myTukar expands into untapped east malaysian used car market

– myTukar to support digitalization of used car industry in East Malaysia bytransforming the traditional way of selling used cars.

myTukar Sdn Bhd, Malaysia’sfastest-growing onlineusedcar trading platform today announcedits expansion into East Malaysia with the first twomyTukar inspection hubslocated atKuching,Sarawakand Kota Kinabalu, Sabah.This marksa significant milestone in myTukar’shyper-growth journeytowards transforming the used carindustry in Malaysia through digitalization.
Sales of used cars have been on a positive growth especially during Q3 of 2020, despite theongoingpandemic. According to MAA (Malaysian Automotive Association), used car salesgrew by 100% in the first six months of 2020. The blanket loan moratorium and othergovernment financial incentives, as well as consumers turning to private car ownership todecrease time spent on public transporthavehelped spur salesthroughout 2020.
Fong Hon Sum, CEO of myTukar said, “With the increased demand for used carsnationwide,we have also observed an increase in online trading among East Malaysians.Currently, onlyan estimated26% of used car dealers in East Malaysia are conductingtheir transactionsonline.AsmyTukar’s mission isto simplifythe process of selling usedcars throughdigitalizationwithin ouronlineplatform,webelieve that it isthe right time to enter thecurrentlyuntapped East Malaysianmarket.The innovative myTukarplatform is able to provide theneedful support to used car dealers in East Malaysia, ultimately helping to increase sales forthe dealers through a speedy, efficient and cost-effectiveecosystem.”

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