KUALA LUMPUR, July 6: Southeast Asia’s largest integrated car e-commerce platform, Carsome, has just made its first investment for an undisclosed amount on PT Universal Collection – an offline car and motorcycle auction service company based in Jakarta, Indonesia.
In a statement, Carsome among the considerations taken into account in buying into the company which has presence in South Tangerang, Bandung, Yogyakarta, and Malang in Indonesia was that it had a strong sales record – having transacted close to 30,000 vehicles in FY2020 alone.
This investment serves as a strategic move for Carsome to open up more opportunities and networks, and to significantly expand its operations in Indonesia, a key Southeast Asia market for Carsome.
“This investment serves as a strategic move for Carsome to open up more opportunities and networks, and to significantly expand our operations in Indonesia, a key Southeast Asia market for Carsome,” Indonesia country head Delly Nugraha (pictured above) said.
“Through PT UC’s access to used car supplies in the market, Carsome’s dealer partners will enjoy more inventory diversity and broader options.
“PT UC’s suppliers, on the other hand, will be opened to a wider demand pool, broadening their accessibility in the used car market.”
Investment into PT UC would allow Carsome to double its automotive transaction volumes in Indonesia.
Through this expansion, Carsome’s dealer partners will enjoy more inventory diversity and broader options through PT UC, one of Indonesia’s leading auction houses for automobiles and expand its network coverage and access to financial and leasing providers.
“This will make Carsome the largest omnichannel integrated car e-commerce platform in the region, offering full-fledged services for both online and offline transactions with wider coverage. PT UC’s suppliers, meanwhile, will have access to a wider demand pool through Carsome,” he said.
Based on the Carsome Consumer Survey released early this year, interest among Indonesian consumers to buy or sell used cars remained at an all-time high.
Research show that at least 64 per cent of Indonesian consumers are interested in purchasing a used car between April and September this year, with Indonesian consumers optimistic that their purchasing power will strengthen on the back of more disposable incomes.
“Carsome continues to grow from strength to strength – as of April this year, the company is tracking over 9,000 used car transactions per month or over 100,000 on an annualised basis.
“This puts our annualised revenue at around US$800 million and we are on track to achieve US$1 billion revenue for the year,” added Nugraha.