myTukar Archives - MARKETECH APAC

Kuala Lumpur, Malaysia – Malaysian used car ecosystem myTukar Powered by Carro has officially announced that it is rebranding as Carro, signifying a move that will bring more of Carro’s cutting-edge technologies, products, and services to Malaysian customers. It has also tapped social media personality Phei Yong as its first brand ambassador.

This renaming exercise will officially see ‘Carro’ be incorporated across myTukar’s range of products and services, marketing materials and physical signages across Malaysia – a process that will take place across several months.

myTukar earlier kickstarted its first phase of rebranding in June 2022 and changed its corporate look, moving away from its turquoise and grey colour scheme to Carro’s signature orange for its signages and collaterals.

Since myTukar’s founding in 2017 at a shop lot at Glenmarie in 2017, the company has charted impressive milestones, including a US$30m investment from Carro to revolutionise and digitise Malaysia’s high-potential used car industry.

Moreover, myTukar has grown to be the first and largest online used car ecosystem in Malaysia, providing retail insurance, financing and after sales services, and has expanded to encompass 11 Retail Experience Centres, 27 Inspection Centres, 5 workshops and 2 refurbishment centres.

Fong Hon Sum, founder of myTukar and Carro’s CEO of International Marketplace said, “It has always been my dream and goal to transform the used car industry and to push for transparent, honest practices that will benefit our customers. Today, I’m so glad to announce that we achieved exactly that and more.”

He added, “myTukar’s amazing growth couldn’t have been possible without everyone who believed in our ambition and goals, and all the hard work that went into building it up. Now, I’m excited to unlock the potential in this market, and continue to offer unparalleled services to Malaysian drivers and families.”

Meanwhile, Derrick Eng, CEO at Carro Malaysia, commented, “As part of a global brand, we’re laser focused on driving sustainable growth for the Group while continuing to deliver quality used cars that are As Good As New to Malaysians. I look forward to strengthening Carro as a brand within the country.”

He added, “We absolutely look forward to Phei Yong coming on board. With the success of the epic road trip, and Phei Yong’s popularity in Malaysia, we’re sure he’ll be able to bring something unique to the table, and help spread the message that a Carro Certified car is As Good As New.”

Kuala Lumpur, Malaysia – myTukar, the Malaysia-headquartered trade platform for used cars, has recently unveiled a fresh new branding identity with the aim to reflect its strengthened branding and capabilities as part of the regional CARRO network. Ahead of the platform’s revelation on the rebranding, myTukar partnered with content agency Ensemble Worldwide to tease and build momentum around the launch through the #BetterTukar campaign.

The teaser campaign featured giant orange boxes with QR codes placed in various locations across the country. The unboxing started in Plentong, Johor Bahru during the myTukar 2022 AutoFair, then moved on to the Klang Valley area, and went north to Gurney Plaza, Penang, ending at the myTukar Retail Experience Center in Puchong. Mobile boxes were also seen across the other locations in Ipoh, Taiping, Alor Setar, Johor, and Penang.

Derrick Eng, CEO of myTukar, said, “The improvement to myTukar is beyond rebranding; we have integrated our capabilities, business, data intelligence and technical knowledge with our parent company, CARRO, to bring even better value to our customers. The Ensemble team has helped to present this venture in a brilliant and unconventional way as we look to introduce our rebrand to Malaysians.”

myTukar’s creative rebranding exercise, which includes new looks and colour schemes, is designed to reflect the CARRO parent company’s focused vision and direction to become Asia’s top used car ecosystem in the Southeast and beyond. The company prides itself on the services under its ecosystem, including financing, reconditioning & retail, wholesale & warranty, as well as after-sales maintenance, assuring end customers peace of mind that the cars they get are as good as new.

Norman Tang, creative director of Ensemble Worldwide, commented, “The teaser campaign to get the entire country to unbox is a first of its kind and lent an air of mystery to the campaign. We know Malaysians have been through a lot the [past] 2 years, and we’re at the endemic stage where recessions are looming, we set out to delight our customers with some relevant prizes. The all-new brand appearance of a fresh take in the growing used car industry is just the beginning, with a series of exciting new changes in store for myTukar as part of the CARRO network.”

The giant orange boxes with QR codes allowed lucky participants to stand a chance to win prizes worth up to RM20,000, with higher-tiered prizes revealed with more scans, adding a community element to unlock the best prizes. The teaser campaign also featured a microsite.

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.

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.”