Kuala Lumpur, Malaysia – The digital used car buying and selling company in Malaysia, myTukar, has recently announced a new leadership appointment, promoting current chief operating officer Jeffrey Ong as the new chief executive officer.
The appointment comes after former chief executive officer Feng Hansen’s promotion, who will be assuming the chairman role of myTukar starting in June. Ong will now be leading the company into a new stage of rapid development, driven by the ‘ASEAN Passport Program’ – is a project designed to bolster the company’s position as the market leader in the B2B used car segment across the region, with the aim to onboard more used car dealers – the AI-driven loan indicator system, and the full expansion of the ASEAN commercial space.
Prior to joining myTukar, Ong has previously served as a corporate liquidity expert for six years, designing blueprints for financial service products in APAC. In addition, he has laid the foundation for various cutting-edge digital and physical business units.
Commenting on his new role, Ong said that he is honored to have the opportunity to lead myTukar, and his goal is to become the largest used car platform to help dealers expand the used car market, as well as develop a comprehensive regional car mobility ecosystem, thus turning myTukar into a customer-first used car platform.
He further shared that the company will be introducing more traditional used car dealers through its ‘ASEAN Pass Program’. By leveraging its digital platform and offline infrastructure, Malaysian used car dealers will be able to sell their vehicles abroad or purchase foreign vehicles, promoting ‘quality’ and ‘transparency’ in the purchase process.
“We hope to consolidate myTukar as the first choice in the used car digital market. By strengthening our offline infrastructure, as well as our centralized inventory management and logistics system, we will make the customer’s purchase process as simple as buying daily necessities online,” said Ong.
In April this year, myTukar has launched its first phase of new retail chain openings, to expand its physical purchasing experience with customers across major shopping centers in Klang Valley, namely in Paradigm Mall, Petaling Jaya; One Utama, Petaling Jaya; and MyTOWN Shopping Centre, Kuala Lumpur.
Kuala Lumpur, Malaysia – Used car buying and selling platform myTukar has officially launched in its first phase new retail chain openings to expand its physical purchasing experience with customers.
The first phase launches were made across major shopping centers in Klang Valley, namely in Paradigm Mall, Petaling Jaya; One Utama, Petaling Jaya; and MyTOWN Shopping Centre, Kuala Lumpur.
Together with the ‘myTukar Retail Experience Centres’, the platform has also revamped its retail website which now carries integrated e-commerce features with the aim to provide a completely transparent customer purchasing experience. The new centres will be complete with the brand new retail website.
The myTukar Retail Experience Centres is one of the many initiatives in the platform’s business pipeline to bring a complete car ownership experience to all car buyers.
“This innovative concept is a breakthrough in the used car industry and will be expanded nationwide in the future, thereby supporting the expansion of the used car industry. The brand new purchasing experience launched today is complementing our key collaborations with partners such as Sime Darby Auto Selection, DRB-HICOM, and authorized dealer partners,” said Fong Hon Sum, CEO of myTukar.
At the kiosks, customers can enjoy a 360-degree view of the cars available for sale via touchscreen monitors. They can also trade in and have their used cars inspected while having the opportunity to take the potential new cars for a test drive, where ll can be done with the conveniences and facilities of a shopping mall.
In line with enhancing customer experience, myTukar has also recently announced in December 2020 a new technology that aims to automate and standardize the car inspection process within its platform. It will also utilize features including analyzing images and videos of cars to spot defects such as dents, scratches, and paint deterioration.
Kuala Lumpur, Malaysia – Used car selling platform myTukar and the Malaysian arm of automotive brand Mitsubishi Motors have announced a new partnership, aiming to create new digital customer experiences to the public.
As part of the initial timeline in the partnership, both companies have collaborated in creating Mitsubishi Motor Malaysia’s (MMM) virtual showroom, which offers customers a 360-degree view of the car’s exterior and interior, as well as allows customers to zoom in and out and navigate in every direction. Each of the Mitsubishi vehicles on display has a clickable interactive button to instantly show more information about the car and its key features. Besides a 360-degree view, the online showroom also comes with a gallery which showcases more images of the vehicles at various angles.
