Carmudi continues its rapid growth expansion in the Middle East

Rocket Internet’s Global car classified Platform moves into Saudi Arabia

​Berlin 14th May 2014 - Carmudi, the world's fastest growing car classifieds, has launched its platform in Saudi Arabia. Owing to its rapid success in the UAE, the automotive platform is continuing to execute its plan for expansion and global success further into a thriving and promising market of Middle East.

Bringing in the global know-how from Rocket Internet and being backed by Middle East Investment Holding (MEIH), Carmudi is bound to grow at an exponential pace in the Middle East. According to the Central Department of Statistics & Information (CDSI) in Saudi Arabia, 75% of the population in Riyadh alone is between the ages of 18 and 35. In fact, the region shows a continuously increasing rate of internet penetration which is currently at 49%, (a region-highest) smartphone penetration at 63% and a year over year increase in annual car sales of 10%.

Kerem Kuyucu founder of Carmudi Middle East stated: “The demographics and numbers show us that Saudi Arabia is a perfect market for automotive-related businesses. What they perhaps lack is a functional, user friendly and deep-in-content online portal to help consumers find the perfect car. Carmudi is going to be the solution to this pain point. We see the same potential here in Saudi Arabia as we do in other regions of the Middle East. Our expansion into the biggest market of the region has been on our agenda since day one. We are talking about a market where almost 1 million cars are sold every year.”

Since its launch in 2013, Carmudi’s objective has been to publish all the vehicles from every single car dealer from numerous parts of the world. While achieving its goal, the business is actively meeting the needs of emerging markets by delivering excellent services to its users.

Kuyucu further commented: “We are gaining traction in the UAE with over 3,000 business to consumer (B2C) listings and over 50,000 monthly visits. And now we are ready to replicate our agile organisation in Saudi Arabia.”

The vehicle marketplace www.saudi.carmudi.com enables customers to easily find or sell their car, motorcycle or commercial vehicle online. At the same time, vehicle dealers get a trusted online presence through a personalized webpage. The business 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.