Trade X Boosts Auto Business in Nigeria

  • Trade X Boosts Auto Business in Nigeria
    At the Launching, Global Head, Business Dev. Billy Martin, and General Manager, Africa and Middle East, Mark Carwood

    A Canadian Auto tech Firm, Trade X, has formally launched an online App that would give auto dealers in Nigeria an opportunity to engage on a robust cross-border auto trading without any hitch.

The new app located on App stores for Android and iOS users offers range of value added services to it’s users, mainly vehicle dealers which will make their buying, selling and servicing of autos an easy task across borders.

Trade X is B2B (business to business) cross-border automotive trading platform will allows auto traders to buy and sell vehicles from a robust global inventory warehoused on its database.

The company’s AI-driven ‘Brain’ software provides dealers, fleet owners, and mobility solutions providers first-ever support in all aspects of vehicle trading.

This includes trade financing, compliance, customs requirements, international payments processing, vehicle inspections, digital trade documentation, and homologation.

Launching the Trade X platform in Lagos, during the week, the Global Head of Business Development, Mr Billy Martin and General Manager, Africa and Middle East, Mark Carwood said that the platform will make vehicle purchasing, importation and servicing easier for Nigerian automotive dealers purchasing vehicles from suppliers in North America, Europe, and Asia by providing African dealers a wider range of vehicle accessibility that would have otherwise been difficult to obtain.

According to Billy Martins, choosing Trade X for business transactions guarantee the auto dealers a non geographical restrictions on auto trading and dealings from start to the point of delivery of imported vehicles.

He noted that Trade X handles the full hundred percent risk-free process of auto trade from wherever in the world, whereby dealers trade in vehicles with authorized users in other parts of the world quickly and easily.

Martins who clarified that Trade X deal only with auto dealers and corporate bodies emphasized that all what needed to be done by would be business partner is to sign up to the company link, search for vehicles to buy, negotiate the price and pay the deposit or sign up for financing, while owner wait patiently to take delivery and pay the balance moment he or she collect the vehicles.

He said that the Nigerian market has a huge potential for auto traders and that they were just scratching the surface from what was seen on ground due to the ever increasing demand for used and new vehicles.

Martins said that platform was already in use in 53 countries with plans to expand to 120 countries by the end of next year.

Mark Carwood who also shared his business acumen, said the platform delivers a one stop shop solution for sourcing vehicles for customers at competitive prices that will allow dealers to turn a profit. “It’s like printing money for dealer.”

He pointed out that issues of trust and reliability of inventory would be taken care of by the company through its due diligence facilities to ensure that orders match deliveries all the time.

He noted that the Trade X platform allows for sourcing the right vehicle spec for each country, proper documentation transparency, shipping, customs clearance and delivery depending on options taken.

To begin the process of cross-border trading, local automotive dealers can sign up online on the website and can start building greater inventory for their customers.

He noted that poor transparency around logistics, vehicle condition, valuation, and pricing has served as a barrier to entry in international automotive trading. In recent years, Nigerian dealers who have managed to buy vehicles from global sources have had to do so in a largely fragmented way, relying on personal contacts and managing the purchase and importation logistics themselves. Transactions were characterized by a lack of trust, visibility, and buyer/seller protection, which, in turn, limited trade. All these will be removed by the use of the Trade X platform, he said.

For dealers, the Trade X platform provides peace of mind and security as well as simplifies the experience and ensures each transaction is transparent, compliant, insured, and monitored from start to finish.

The launch was attended by the media and Members of the various auto dealers associations in the South West, where they received the Trade X platform to wide acclaim with instant download and practical demonstrations about its usage and several benefits.






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