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Kredo Mobility driving a bright future for SA’s auto industry

Oct 23, 2024 Kredo Mobility, Kriben Reddy, Nunben Dixon.


Kredo Mobility driving a bright future for SA’s auto industry

 

South Africa’s automotive industry is under immense pressure, as declining sales and high fixed costs take their toll on consumers, dealers, OEMs, banks, and insurers alike. It doesn’t have to be this way, says industry veteran Kriben Reddy – and he’s putting his money where his mouth is with the official launch this week of a new digital solutions service, Kredo Mobility.

 

Kredo Mobility’s bold mission is to reshape the local automotive sector by making mobility more accessible and affordable for consumers, and more efficient and effective for dealers and the broader ecosystem. It aims to do this by using homegrown digital solutions to streamline processes, identify the right customers quickly, reduce fraud, offer a single view of customers and vehicles, and provide real-time pricing information for vehicles.

 

Speaking at the launch event, founder and CEO Reddy said the industry faces major challenges, including deteriorating consumer creditworthiness, which limits affordability and reduces success rates in vehicle financing. Data shows that only around 15% of finance applications convert into actual deals, placing pressure on dealers to identify high-quality prospects from the outset.

 

“What we need is a more competitive, transparent, and consumer-friendly automotive market, that makes the entire ecosystem from dealer to consumer stronger, more efficient, and more sustainable. We want to help dealers grow and reduce costs, and see consumers benefit from a fairer and more competitive environment,” said Reddy.

 

Reddy brings nearly 25 years of experience to the table. He was part of the team that launched the first dealer-to-dealer online auction platform in the country in the early 2000s, and also launched the industry’s first dealer mobile app, that became the go-to tool for vehicle verification and valuation. He spearheaded the e-KYC solution for dealers, enabling seamless, compliant onboarding processes, and played a critical role in retiring the M&M book (a 60-year-old printed guide for vehicle values) and transitioning the industry to a fully digital valuation solution.

 

He is supported by another well-known industry figure, previous Head of Gumtree Auto, Nunben Dixon. Dixon, who is Kredo’s Head of Sales, has pushed the boundaries of dealer marketing while optimising the consumer experience for smoother car-buying journeys.

 

Kredo believes a more competitive and cohesive data landscape in the industry will reduce verification costs, foster innovation, and improve operational efficiency. Dealers currently struggle to access comprehensive, consolidated insights that combine vehicle and customer information. A unified data view could improve dealer decision-making power tenfold and enhance competitiveness in a fast-evolving market, said Reddy.

 

“By consolidating vehicle and customer data into a single, comprehensive view, we give dealers a powerful tool to streamline operations and make more confident decisions. At the same time, as verification costs rise, many dealers have been forced to reduce the number of checks they perform, leaving them vulnerable to fraud. Our robust fraud prevention tools address this issue by identifying and eliminating risks early in the process,” said Reddy.

 

“The fact is that technology is changing the industry forever. Our AI-powered insights level the playing field for smaller dealers, giving them the same competitive edge as larger players. This allows all dealers to compete on an equal footing, regardless of size or resources, and gives consumers access to the mobility they so desperately need.”

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