Two decades of experience in the UAE's automotive industry helped Rahul Kulshreshtha spot something that was missing in this market - a comprehensive comparison site for new cars.
The website, Car Insight Solutions, lists the specifications and features of more than 1,200 models by 45 brands, which he claims makes it the most comprehensive new car website in the region.
It also includes reviews, information about the brands, as well as insurance prices, car loans and used car valuations for buyers looking to sell their current vehicles.
While similar concepts exist in developed markets, Mr Kulshreshtha, says comparisons sites in the Emirates are not as comprehensive as his. Here he reveals more about the company.
How do people save money using your site?
One is that they don’t have to go to 10 showrooms to find out the information. It is all available at a click. We have information they might not find in the showrooms. We have the fuel efficiencies for all the models, basically making it more convenient for buyers. People save not only money but also time.
How does Car Insight Solutions compare to websites such as Drive Arabia?
We have the most comprehensive car buying process [available in the region] on the site, starting with what the brand is all about. Say if you want to buy an Audi. What is Audi all about? You can also search by your criteria, say for example, 'I want a coupe; show me European coupe two litre cars'. You can search all the cars in the market and it will say these are the options for you. And then you can get into detailed comparisons. Drive Arabia doesn’t do all of this in detail. They have prices, yes, and they have some very basic comparisons yes, and they have some write-ups, whereas we have taken a very comprehensive approach.
How did you finance the business?
It’s something I bootstrapped. So it is a self-funded project. We did not approach investors because we wanted the right product, the right traction. We have started generating revenue, so now we have started approaching investors to invest in our project.
How do you make money?
We have three revenue models. One is the advertising. The second is lead generation – suppose if we have consumers coming in, giving their mobile number for test-drives, and we pass on the leads to car dealers. If we generate a qualified lead for them, we get compensated for that. The third one is by selling car insurance – we are launching car insurance by the end of the year that will feature all the key insurance players in the market. It will offer comparison and the facility to buy as well.
That already exists in the market.
Yes, that exists. This is not our key proposition, however we don’t want customers to have to go to 10 websites to research for a car, then for test-driving and insurance. So this is a one-stop shop, an A to Z for buying a new car.
The above article was sourced from TheNational.ae and it can be read in its original form here.