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Insight

Taking Car Sales to a Connected Future

Tue, 09/01/2015 - 15:44

While working as a car salesman in 2004, Nazareth Black, the founder and Director General of Car Fast, noticed a gap in the market in the provision of honest, comprehensive information for potential car buyers. With that in mind, she designed a platform that could provide a collection of independent information managed by the same organization, containing advice on vehicles and financial solutions. Nowadays, Car Fast is capable of filtering vehicles on offer by specifications, segment, price, and even personality, according to the specific interests the client presents. Once a vehicle is chosen, the site displays a detailed description of the car, providing the opportunity to compare it with four additional products. In terms of financial services, listings display up to 77 options, including insurance and license plate costs. Furthermore, if none of the listed choices suits the client’s needs, there is an option to request a payment plan with precise requirements. The service also integrates chat rooms where customers can speak with advisors to request support.

The company released its first platform in 2007, and the public began to respond to the business concept. Given that the site provided information of over 2,000 vehicles from 40 different brands, it was necessary to create a webpage for customers to browse freely. Once the final site was established, the platform began to gather loyal clients, and it has grown exponentially ever since. The company has faced strong competition, which Black sees as an asset rather than a challenge. When the latest update for the site was released in 2014, the founder noticed that one of the biggest-selling brands in the country had copied the platform and implemented it on its site. “When you see big industry players doing as you do, it definitely means that you are doing things right,” states Black.

The entire purchasing process can be carried out on the website, with flexibility in terms of delivery times and locations. Moreover, the platform assumes control of administrative aspects such as finance and insurance, dealing directly with car agencies and banks through its Agencias Amigas and Bancos Amigos networks. The platform itself, however, does not receive any money directly from the user in line with its goal of offering complete transparency. Instead, the payment is transferred to the individual account of each dealership. The web development is growing in such a way that Black and her associates are currently looking to become one of the most important automotive search engines in the market. The company is now expanding into used vehicles and automotive components, while also designing a brand new platform. With plans to expand to Brazil, the release of a digital automotive magazine, as well as the launch of Car Fast TV, the company is well on its way to achieving its goal of shifting the automotive market to the online world.