CarSwitch, the UAE-based 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 $8bn 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 disruptor for the used car sector in the UAE and over the last five years has grown to become one of the top 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: "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.”
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.