Xigem Technologies CEO Brian Kalish joined Steve Darling from Proactive to discuss the company's optimistic outlook on the used car market. Kalish highlighted the recent upswing in the global used car market, which was valued at approximately $1.9 trillion in 2022 and is projected to reach around $3.3 trillion by 2032. Additionally, estimates suggest that by 2026, over 10% of car sales in the US and Europe may occur through digital platforms utilizing AI, representing nearly 20% of used car transactions becoming completely digital.
Kalish emphasized that Xigem's acquisition of EchoDigital positions the company ideally to capitalize on this dynamic market. EchoDigital is an AI-powered automotive shopping platform that operates as a SaaS-based solution, leveraging proprietary AI technology to seamlessly generate leads from traditional sources. The EchoDigital AI evaluates and qualifies leads based on psychological aptitude, then matches them with the most suitable and qualified customer service or sales representative to facilitate the sale. This innovative approach enhances the efficiency and effectiveness of the sales process, driving value for both buyers and sellers in the used car market.
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