myTukar Expands Used Car Trading Network With New Branches
myTukar Sdn Bhd continues to expand its online used car trading platform with the opening of new branches nationwide. Claiming to be Malaysia’s fastest growing online used car trading platform, the company had recently opened new branches in Ipoh, Penang and Melaka. Another four branches are scheduled for a Q4 2020 opening. This will bring its network of branches to 16 outlets nationwide.
The branches which house its inspection centres will support its dealership network. To-date, myTukar’s extensive dealership network is 2,000 strong and has transacted over 23,000 vehicles with an estimated value of RM750 million.
The additional four branches targeted for Q4 opening includes a second Johor Bahru outlet. This new centre will measure 29,000 square feet and will also be myTukar’s Southern Logistics hub and a major hub for car inspection. Other branches will be in second cities in Peninsular Malaysia i.e. Kuantan, Batu Pahat and Seremban.
myTukar’s current branches are located in Glenmarie, Puchong (Central Logistics Hub & Puchong 2nd Branch), Selayang, USJ (40,000 sq ft Central Logistics Hub), Cheras, Klang, Kajang and Johor Bahru; followed by the recent three in Melaka, Ipoh and Penang.
Each new myTukar branch can accommodate up to three cars at any given time and are equipped with basic amenities such as free WiFi, refreshments and a comfortable waiting lounge. Each branch is manned by qualified and professional inspectors to provide comprehensive 158-point inspection and evaluation within 30 minutes. These sixteen branches are able to serve up to a total of 300 cars per day.
This innovative platform began operations in 2018 and has been on an aggressive business growth strategy to serve the used car industry through digitalisation of the purchasing process. This ambitious growth is supported by CARRO, a Singapore-based technology-enabled automotive marketplace founded in 2015. CARRO is active across Singapore, Indonesia, Thailand and Malaysia with a fast-growing dealership network of over 6,250.
“The opening of multiple new branches is the most significant milestone for myTukar since we began operations in 2018. We are driven by our mission to digitalise and transform the traditional way of selling used cars. And I am proud to say that myTukar was built by the people in the used car industry, to empower and support other used car dealers using technology. With the opening of new branches in 2020, we are committed to expand our customer touchpoints for an unrivalled car selling experience. More branches are already on the horizon to cover more cities in Malaysia by 2021. This nationwide expansion strategy is aligned to and complements CARRO Group’s strategy to continuously expand and digitalise car trading for the Southeast Asia Region. CARRO Group is SouthEast Asia’s largest car marketplace and currently has presence in Singapore, Thailand, Indonesia and Malaysia,” said Fong Hon Sum, CEO of myTukar.
Fong, who has over 20 years’ experience in the used car industry aims to bring positive changes, technological improvements and transparency to the industry. His deep knowledge of the inner workings within the industry has so far brought together over 2,000 dealerships which myTukar works with to support their needs. Other hyper-growth initiatives that myTukar has embarked on are partnerships and strategic collaborations over the last two years.
In June 2020, the myTukar Dynamic Dealership Programme was launched as an innovative financing scheme. This RM300 million scheme, in collaboration with CapBay, will support used car dealers in Malaysia with a convenient and integrated purchasing experience. In addition, myTukar sealed a first-of-its-kind collaboration with SISMA Auto Glenmarie SELEKT Center where its trusted and transparent platform ensures SISMA Auto’s customers obtain the best price through a fully digital process that allows customers to bypass a third party.
myTukar’s latest collaboration is a platform integration with Sime Darby Auto Selection to enable the company’s efficient inventory management of trade-in cars as well as the transfer of knowledge by myTukar to integrate Sime Darby Auto Selection’s inspectors into the process of strengthening used car trade-in services.
“These few key initiatives launched during the Covid-19 pandemic were key to drive business recovery and to fuel growth for the automotive industry in Malaysia. As the fastest growing online used car trading platform in Malaysia, myTukar remains committed to providing the best online experience, drive digital innovation and offer unwavering support to the used car ecosystem,” added Fong.
To sell your car via myTukar, you just need to follow the following steps:
- Make an inspection appointment
- Agree to place your vehicle for bidding
- Accept the offer and receive payment within 24 hours.
For more information, please visit myTukar.com or call +603 5569 0999.
