The Business Year

Hassan Jaffar

OMAN - Transport

Hassan Jaffar

Managing Director, Carzaty

Bio

TBY talks to Hassan Jaffar, Managing Director of Carzaty.

Why did you decide to set up Carzaty and how have you grown since then?

When I moved from the US, I started looking at the different industries that could be disrupted using technology. The automotive sector is the second-largest retail sector after food. It is highly fragmented and unorganized, and the used car segment does not have any large or established organized retailers. Consumers do not have the option to buy cars from a reliable retailer and have to resort to classified ads, where the quality and condition of the car are unknown. We sought out to solve that using a digital- and technology-first manner. Today, we are roughly 2.5 to three times larger as a business than we were pre-pandemic, so the business model has proven to be resilient.

When it comes to adding new cars to your catalogue, do you rely only on algorithms?

We primarily rely on an algorithm. We buy the cars and refurbish them to bring them to the highest quality standards before they are listed on our platform. A significant amount of technology goes into how we source these cars. If a consumer anywhere in the GCC lists their car on a classified site, our automated bot analyses that car and determines if it meets our pricing algorithm. If it does, it automatically sends a WhatsApp message to the seller and negotiates the initial price. If the consumer accepts, we book an appointment for one of our buyers to inspect the car and complete the purchase. This is how we can source cars at scale.

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