Kuala Lumpur, Malaysia – Used car trading platform has announced its expansion to the untapped car trading market in East Malaysia by opening two myTukar inspection hubs located at Kuching, Sarawak and Kota Kinabalu, Sabah.
According to the Malaysian Automotive Association (MAA), used car sales grew by 100% in the first six months of 2020, a positive growth especially during Q3 of 2020, despite the ongoing pandemic.
“With the increased demand for used cars nationwide, we have also observed an increase in online trading among East Malaysians. Currently, only an estimated 26% of used car dealers in East Malaysia are conducting their transactions online,” said Fong Hon Sum, CEO of myTukar.
He added, “As myTukar’s mission is to simplify the process of selling used cars through digitalization within our online platform, we believe that it is the right time to enter the currently untapped East Malaysian market. The innovative myTukar platform is able to provide the needful support to used car dealers in East Malaysia, ultimately helping to increase sales for the dealers through a speedy, efficient, and cost-effective ecosystem.”
This is not the first time the Malaysia-based used car trading platform has gone wide market expansions in the country.
In October of 2020, seven branches were opened by myTukar across Malaysia, bringing the total number of branches to 15, and transacting over 27,000 vehicles with an estimated value of RM805M.
