Two years into its business, myTukar Sdn Bhd is accelerating its growth with the opening of three new branches in Peninsular Malaysia. The ambitious growth plan is supported by CARRO, a Singapore-based Southeast Asian technology-enabled automotive marketplace.
To date, myTukar’s 2,000-strong dealership network has transacted over 23,000 vehicles with an estimated value of RM750 million. Digitalisation of the purchasing process has enabled it to serve the used car industry efficiently.
Fong Hon Sum, CEO of myTukar said: “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.”
Mr. Fong, who has over 20 years of experience in the used car industry, is keen to bring positive changes, technological improvements and transparency to the industry. His deep knowledge of the inner workings within the industry brought together over 2,000 dealerships in which myTukar works in partnership to support their needs.
Four more branches before year-end
After the three new ones in Malacca, Penang and Ipoh, another four more branches will soon open, bringing the total branches nationwide to sixteen. The additional four branches include a second Johor Bahru branch which will also be myTukar’s Southern Logistics hub and a major hub for car inspection. Mr. Fong said that more branches will open in 2021 to cover more cities around the country.
Each new branch can accommodate up to 3 cars at any given time and are equipped with basic amenities in a waiting lounge. There are qualified and professional inspectors to provide a comprehensive 158-point inspection and evaluation within 30 minutes or less. When in full operation, the 16 branches will be able to handle up to 300 vehicles per day.
“This nationwide expansion strategy is aligned to and complements CARRO Group’s strategy to continuously expand and digitalise car trading for the South East Asia Region. CARRO Group is SouthEast Asia’s largest car marketplace and currently has a presence in Singapore, Thailand, Indonesia and Malaysia,” he said.
Collaboration with Sime Darby Auto Selection
The latest collaboration for myTukar 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.
Financial services programme to support 1,900 used car dealers
