Buying quality at unbeatable prices online, car lovers will find value and bargains available at their fingertips, says GNETTE CHAN.
The company was established in 2008, with the ever increasing demand of cheap reliable used cars from Japan. With the weak Yen, by sourcing the cars directly at auction in Japan and shipping directly into Hong Kong, the company was able to offer high quality vehicles at affordable prices. By being selective and targeting particular brands and models suitable for the local market, the company was able to grow and expand very quickly within the first 5 years.
“With the recent changes in the parallel import regulations, there have been new opportunities for us to work with local importers to source and ship new vehicles into greater China to meet their demands,” says the company’s Ms. Gnette Chan. “We are hopeful that with these new changes, we will be able to explore additional avenues into this market to increase our new car sales. In addition, we are also looking to increase our exposure for other automotive related products and services into the Greater China market.”
Making a Difference
“We are able to differentiate ourselves from others, by bringing a new purchasing experience to the end user. By working closely with our suppliers and retail distribution, we are able to offer one of the most vertically integrated motor services within our industry. We are able to assist our clients from sourcing a particular vehicle globally, to the shipping and licensing in Hong Kong as well having an extensive stock list of cars locally.”
“We have created our own auction site which allows our users to view all the vehicles on offer at auction throughout Japan, and by using the site, users are to able to see each car’s information to allow them to make an informed purchase, and we are able to assist the whole process from purchase to licensing the vehicle for use in Hong Kong.”
“As we are the local representatives to many of Japan’s vehicle exporters, we are able to secure the best new and used stock available in Japan and with the economies of scale, we can offer the most frequent shipping schedules and lowered costs. This enables us to offer our stock at wholesale pricing to the retail market.
“As with most large ticket sales, our industry is often affected by of the health Hong Kong’s housing and investment markets. For most buyers, the car is the second largest investment and vehicles sales are severely affected by the local economy. Other factors that also affect such as increases to the first registration tax and exchange rates are also major obstacles to our industry. By actively monitoring exchange rates and purchasing stock at favourable exchange rates we are able to maintain a steady stock level and pricing. When local currency is unfavourable we also change the ratio of imported car and locally sourced cars by purchasing more vehicles locally,” she adds.
“We believe the only way we can achieve stable growth within the Hong Kong market it so become more horizontally integrated, by increasing the number of strategic partners and consolidation of resources. By bringing in other motor vehicle related services and products into our range of services we will be able to to expand and maintain our competitive advantage.
“Understanding the market needs and being able to implement changes to follow market trends quickly is the most essential aspect of our business. Being innovative with products and services and being first in the market is the key to success and profitability,” Chan concludes.
For additional information, please visit www.minghimcar.wixsite.com
Hong Kong’s Business Leaders share market and interest intelligence in the pages of HKMVC 2017