million female drivers alone joined the auto sector in the last 12 months and we have been keen to make sure that the platform offers them an environment that is attuned to their needs.”
Saudi Arabia’s General Authority for Competition* recently launched a survey to assess the state of the automotive industry in the Kingdom, looking to encourage the sector’s growth and ensure the protection of customers’ rights and healthy competition. The Saudi auto market is expected to attract almost SR40 billion ($10.67 billion) in direct investments to the automotive industry by 2040, adding up to SR80 billion to the Saudi gross domestic product (GDP), providing 27,000 direct jobs according to the Royal Commission.
CarSwitch has raised over $10m in venture funding to date, to develop an innovative customer-centric platform that completely reinvents the process of buying or selling used cars. For sellers, the service offers guided prices, convenience and access to a wider range of potential buyers. For buyers, they are able to benefit from increased variety, quality and transparency about their potential purchase. As regulations evolve, CarSwitch will also be able to continue managing the entire process for buyers and sellers, including vehicle transfer, financing and secure payments.
The Carswitch app is available on both IOS and Android with cross-platform support and new feature rollouts in the roadmap.
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