Farago Motors CEO Nicholas Farago is trying to navigate his company through an era of upheaval in the automotive industry. Cars are no longer merely steel on wheels. They’re technology-driven smart vehicles that can also respond to voice commands, serve as a hub for digital entertainment and drive themselves.
Farago Motors, which is now one of the most preferred car dealerships and car importers based in Dubai, UAE, is now focused on bringing in electric vehicles and will not spread itself thin by attempting to bring in too many new self-drive cars, its chief executive said.
With the new era of the internet and proliferation of touch screen mobile phones, it may seem like technology completely transformed the past few years. But along with the expansion of technology and the digital era, Farago Motors has also adapted itself in the digital environment where now anyone can purchase cars online, according to Nicholas Farago, CEO of Farago Motors.
Right now, Farago Motors sells across different regions, Nicholas said, not just sedans, but SUVs, trucks, MPVs, etc. But Nicholas predicts that these self-drive cars will be replaced by the more powerful forces of transportation, as it’s a generation for electric vehicles.
“Looking to the future, the next big step will be for the very concept of ‘selling cars’ to grow rapidly,” Nicholas wrote. “Over time, the car itself will be an intelligent assistant helping you through your day.”
The reason why Farago Motors is going to expand its business is we understand the strategic importance of the luxury market. The luxury market is maybe 10% of the global industry. When you look at the profitability, it’s about one-third. So it’s very compelling. There are a lot of good competitors in the luxury segment. We thought long and hard about how do we differentiate our competitors in a relevant way. At the same time, we have to understand that we are one of the smallest luxury players and one of the biggest players for daily-driven vehicles. So how do we turn that to our advantage and give that customer personal service? When you look at our dealership in Dubai, it’s like walking into a high-end boutique. It’s not one of these large factory-type dealerships where you take a number. Step in, talk to our sales executive, and get the best offer for the selected vehicle.
Nicholas Farago on Instagram: @nickdxb_
Farago Motors on Instagram: @faragomotorsllc
Written in partnership with Grandiose Media
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