Thursday, June 1, 2023

Kavak inaugurates used car refurbishment plant

Poplar on the app Buying, repairing and selling of multi-brand pre-owned vehicles Is Inaugurating Its 16,000 Square Meter Car Repair Factory This May 16th Tocancipa (Cundinamarca).

there the company invested a little more than two million dollars And its task is to bring the vehicles that the company buys to an optimal point.

Once repaired, under quality and safety standards, they are offered for sale through the Kwak platform and at its physical locations bogota, Central Plaza, Metropolis and Zula in Usaquén.

The brand has been in Colombia for two years in all but one of the operations, as indicated by Manager, Louis Edward Lopez.

(How to Buy a Vehicle Without Risking a Scam).

The business model has been very well received in the country, as they do not receive vehicles on consignment, the manager explained: “With us, the customer can sell his vehicle to us as it requires liquidity, we will replace the car or sell it” to whomever he likes, but all operations are always with the fungus brand”.

When it comes to buying a car, The firm pays 90% of the agreed price immediately, and typically within 15 minutes, or a maximum of two hours, one sees the consignment of resources reflected, and the balance is rotated at the time of transfer. This is the reason why its clientele consists of people who are looking for cash for their business and find immediate exposure to the brand.

(The finance and tax expense impacted the company’s balance sheet).

This company’s foray into the virtual and physical world also has its limits: Buy only cars that are not more than 10 years old, with a maximum of 100,000 kms and no customization or updates to the vehicle, it must be original, They negotiate almost all brands of vehicles in the market and the prices are determined with an algorithm that includes variables such as model, mileage, treatment of the vehicle and the cost of repairs to get it ready if there are no problems. If so, the price is usually the market price.

Lopez indicates that they handle the concept of ‘pre-owned’, as all vehicle components are checked at their plant and the parts that are replaced are only original.

(Automundial is committed to reducing costs in the transportation sector).

Furthermore, their legal team reviews all the documents for the cars they are buying. The entire end-to-end operation is handled by the company. In fact, in addition to Kwak’s investment resources, it is backed by private investment funds that guarantee sufficient liquidity to purchase the vehicles it chooses.

about the subject, The manager explained that 20% of the vehicles offered to him are rejected because they are not within the purchase parameters.

(The effect of the increase in gasoline in the pockets of Colombians).

The vehicle marketer conducts thousands of monthly operations with invoices that range between 45 million pesos and 67 million pesos (with the dollar at $4,500).

Luis Eduardo López revealed that for this year they plan to triple the volume of their operations bogota Which today has increased more than three times from last year’s quantity.

As indicated, the business of buying and selling used cars in Colombia is huge and dynamic. In fact, last year the operations in the country stood at 1,123,300 compared to new car sales of only 262,595 units.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here