Chicagohandjob September 17, 2021 /prnewswire/- verticalA fast-growing car history reporting platform owned by IT company CV Group, expects to double its revenue by the end of this year. The firm’s sales revenue is estimated to exceed 16 million euros, which is double of 8.5 million euros back in 2020.
Shaping the Practice of Buying a New Car
The platform, which provides data on car registrations, mileage readings, damage history and other pertinent information, is still focused on private car buyers in 2021, but sales in the B2B sector will grow rapidly in the second half of this year . According to vertical CEO Rocas Madonis, “This move as well as strategically important decisions have ensured strong and stable growth for the firm.”
“So far, all of our customers have been personal car buyers. However, we started investing in the development of the business segment in the second half of the year. We are setting up a B2B sales team and already used to Have signed contracts with car dealers everywhere from small businesses to official manufacturer dealerships and even credit companies Europe,” says Madonis.
The purpose of carVertical is to ensure that the history of the car is presented to the buyer at the initiative of the seller. hand medon believes that this is the only way to take the transparency standards in the used car market to a new level.
This platform is available in 25 markets
The car history checking service entered a new country earlier this year. this was it United Kingdom Which joined the remaining 24 different markets. According to the company’s CEO, it has been a tremendous and carefully planned project.
“The UK is a completely different market with its own special needs if we compare it to the rest of the Europe. The difference in the UK is the almost non-existent import and export of used cars. In addition, there is fierce competition among car history checking services in that market,” says Madonis.
The most significant growth for carVertical this year was in Poland And this czech republic. However, Madonis claims that there is still a lot of untapped potential in these countries.
Ukraine Shocked the firm with an unexpected jump in sales, while only minor inputs were made from the marketing team. Madonis claims this is an indicator of a clear direction of development for years to come.
extend beyond Europe
Europe Still the main focus of car vertical operations. Italy The platform has recently been added to the map, but according to Madonis, it is not a priority market and therefore does not receive sufficient marketing resources at the present time.
Car history reports are also available United States, but by the end of the year, CarVertical plans to enter another continent.
“The hardest work is already behind us. We have reached an agreement with our data suppliers, and as soon as we have resolved the remaining technical issues, we will start our services for car buyers. Australia,” explains Madonis.
Madonis further explains that the firm is actively working with the South African market, as it will likely be the first African country to allow consumers to check car history.
Although Car Vertical’s car history check service is a digital product, Madonis recognizes that digital tools alone are insufficient to reach more consumers.
This year, the firm has moved beyond digital marketing to launch advertising campaigns on both TV and radio Lithuaniahandjob Latviahandjob Estoniahandjob Poland, And this czech republic.
This practice has been proven to work well, and the company will be implementing this strategy for two more large Central and Eastern European markets.
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