Online car classified Carmudi is eyeing to expand its business operations in the Philippines by adding another extension office in Davao and Cagayan De Oro.
“The Philippine economy is really a market to watch. We are already spread out in 20 different countries across the globe and we are still seeing a lot of potential in doing business in the Philippines,” said Subir Lohani, managing director of Carmudi Philippines.
The expansion will be part of company’s strategy in saturating its market presence in Mindanao.
“The Philippine economy is really a market to watch. We are already spread out in 20 different countries across the globe and we are still seeing a lot of potential in doing business in the Philippines,” said Subir Lohani, managing director of Carmudi Philippines.
“Aside from agriculture and tourism, Mindanao has improved its information technology business which are the key drivers in growing the economy. We are looking on the bigger picture as GDP growth rate increase by 6.2-percent in the last five years and we see this opportunity to expand the business,” Lohani added.
The company started operating in January of 2014, providing its users online shopping experience allowing them to sell or buy any car, motorcycle or commercial vehicle in the fastest and easiest way. The car portal also offers unique search filters that enable users to browse target car based from lifestyle preferences.
“We bridge the gap between sellers and buyers on how they can both be happy on every purchase they will do. Aside from the transparent and trusted list of inventory, they can be 110-percent that all those cars, motorcycle and commercial vehicles they will view in our site had undergo quality screening check,” said Lohani.
As the company eyes to expand in Mindanao, it is looking to double its sales by end of the year.
The company allocated $16 million funds in Philippine operations alone, and it expects to grow the business in few years.
The online startup has 20,000+ listings with 9,000 used car dealers and 1,000 new car dealers. The company has 5-million visitors in a month with steady growing highly targeted audience.
Aside from Mindanao, Carmudi also is targeting cities in Visayas, such as Iloilo and Bacolod.
