{"id":2574,"date":"2020-08-26T13:31:55","date_gmt":"2020-08-26T19:31:55","guid":{"rendered":"http:\/\/accesstomexico.mx\/blog\/?p=2574"},"modified":"2020-08-28T13:35:56","modified_gmt":"2020-08-28T19:35:56","slug":"mexican-used-car-startup-kavak-announces-argentina-expansion","status":"publish","type":"post","link":"https:\/\/accesstomexico.mx\/blog\/mexican-used-car-startup-kavak-announces-argentina-expansion\/","title":{"rendered":"Mexican used car startup Kavak announces Argentina expansion."},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"852\" height=\"566\" src=\"https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1.png\" alt=\"\" class=\"wp-image-2575\" srcset=\"https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1.png 852w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-300x199.png 300w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-768x510.png 768w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-700x465.png 700w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-520x345.png 520w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-360x239.png 360w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-250x166.png 250w, https:\/\/accesstomexico.mx\/blog\/wp-content\/uploads\/2020\/08\/MEXICO-ING-1-100x66.png 100w\" sizes=\"auto, (max-width: 852px) 100vw, 852px\" \/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.reuters.com\/article\/us-mexico-kavak\/mexican-used-car-startup-kavak-announces-argentina-expansion-idUSKBN25M1JJ\" target=\"_blank\" rel=\"noreferrer noopener\">REUTERS<\/a><\/p>\n\n\n\n<p>SoftBank-backed used car platform Kavak is expanding from Mexico into Argentina in a merger with secondhand auto company Checkars after seeing sales recover from a pandemic-induced dip, Kavak Chief Executive Carlos Garcia said in an interview on Tuesday.<\/p>\n\n\n\n<p>Although Kavak\u2019s sales in Mexico fell 28% in April from the prior year, they recovered to pre-pandemic levels in June and began to pull even higher in August.<\/p>\n\n\n\n<p>As part of the move into its first market outside Mexico, Kavak, an online platform for buying and selling secondhand cars, will invest $10 million in Argentina.<\/p>\n\n\n\n<p>Buenos Aires-based Checkars, founded in 2018, has recorded 1,500 transactions and last year posted $8 million in sales, Kavak said in a statement. Checkars confirmed the details of the deal.<\/p>\n\n\n\n<p>As well as ensuring a smooth merger, Garcia\u2019s next challenge is to boost inventory.<\/p>\n\n\n\n<p>That\u2019s both to grab a bigger share of the used car market &#8211; which he says is worth $60 billion in Mexico and $20 billion in Argentina &#8211; and to meet rising demand from budget-conscious shoppers hit by the pandemic, a trend already documented in the United States.<\/p>\n\n\n\n<p>\u201cNow with the pandemic, economics are more important for customers than ever,\u201d Garcia said.<\/p>\n\n\n\n<p>His plan is to offer 20,000 used autos in Mexico in the next 12 months, up from 2,000 now available.<\/p>\n\n\n\n<p>Some buyers come from households that already have one car, and opt for a second as an alternative to the subways and buses where passengers are more vulnerable to picking up the virus, he noted.<\/p>\n\n\n\n<p>Garcia declined to state how much funding Kavak has raised, but said Japanese investor SoftBank Group Corp (9984.T), which is aiming to deploy up to $5 billion in Latin America, has brought a global perspective to the four-year-old startup.<\/p>\n\n\n\n<p><strong>Daina Beth Solomon. (2020). Mexican used car startup Kavak announces Argentina expansion. UK.&nbsp;<em>Reuters.&nbsp;<\/em>Recuperado de&nbsp;<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.reuters.com\/article\/us-mexico-kavak\/mexican-used-car-startup-kavak-announces-argentina-expansion-idUSKBN25M1JJ\">https:\/\/www.reuters.com\/article\/us-mexico-kavak\/mexican-used-car-startup-kavak-announces-argentina-expansion-idUSKBN25M1JJ<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>REUTERS SoftBank-backed used car platform Kavak is expanding from Mexico into Argentina in a merger with secondhand auto company Checkars after seeing sales recover from a pandemic-induced dip, Kavak Chief Executive Carlos Garcia said in an interview on Tuesday. Although [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2574","post","type-post","status-publish","format-standard","hentry","category-uncategorized","clearfix"],"_links":{"self":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/2574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/comments?post=2574"}],"version-history":[{"count":1,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/2574\/revisions"}],"predecessor-version":[{"id":2576,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/2574\/revisions\/2576"}],"wp:attachment":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/media?parent=2574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/categories?post=2574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/tags?post=2574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}