CARFIRST ACHIEVES TREMENDOUS GROWTH WITHIN FIRST SIX MONTHS
LAHORE, 5th JULY 2017: Strong demand, national expansion, fueled by innovation and implementation of international best practices, served as primary drivers of success for CarFirst. CarFirst provides car sellers a safe and hassle free process to get their cars inspected and sold at a fair price within an hour in which CarFirst even processes the payment. CarFirst also provides a first of its kind online auction platform for used-cars in Pakistan. CarFirst’s App, provides their private network of buyers the fastest way to find the perfect car that fits their buyers’ needs.
Raja Murad Khan, Co-Founder and CEO of CarFirst stated: “We started CarFirst with a vision to reinvent how used cars are traded in Pakistan through technology and infrastructure creation. We started our operations with a two man team in small home-office in Lahore and bought a Mehran as our first official purchase. We developed a unique model where we make this a one window solutions offering competitive prices and a very secure experience to sellers. Within six months, we have achieved tremendous growth and are now held by the Frontier Car Group with 115 employees and currently operating in Karachi, Lahore, and Islamabad, with plans to expand in other major cities across Pakistan.”
CARFIRST KEY SUCCESS MILESTONES:
- CarFirst, raised one of Pakistan’s biggest round of series ‘A’ funding to reinvent the used car sales sector.
- CarFirst has been growing rapidly, and has grown its trading volume by 1100% since inception.
- Since inception CarFirst’s Customer Service Center has seen a 280% increase and managed to bring over three thousand customers in for inspections from all over the country, with 10 active centers and 4 more coming online in July 2017.
- CarFirst’s Purchase Centers have seen an increase from 6 inspections per day per center to over 12 a day, resulting in over 3500 inspections. We now see an average of 10 inspections from walk in customers.
- CarFirst launched its Online Auction Platform through its Auction App on Android and the iOS platforms in May of 2017. Since then, over 200 private network of buyers have installed the app.
- Within two months the CarFirst Auction Platform has managed over 250 successful bids, by more than 70 buyers across Lahore, Karachi, and Islamabad. CarFirst sees huge opportunity in bringing a bigger chunk of the market on its platform.
On CarFirst’s expansion plans, Gibran Vahidy, Chief Operations Officer of CarFirst stated: “CarFirst is transforming the way used-cars are traded in Pakistan. We are presently looking to setup additional purchase centers in Lahore and Karachi, and establish centers in Faisalabad, Sialkot and Peshawar within the next two months. Additionally we are working to cater to increased volume with additional warehouses where we can facilitate buyers and manage inventory.”