In 5years, Car45 will be bigger than Nigerian market – Patricia Duru

The Head of Cars45 Market Place, Patricia Duru has highlighted the corporate objectives of the frontline Nigerian automotive industry player, saying that the ultimate goal of the company was to grow and become truly the giant of the automotive industry in Africa over the period of the next five years.

According to a report on Marketing Edge, Duru also stated that over the next five years, the company would want not to be seen as just a Nigerian company, but rather would want to be referred to as Cas45, the African company based on the aggressive expansion plans of its network across the African continent.

Duru observed also that one major challenge bedeviling the automotive business sector in Nigeria remains the fact that the market was largely fragmented, without structures, and lots of players in the industry had issues around trust.

She added that in a bid to address the challenge, Cars45, through continuous leveraging on power of network effect, had come in with a mission and objective of streamlining a highly fragmented ecosystem into a more structured one, and ensure that automotive trade in the country was largely sustained in a manner that Nigerians could conveniently carry out their auto transactions without fears.

“The way forward is exactly what Cars45 is doing right now, to become the market maker where we are basically introducing structure generally into a fragmented market, and we are not truly where we want to be; but again, with what we’ve done in terms of heavy lifting, we’ve tried to at least bring in some sanity into the system.

“We have ambitious plans to really, really expand aggressively across Africa. I see Cars45 in the next five years becoming the giant of the automotive industry in Africa,” she said.

She added: “Before our foray into the market, the whole environment was unstructured and a lot of people had issues around trust. Cars45 has just come in to try and see how we can streamline all of this and make sure that we are trading and encouraging automotive trade in such a way that people are comfortably and conveniently carrying out automotive trade.”

Continuing, she noted: “But also taking it a notch further where we are truly delivering innovative solutions, leveraging the power of network effect, and streamlining a fragmented ecosystem into a more structured one where the mandate would be, when you are referring to us, you are thinking of Cars45 the African company, not a Nigerian company.

On future plans and the organisation’s business relationship with teeming consumers and market dealers, Duru observed that although a significant number of the dealers and consumers were working currently via the company’s ecosystem, more effort was needed to bring in more people on board, and to also harness the relationship in such a way that the ecosystem truly works.

“In terms of our business relationship with these set of people that you mentioned, especially consumers and dealers, we are not where we want to be; so, we have a significant number of dealers working within our ecosystem. We have gotten a bit of the consumers within the market, but I think we still need to do more in terms of bringing more people on board, and harnessing that relationship in such a way that the ecosystem works perfectly,” she concluded.

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