The Seoul, South Korean-based used vehicle marketplace, Autowini, recently released their yearly report covering their market share and car trading trends. In the report, Autowini is on top of the used vehicle import market in Latin America including Guatemala, Chile, etc. The report also revealed the company has over a 50% market share in Honduras, Guatemala, Georgia, Armenia, and Azerbaijan.
How Autowini breaks the mold of traditional used car trading market?
Autowini, which sells and ships used vehicles from Korea to dealerships and consumers all over the world, said they have facilitated more than 300 vehicle updates everyday on their platform last year and was one of the biggest trading platforms for Korean car brands from several different manufacturers. CEO of Autowini, Jiyoung Han, said that the company will invest in more local offices in ten regions to to help push further in markets in Africa and Latin America.
Despite the struggles of used vehicle platforms within high demand markets to keep up with competitive prices, Autowini has primarily seen issues from online scams, fraud, false information, and unsafe payment issues that saw consumers lose faith. Since then the company started up their B.I.S ("Buy It Safely") system to help create transparent purchases, to begin to share car information, provide regional sales advice, better car inspections, delivery tracking, and refunds for better customers safety and satisfaction.
Autowini knows that safety and transparency is vital within their worldwide business practices so they increased their inbound inquiries during last year and saw consumer retention grow. The company has earned a positive reputation among their consumers, with around half of car exporters in Korea signed up as Autowini clients to sell their vehicles, making Autowini the biggest platform for Korean-made cars.
The company is continuing to push forward as they are also preparing to start a new salvage vehicle auction service called "Auctionwini" to help change the salvage vehicle market to be safer and more transparent.
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