Mycar.kz, the first online car marketplace to appear in Kazakhstan, has sold 2,500 new cars fully online in the 10 months since the launch of the service, the company said.
Last July, Mycar.kz launched in-app sales of new cars from several brands with an option of getting a car loan from a number of partner banks. Mycar.kz has by now signed up over a hundred dealerships across Kazakhstan, which means a user can buy a car from anywhere in the country, the company said. The entire process of buying a car online takes about 25 minutes.
Online car loans were used by 60% of buyers. Income bracket is between KZT500,000-KZT1.0 million, and buyer’s age ranges from 25 to 54 years. Over 70% of all buyers are married, and almost half live in Almaty, Kazakhstan’s largest city and business capital.
The gender balance is 56% men and 44% women.
In terms of car brands sold online, Hyundai is the absolute leader with a share of 59% of all purchases, followed by Chery (19%) and Changan (12%).
Going forward, Mycar.kz plans to scale up the used car classifieds, connect new dealers and car brands, and further reduce the time of online transaction. The company is developing a ‘garage’ section in the Mycar.kz mobile application, providing users with full history of the car from purchase and maintenance to storing documents and preparing for sale.
It plans to expand the service by adding reminders about maintenance due, booking calendar and recommendations on keeping the car in good order in between servicing.
A predictive algorithm will suggest the best time to sell a car at the maximum price possible.
The company plans to upgrade it’s bonus system which awards points for buying a car, spare parts and maintenance servicing. They could be spent on users’ motoring needs as well as lifestyle services which Mycar.kz plans to integrate into the app as it aims to keep it leadership in digital car sales in the region.
