ET - (ECONOMIC TIMES) 29/08/2022.
Kuwy controls 5% of India's used car finance market by helping car dealers succeed in the new mobile-first economy by selling and financing a car to a customer online.
In the last couple of years, there has been rapid innovation within the automotive industry in India. Car dealers have quickly responded to consumer preferences for a low touch buying experience. Digital car sales and finance platform Kuwy has seen its used car loan growth increase by 200% in 2022.
Kuwy now counts 4000+ car dealers among the customers for its digital retail platform. Kuwy is transforming car purchases by providing dealerships with all the tools they need to streamline and complete customer car sales online. The Kuwy Automotive eCommerce platform is built for digital car sales by providing a point-of-sale app that integrates with a dealer's existing website and supports its current business processes. Car buyers apply for financing and receive real-time offers from lenders to finalize a sale digitally, providing almost entirely touchless car sales no matter how or where the sale process began. Kuwy offers comprehensive dealership training and total integration management so dealers can stay focused on their daily business of fulfilling customer needs. "Online car sales is gaining rapid traction in India. We're committed to helping our channel partners sell and finance cars to their customers entirely online through technology innovation, " said B.Ganesh Kumar, Chief Executive Officer and Co-founder of Kuwy.
1 - Sell more cars faster with Access to Credit, Greater Selection of Lender Choices, Paperless Application & Automated Credit Decisioning
2 - Grow your business with Digitization by making a point of sale wherever and whenever a customer wants to buy a car
3 - Make more profits by giving customers a one-stop shop to purchase all their F&I/backend products along with the car purchase
1 - 5000+ operating Channels, which provides for Used & New Car Dealers and DSA's
2 - 1000+ locations PAN India sourcing Used & New Car Loans
3 - 25 + Private Banks, NBFCS, PSUs & Captive give automated credit decisions
4 - 10000+ Certified/Valuated Cars of dealer/lender in Kuwy Platform
5 - 50+ integration partners (Lenders, Dealers & Marketplaces)
6 - 100% team growth in 2022 in support of dealer customers
7 - 99% Loan Migration (Name Transfer & Hypothecation) within 30 days
8 - 25000 + new and used car insurance's done thru Kuwy Insuretech last four months.