Nazareth Black
Founder and CEO
Car Fast
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View from the Top

Pioneer in a Nascent Niche: Digital Vehicle Sales

By Andrea Villar | Thu, 09/10/2020 - 12:49

Q: How does Car Fast’s operational structure benefit the final customer?

A: We are focused on selling and promoting new vehicles digitally. Car Fast is the first automotive dealership on the internet where people can buy a new car or even a tractor, truck or mower. Car Fast is the only dealer that an entirely integrated automotive offering. We are guided by the prices or by the price policy established by each brand. We will also match the price a customer may find at any other dealership. What want to ensure the client pays a fair price for what they are acquiring.

Financial focus is also very important for Car Fast. In Mexico, seven out of 10 vehicles are sold with financing. Having said that, financing is precisely where clients can find savings. Based on the customer's profile and needs, we can design the best option in terms of financing. Although different credit schemes can appear the same, the client can save a lot of money by choosing the right option.

Q: What critical moments has the company lived through?

A: We are finally beginning to see the fruits of our efforts. With the COVID-19 crisis, people are buying most things online. It has become clearer than ever that digitalization is very important. At the moment, the streets are empty, dealerships are closed and companies do not know how to react. For their part, people who were not used to buying online are going to start acquiring the habit, not only to do basic things like shopping for groceries but for long-term decisions like buying a vehicle.

Q: How has Car Fast strengthened its relationship with OEMs, brands and dealership groups?

A: Car Fast originally intended to obtain a fully digital and exclusive dealership from an OEM without having a dealer as an intermediary. In the early 2000s, this was illogical and even impossible. We started with a business model where our role was that of a digital marketplace for dealerships and banks to offer their products and services. We had to have a great deal of patience to see the results that we are seeing today.

We have two exclusive concessions: Zacua and Tazzari. We are the only Zacua dealers in the world, a 100 percent Mexican brand of electric cars. Similarly, Tazzari is an Italian electric vehicle brand that can only be purchased in Mexico through our platform. There has never been a direct concession of an OEM to a digital platform in the country or in Latin America before Car Fast.

Another major effort in this regard is Car Fast Financial, our sister digital platform where clients can receive financing options for new or used vehicles in a few minutes. Our platform allows secure and transparent purchases of new vehicles. When DiDi arrived in Mexico, we created a pilot test to provide loans to all its drivers for the acquisition of new units.

Q: On your website, you mention that the purchase is just the beginning of the journey. What does this mean for Car Fast users?

A: Aftersales service is extremely important. We have delivered thousands of vehicles and to each of our clients we have also delivered a thank you letter for their purchase with my personal cellphone number included. If at any time they need support, they can talk to me so we can help them solve any problem they may have with their vehicle. Aftersales attention corresponds to each brand, but we like to create a bond with our clients and help them solve any inconvenience they may have.

 

Car Fast is a Mexican digital dealership that offers all car brands. It has exclusive partnerships with Zacua and Tazzari. Vehicle sales are supported by its digital financing platform CarFast Financial

 

Andrea Villar Andrea Villar Journalist and Industry Analyst