Singapore – Southeast Asian used car platform Carro has announced its acquisition of Beyond Cars, effectively expanding its reach towards the Hong Kong market.
With Hong Kong under its belt, Carro is now present in a total of 7 markets, including Singapore, Malaysia, Indonesia, Thailand, Japan, and Taiwan.
Through this partnership, Carro will be working towards expanding Beyond Cars’ network of partnerships, and further develop ancillary services across insurtech, financing and aftersales in Hong Kong.
Furthermore, the Beyond Cars team will continue to helm the business in Hong Kong, and will integrate Carro’s data-driven platform and its full-suite tech, including proprietary technologies and AI capabilities across pricing, inventory management, and inspection process.
Talking about the acquisition, Aaron Tan, Carro co-founder and Group CEO, said, “We have our sights set on big things in Hong Kong – beyond buying and selling cars. With Carro’s strong expertise in automotive technology and Beyond Cars’ wide network and trusted reputation in Hong Kong, I have no doubt that we can scale operations and take the brand to new heights.”
Meanwhile, Garry Yu, co-founder and CEO of Beyond Cars, commented, “Since our launch in 2016, our mission has always been to give our customers a seamless and transparent car-buying and selling experience. With Carro in the mix, I am sure we’ll be able to transform Hong Kong’s used car market and become the number 1 choice for customers in their used car ownership journey.”
