Customer Experience and Technology Strategy Power Growth in the Used Car Market
Since the COVID-19 pandemic started, the used car market has boomed, and online transactional companies (OTCs) have gained traction. Among them, Kavak has stood out in Latin America with its owned certified vehicles. Created in 2016 in Mexico, the company became the 1st unicorn from the country. Currently, it has operations in Latin America and the Middle East and is focused on strengthening its brand in key markets.
Since its inception, Kavak has invested in a multi-brand inventory, with nearly new and used vehicles in good shape. In addition, the company provides relevant value-added services to its customers, such as financing and extended warranty.
This profile overviews Kavak’s business model and key strategies, focusing on its product portfolio. It also analyzes main competitors and examines important partnerships and acquisitions the company has made.
As the online transactional market has been facing some obstacles globally, with participants going out of business, this study analyzes key challenges that Kavak should address to maintain its good numbers.
In addition, it analyzes the factors driving and restraining growth and identifies the opportunities emerging from this space for Kavak to leverage.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Kavak