Encapsulated within the partnership as well are other digital CX strategies including ‘Test Drive 2U’, which allows customers to test drive a Mitsubishi car from the comfort of their homes through an online booking in the online showroom platform; a booking assist that allows customers to continue their purchase journey online by submitting a booking request form on the online showroom’s website ranging from loan to insurance application; and trade-in assist which allows customers to have the option to request for the car inspection, handover, transfer of ownership and the collection of the sold car to be done at any of the customer’s preferred location to the customer’s convenience.
“In the past year, we’ve seen an unpredictable level of change, because of the new normal and the need to maintain social distancing. The launch of Mitsubishi online showroom is a strong example of MMM’s commitment to deliver a more human-centric experience by encompassing a holistic approach across three key organizational pillars: people, process and technology,” said Tomoyuki Shinnishi, chief executive officer of Mitsubishi.
He added, “We have always believed in creating a walk-through experience and this online showroom is an extension from getting to know the product, test-drive at customer’s convenience, and communication with the dealer to finalize the purchase journey. We want to offer our customers a safe purchase of their Mitsubishi model without the need of leaving their homes.”
For Fong Hon Sum, CEO of myTukar, the collaboration with Mitsubishi Motors means leveraging myTukar’s proprietary technology-enabled platform which provides Mitsubishi Motors with a simplified and transparent valuation to ultimately enhance retail customer experience.
“I strongly believe that this partnership will reinforce our mutual vision of giving customers an innovative and convenient process of purchasing and selling their used cars,” Sum stated.
Mitsubishi Motors has also announced the launch of MITSUBISHI CONNECT mobile application as a continuation of after-sales service through a digital platform. The mobile app offers a range of vehicle-related digital services, allowing Mitsubishi owners to schedule a service appointment with their preferred MMM service centres, keep track of vehicle maintenance history and get reminders for their next car service in an easy and hassle-free manner.
After a challenging year for both brands and consumers, the new year has finally ushered in and one thing remains – brands in the Asia Pacific region continue to innovate and amaze, whether that’s through a new creative campaign, a promising collaboration, or a novel tech that no one has seen before.
Southeast Asia brands start with a bang this year, where five out of five stories for the month’s top stories come from the region. One is a last hurrah from Christmas campaigning in the Philippines, while another comes from a used-car platform in Malaysia. Two Singapore brands also joined forces for a tie-up that would benefit travelers, while a top Singaporean marketing executive came with big news that involved new business ventures. Meanwhile, MARKETECH APAC’s Marketech Expert Up Close also continued to hook readers when it featured the founder of a newly launched esports platform in the Philippines.
Based on Google Analytics from December 16 to January 15, here are the top stories for the month.
Top 5: Lay’s Philippines’ Christmas ad
The Christmas spirit is still hanging over at the beginning of the year as famous chips brand Lay’s in the Philippines bags a spot on this month’s top stories with their recent Christmas campaign.
With currently 4.5 million views on YouTube, the ad used a tongue-in-cheek marketing strategy, presenting an unexpected combo of endorsers to personify the campaign’s message – ‘Double the Holiday Flavor’ – featuring its Classic and Sour Cream & Onion flavor.
The stars of the ad were the country’s long-time top balladeer Jose Mari Chan and comedic social media personality Nico Bolzico. Using a humorous spin-off of Chan’s classic song ‘Christmas in our hearts’, the two duetted together on a concert-type performance, complete with Black tie and a piano.
Top 4: myTukar’s AI car detection technology
News hailing from Malaysia hooked readers this month when its locally-developed used-car platform myTukar revealed that it will be releasing a tech that is a first in the industry – an AI Car Defect Detection system and Car Plate Masking.
The said technology enables the platform to automate and standardize car inspection through analyzing images and videos. Using scalable and deep learning technology, myTukar is able to detect car defects such as dents, scratches and paint deterioration in seconds.
