SOUTH AFRICA – YeloMotor, a vehicle marketplace connecting buyers and sellers, has launched in South Africa, helping users purchase cars in a transparent manner from reviewed sellers, reports Disrupt Africa.
Launched in March this year, YeloMotor brings together the automobile community, and allows users to buy from sellers whose reputations have been approved by others.
“Few decisions we make in life can be more nerve-racking and expensive than privately buying or selling a car online, and in the digital age you’re just as likely to get scammed as you are finding your dream ride,” founder Denzil Kisten said.
YeloMotor aims to put the consumer in control, offering access to a transparent online community that allows members to separate genuine buyers and sellers from scammers.
“What separates YeloMotor from the rest is its belief that buying and selling a car online is about ensuring users can trust the person on the other side of the computer. YeloMotor strives to provide private sellers and buyers with the right data and tools that can make them feel secure and safe in the online world,” Kisten said.
It connects the online automotive community by putting control of the car-buying process back in the consumer’s hands. With its free service, consumers can record information they have about fraudulent sellers or vendors (i.e. name, alias, posted advertisement, etc…) and YeloMotor will alert members looking to reference a seller or vendor before they make a costly financial transaction.
For a small fee, YeloMotor’s members will have the added ability to better research and identify potential scams and fraud with information cultivated from consumers just like them.
The future is bright for Africa’s e-commerce automotive market and recent sales trends estimate passenger vehicle sales could reach up to 10 million units annually by 2033.
With those positive developments continuing for years to come, YeloMotor’s goal is to improve the online automotive market through sharing research and reviews that are for consumers, by consumers.
The development of Africa’s private car buying market is rising, with a growth potential of between three to four million car sales between 2020 and 2025, according to market research and consulting firm Mordor Intelligence.
Growing at an even faster pace is the continent’s Internet usage. In July 2019 alone, more people in Africa (525 million people) accessed the Internet than in Latin America, North America or the Middle East.