Thursday, 28th March 2024
To guardian.ng
Search
Breaking News:

Used vehicles selling fast on Efritin, says Dara

By Kingsley Jeremiah
08 July 2016   |   1:30 am
While sales of brand new vehicles is drastically being affected in Nigeria because of the struggling economy and the price, which has exponentially gone up, the market share for used vehicles (Tokumbo) has witnessed a surge.
Gbenro Dara, MD, Effritin

Gbenro Dara, MD, Effritin

While sales of brand new vehicles is drastically being affected in Nigeria because of the struggling economy and the price, which has exponentially gone up, the market share for used vehicles (Tokumbo) has witnessed a surge.

According to the Managing Directors, Efritin.com, an online platform that specializes in selling used goods, Gbenro Dara, the company is reaping the benefit of the country’s current economic challenges as more people now buy used products. In fact, used vehicles are the organisation’s best selling product since the Sweden Company opened in Nigeria early last year, Dara told The Guardian in Lagos.

As at the time this report was written, The Guardian verified that there were about 4,770 vehicles listed on the platform.

The figure was the largest follow by electronics (4,253), clothing, health and beauty (3,654) and others.

Dara, who said the organisation is currently in talk with authorised dealers of some brand new vehicles in Nigeria to list their products on the platform, stated that current economic situation favours used vehicle.

The online, noting that car market is huge in Nigeria, claimed that the growth in middle class boosting the number of first-time buyers.

“Despite the fact that new companies are coming into Nigeria to assemble vehicle, not everybody is able to buy brand new cars. The growth we have seen is more of the used vehicle”, Dara said

Attempt by the government to review implementation of the nation’s automotive policy may not have effect on the used car market, Dara said.

He stated that the organisation’s partnership with the Federal Road Safety Corps (FRSC), National Identity Management Commission (NIMC) and Bank Verification Number (BVN) would perfectly address buyers and sellers challenges, particularly in the area of fraud.

Dara added that the organisation has also launched an initiative called ‘Buy Now’ to help deliver products to buyers instantly without additional delivery charges.

He said: “We are determined to change how people buy goods online. We see a lot of problems in the used goods space, which we are on the verge of fixing.

“Our first attempt is to verify sellers in Nigeria. What we did was to start verifying everybody who is posting on our platform. We are using data provided by people to crosscheck with government databases. In the case where that is not available we have to do physical verification by sending our teams.”

Dara, lamented that inaccurate data, lack of manpower, infrastructure and polices are challenges government must tackle.

In this article

0 Comments