The platform’s Chief Technology Officer David Voo shared to MARKETECH APAC that the inception of the tech came about when a vendor approached the platform with the sample of the AI detection system, where the tech didn’t initially meet its standards, pushing the platform to develop it further to cater to its customers.
COO Jeffrey Ong said, “It will overall reduce the human error and also to be enhancing our inspection efficiency. So what would happen is we would have a very accurate inspection report. This will definitely overall enhance the whole customer experience.”
Top 3: Esports platform KALARO’s founder Jun Lasco
The launch of Filipino-developed esports platform KALARO was likewise featured in the top stories in October last year, and this time we dive deeper into the man that founded the company behind the platform.
In the episode of MARKETECH Expert Up Close, we sat down with Jun Lasco, the founder of The-AsiaGroup.com Inc. to learn more about his inspiring corporate and entrepreneurial journey in the world of tech, and later on in esports.
In the episode, Lasco bared his beginnings, which started out as being a tech executive for some of the biggest brands in the Philippines such as San Miguel Corporation, Ayala Group, and Fujitsu, in line with work that included programming and tech analytics. He also revealed the challenges he met in his early attempt in putting up a company, where three had to be eventually shut down in 2016 due to corporate setbacks.
Now with its rebirth, Jun shared, “Being naive or too naive about business and people is also not good; funding is a must-have during the initial phase of the start-up ventures and friendships sometimes end when there is big money at stake, among many lessons.”
Top 2: Atome and Agoda’s partnership
Amid ongoing travel restrictions in the pandemic, two leading Singapore platforms recently tied up to entice travel-loving consumers. In December, a partnership was announced between booking platform Agoda and installment payment platform Atome, giving travelers an additional option to pay for their accommodations.
Atome, with its famous ‘buy now, pay later’ scheme, continually adds brands and stores on its platform, and the latest partnership enables those planning to travel to have more breathing ground when it comes to financing.
In a conversation with CEO David Chen, he shared that the idea behind the tie-up is that most of the time, people wish to book a certain accommodation but are disheartened at the onset due to higher prices.
He said, “[Buy now, pay later] is an attitude. It’s an aspiration. People want something that’s of good quality to uplift their fulfillment.”
Top 1: AIA Singapore’s Head of Brand builds own communications practice
Our top story of the month is brimming with brilliance and inspiration as insurance company AIA Singapore’s Head of Brand and Corporate Communications Joanna Ong-Ash exits the company to start her own communications practice, Bravery Communications.
Joanna served the company for a decade, being the communications lead for many of its notable programs such as AIA Vitality in 2013, which was then Singapore’s first comprehensive wellness program, and also launching the insurance company’s first-in-market critical illness plan for those with Type II diabetics and pre-diabetics.
Taking into account Joanna’s holistic corporate experience – she brings 20 years of marketing expertise with her, working with financial services companies such as American Express and Mastercard, hence also marking her exit from corporate life.
Of the new communications firm, Joanna shared that she wants to become a reliable partner of brands that may not be as big as others, but have a bold vision and purpose.
Joann said, “Some of these SMEs do not have the ability to go out to big agencies to afford their expertise. Their purpose is so bold, and a lot of them, when they set up their own companies, they want to help others, they want to contribute to [the] community, and do good.”
“Where I come in, I feel like I am the extended arm of their business. When I work with a client, I’m not just working [with them] because I’m a consultant, I am working with a client because I totally believe in the cause and I want to do good together with them,” she added.
Watch the live report of the top stories for the month on our YouTube channel, where we give you exclusive appearances from the newsmakers themselves.
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.
Kuala Lumpur, Malaysia – Used car trading platform myTukar has announced the deployment of its artificial intelligence (AI) driven Car Defect Detection system and Car Plate Masking to its own platform.
The said service, developed via Amazon Web Services (AWS) and a combination of Amazon Rekognition and Amazon SageMaker, allows the platform to analyse images and videos using scalable and deep learning technology. In turn, this then automates and standardizes car inspection and uses AI to detect car defects such as dents, scratches and paint deterioration, while eliminating human error by up to 80%.
