Carloha History

• Carloha was founded in New York, pioneering an “Amazon for cars” C2C/B2C model. At the height of its US operations, it ranked as one of the nation’s Top 3 online pre-owned dealers.

• “Amazon for cars”, C2C to B2C, inventory owning, free delivery across the US, 7-day money back guarantee.

• Service upgrade: established offline operation centers, offline + online+ finance to provide seamless customer service.

• Began to explore overseas market to increase profit margin,including South America, Middle East,Southeast Asia, West Asia and Africa.

• Chose Nigeria as the first stop for int’l business due to its large economy and young growing demographics, established local repair facility, US purchase + Nigeria repair/sale.

• Built up distribution network in Lagos, engaging in both wholesale and retail

• Purchased land in Lagos to build first-class showroom; promoted first batch of regular dealers to authorized dealers

• Lagos showroom opened in June; expanded business to Abuja; began to experiment OEM model with tractors, pickups, and electric two-wheelers

• Expanded used car business to Port Harcourt; opened first mall store in Lagos; purchased land in Abuja for flagship showroom; entered into EV business by adding Tesla to product portfolio; forged an exclusive national partnership with Chery Automobile and planning a new assembly line; Shanghai remanufacturing factory started operations

Construction of our landmark CKD assembly plant in the Lekki Free Trade Zone is scheduled for completion, solidifying our role as a leader in Africa’s automotive industrialization.