In an end-of-year research report by Mordor Intelligence about the Nigerian used car market, Carmart.ng ranked 2nd in Nigeria’s Used car market.

In the article, Mordor Intelligence, a revenue-funded organization started in 2014, partnered with over 600+ enterprises across 20 industries to deliver data-driven insights on projects, and took a deep dive into Nigeria’s booming used car market.

According to the article, the Nigeria used car market is valued at USD 1.14 billion and is anticipated to surpass a net valuation of USD 1.74 billion. Carrying out their analysis, the report noted that one of the reasons why the purchase of used cars is prevalent in Nigeria is due to the increase in the price of brand-new cars in the country.

The report notes: “The prices of new cars shot up extensively as of July 2023 because of the devaluation of the domestic currency, the naira, and the increase in exchange rates for clearing imports, which has had approximately a 15% impact on the prices of new cars.”


While the article analyzed the impact of the increased car prices on Nigerians, it also highlights the stride Nigerians are making, using technological devices to drive sales of cars in the country. The article says: “The adoption of advanced technology by tech-savvy young individuals, the emergence of e-commerce marketplaces, and the aggressive strategies employed by various companies to invest in online advertisements are driving the demand for used cars sold through online platforms. These platforms assist consumers in making informed decisions since comprehensive information about vehicles, such as make, model, kilometres driven, engine capacity, condition, etc., is readily available.”

According to the report, some of the high-ranking online car marketplaces in Nigeria include Jiji, Carmart.ng, OList, Autochek Africa, Betacar, BuyCars.ng, Auto Auction Mall, Najiauto, Tokunbocars.ng, CarXus, Cars.ng, and Cheapcars.ng, among others.


Mordor Intelligence report states: “These players engage in competitive dynamics based on several factors, including used car pricing, online presence, value-added services such as warranties and financing options, commission structures, the volume of listings on their platforms, and the availability of comprehensive information about the performance and condition of used vehicles on their websites.”

Also, the report noted that the increase in car sales using online marketplaces like Carmart.ng has been exacerbated by the increased use of the internet in Nigeria, which has gone from having 81.2 million users in 2018 to over 190 million in 2022.


What this report indicates is not just that the used car market dominates the Nigerian market car scene, and that online marketplaces play a pivotal role in its dominance, with brands like Carmart.ng taking a second place role in the growth of online car sales in Nigeria.

How to sell cars on carmart.ng

Create an Account:

Visit the https://www.carmart.ng/sell-car website and create a seller account if you don't already have one.

Provide Vehicle Details:

Log in to your account and navigate to the "Sell Your Car" or a similar section.
Enter accurate details about your car, including make, model, year, mileage, condition, and other relevant information.

Upload Photos:

Upload clear and high-quality photos of your car. Include pictures of the exterior, interior, and any notable features or damages.
Set a Competitive Price:

Research the market to determine a fair and competitive price for your car. Consider factors such as the car's condition, mileage, and the current market value.

Provide Contact Information:

Ensure that your contact information is accurate and up-to-date. This includes your phone number and email address.

BUY AND SELL CHEAP CARS NOW ONLY ON https://www.carmart.ng/

Join our WhatsApp Channel https://whatsapp.com/channel/0029Va99VGdJJhzglNCq043I

MyVILLAGEpeople:


Na for Nigeria u go hear say Tokunbo better pass new product.

MyVILLAGEpeople:


Na for Nigeria u go hear say Tokunbo better pass new product.

fineboynl:
Nigerian used cars no be am. Na inflation cause Nigeria problems. Cars of 200k equivalent few years ago before 99 democracy. Is what they are calling 10m -15m now. Why the once of 15k to 30k is what they calling 1.5m to 2.5m

sweetkev:
You'll be asked to pay certain amount to advertise your car on the useless carmart