Singapore – Carro, an AI-driven used car marketplace based in Singapore, has announced the promotion of Katherine Teo as its new chief marketing officer, moving beyond her recent role as the regional head of marketing for the company and its subsidiaries across Asia-Pacific.
In an exclusive conversation with MARKETECH APAC, Teo shared her continued plans for the marketing and branding efforts for the company.
“I will continue to drive strategic marketing and branding efforts for the Carro Group, with a focus on strengthening synergy across our ancillary businesses, such as for insurance, our after sales arm Carro Care, and Genie Financial Services,”
She also added, “We are prioritising new, emerging markets such as Japan and Hong Kong, and our ancillary businesses in finance, insurance, and after sales. “
It is worth noting that Carro had recently acquired Beyond Cars, a Hong Kong-based user cars buying and selling platform; as well as marking its expansion into Japan with a partnership with SoftBank back in 2022. Moreover, Carro had also announced an investment with production house Driven Communications, and even received funding from DRB-HICOM for its Genie Financial Services.
When asked about her learnings that she will bring to her senior role, Teo said, “Continue to foster a culture of creativity. It’s really simple: we want to make great ads that people want to see. We want to continue to put out quality campaigns that are rooted in strong consumer insights. And to do so, I believe in cultivating an honest, open team that can sprout radical, refreshing, and fun ideas. After all, our marketing campaigns are a culmination of many minds put together.”
Under her recent marketing role at Carro, the company has seen multiple marketing campaigns that she oversaw, including its first regional brand film alongside TBWA\Singapore, as well as the launch of multiple short drama series in its regional markets to celebrate Carro’s eighth anniversary.
Teo also added, “We should be marching to the beat of our own drum. Trends come and go, especially in the digital space and social media. As APAC’s largest online used car ecosystem and market leader, I believe we should always explore and do what works for us.”
When asked about the particular marketing challenges for the used car industry in the region, she explained that with more platforms bringing more unique selling points (USPs), there is a challenge for brands in the space to come up with new ways to stand out from diverse markets.
“More and more used car marketplaces are starting to communicate the same USPs. Soon, there will appear to have no clear point of differentiation to the consumers. This is a unique challenge because we’ll need to find a way to stand out and help customers know us, like us, and choose us,” she stated.
Part of Carro’s selling point is the assurance to its customers that the pre-owned cars are certified by the company’s in-house inspectors, making sure that the cars pass up as good as new.
“We’ll start to see more offering of certified pre-owned cars. As the industry leader, our focus remains on offering Carro Certified cars that are as good as new. As trust and transparency continue to be the main thrust of the industry, we will continue to ensure that our customers’ trust sit at the heart of all that we do. Beyond just Marketing, the company will continue to invest in technology, data, and talent that go into building quality products and a Carro Certified car that is as good as new,” she concluded.