“The cutting edge myTukar AI was developed as a result of our passion to digitally transform the used car industry to ultimately benefit our customers and to digitize the industry. myTukar is the first tech company in the used car industry to set up an in-house data science team to provide both system efficacy and customization,” said Fong Hon Sum, CEO of myTukar.
He further added, “However, more than just digitalizing the used car market, the myTukar AI that we are implementing in our business operations today is but a glimpse of what is possible for the entire automotive industry in the near future. With a powerful self-diagnostic tool built on AWS such as myTukar AI, the entire customer experience within the automotive industry can be radically transformed.”
In addition, the AI algorithm also allows to produce car inspection report can be produced in seconds, consequently increasing the overall productivity and efficiency of myTukar’s operations within its 2,000 authorised dealerships.
“Most importantly, with the use of myTukar AI, we are benefiting our customers by strengthening the trust and increasing the transparency of the car inspection process,” Fong added.
The myTukar AI technology is set to roll out Carro Group’s Southeast Asia markets in Singapore, Thailand and Indonesia, a strategy to continuously expand and digitalize car trading for the Southeast Asia Region.
Kuala Lumpur, Malaysia – Local-based used car trading platform myTukar is preparing to open more physical inspection centers in Malaysia by the fourth quarter this year in the cities of Johor Bahru, Kuantan, Batu Pahat, and Seremban.
The endeavor, supported by automotive marketplace CARRO, will follow the three recently opened branches in Malacca, Penang, and Ipoh last September, adding the 2,000 dealerships network in the country, which has seen 23,000 car transactions since the company’s establishment.
In addition, the targeted Johor Bahru opening would be myTukar’s second branch in the said city, and will serve as the company’s Southern Logistics hub.
Each myTukar branch will have the capacity to accommodate three cars at any given time, with a total of up to 300 cars per day that can be served. As cars are given inspection and evaluation within 30 minutes, customers can enjoy free WiFi, refreshments and a comfortable waiting lounge with each branch they visit.
Fong Hon Sum, CEO of myTukar stated the the company’s move towards opening more branches is a significant move since its establishment in 2018, and adds that with their ongoing mission to digitize trading of used cars, it aims to help car dealerships also move towards digitizing their services.
“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 South East Asia Region,” Fong stated.
This new strategy for the company is an addition to the company’s latest partnerships and collaborations this year. Partnerships include financial scheme with financial institution CapBay, digital platform SISMA Auto Glenmarie SELEKT Center, and Sime Darby Auto Selection for inventory management.
“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, driving digital innovation and offering unwavering support to the used car ecosystem,” added Fong.
Petaling Jaya, Malaysia – In its plan to revolutionize the trading experience for its pre-owned car customers, Sime Darby Auto Selection (SDAS), a subsidiary of Sime Darby Motors Malaysia and has partnered Malaysia’s used car trading platform myTukar to boost its customer experience
Sime Darby Auto Selection is a Malaysia-based corporate multi-brand pre-owned car dealer.
The collaboration between SDAS and MyTukar would not only enable SDAS customers to access a wider procurement grid which would present more choices for them, but would also improve transparency and accuracy on every used car transaction.
In addition, SDAS is looking to enhance its inventory management by leveraging myTukar’s big data analytics.
Jeffrey Gan, SimeDarby Motors Malaysia’s managing director for retail and distribution said, “We aim to become the largest and most trusted certified pre-owned car dealer in Malaysia.The digitalised process that Tukar provides ensures that our customers will receive the highest trade-in value, through a seamless and transparent experience for peace of mind in selling their cars and buying used cars”.
Fong Hon Sum, CEO of myTukar said, “myTukar is excited to begin this journey with Sime Darby Auto Selection and we welcome their inspectors onto myTukar’s technology-enabled 2 platform. I strongly believe that this partnership will reinforce our mutual vision of giving customers a seamless and transparent process of purchasing and selling their cars.”
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