Nigerian Vehicle Marketplace Records Five Digit Growth in Africa

12 DECEMBER 2013
Lagos, December 12, 2013: Online marketplace Carmudi has exploded in popularity just two months after launching, showing promising signs for Nigeria’s automotive industry. Officially launched in October across three continents, is fast positioning itself as an industry leader in Africa - and consumers are responding. Monthly visits to Carmudi Nigeria (formerly known as Carmido) have increased by a massive 35,000% since April 2013 making the Nigerian website the fastest growing business of all Carmudi brands.

The growth comes at a time when Nigeria’s automotive industry is already in the spotlight. The federal government recently announced plans to increase taxes on imports in an effort to boost local production. Hence, Carmudi is now perfectly placed to meet consumer demand as the Nigerian car industry changes shape.

Sacha Poignonnec, co-CEO of the African Internet Holding, said: “The political changes in 2014 regarding the taxation of imported cars are surely a high advantage for Carmudi to succeed in Nigeria. But other than that, Carmudi’s model - featuring a user-friendly interface and high security standards to safeguard against fraud - has clearly struck a chord with motorists in Nigeria in the past months. Our strategy of focusing on the ‘white spots’ on the internet map is working, as more and more buyers and sellers turn to Carmudi for up-to-date listings and price comparisons in their region. We expect to see further growth in Nigeria in 2014 as Carmudi prepares to launch in new African markets next year.”

The vehicle marketplace enables customers to easily find or sell their car, motorcycle or commercial vehicle online. At the same time, vehicle dealers and agents get a trusted online presence through a personalized webpage. Carmudi offers diverse vehicle listings, an intuitive website design and high security standards to avoid fraud. The business platform operates under a high level of transparency through professional photos, updated listings, detailed descriptions, reports and rankings for 100% of its vehicles in each market. The Carmudi platform helps sellers manage their inventory in a fast, easy and stress-free way.

About Carmudi was founded in 2013 and is currently available in Mexico, Nigeria, Pakistan, Bangladesh and Myanmar. The vehicle marketplace offers buyers the ideal platform to find cars, motorcycle and commercial vehicles online. Previously, Carmudi was active under the brand names Carmido (Africa), Ubiauto (Latin America) and Motors (Asia).

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About Rocket Internet

About Rocket Internet

Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit