Rocket Internet’s Carmudi moves into Indonesia, Philippines

  • Entering at a time when both countries’ automotive sectors are thriving, says Rocket Internet
  • Comes after German company rebranded its automotive classifieds business last October

Rocket Internet’s Carmudi moves into Indonesia, PhilippinesROCKET Internet’s automotive classifieds company Carmudi, already present in Myanmar, has launched in Indonesia and the Philippines as part of its expansion into South-East Asia, saying the two countries offer potential for economic growth.
 
Rocket Internet rebranded its automotive classifieds business into ‘Carmudi’ last October, bringing into the fold Carmido (in Nigeria), Ubiauto (Latin America) and Motors (Asia).
 
The site enables customers to find or sell their cars, motorcycles or commercial vehicles online. Vehicle dealers and agents get an online presence through a personalised webpage.
 
In a statement, Rocket Internet said Carmudi is entering Indonesia and the Philippines at a time when the countries’ automotive sectors are thriving.
 
The Association of Indonesian Automotive Manufacturers (Gaikindo) estimates Indonesia's car sales will increase by 10% this year, hitting a record high of 1.3 million sold vehicles. Growth is expected to be strongest in the Jakarta region, Indonesia's most densely populated area, the German company said.
 
The total number of vehicles on the country’s roads has more than quadrupled in a decade to reach 85 million in 2011, it added.
 
In the Philippines, the Oxford Business Group reported that car sales jumped up by 46.3% between August 2012 and August 2013/
 
“With rapid growth in the automotive industry in both the Philippines and Indonesia, our move into these markets is a logical step in our expansion strategy,” said Carmudi cofounder Stefan Haubold.
 
“Indonesians and Filipinos are driving more cars, trucks and motorbikes than ever, which means the demand is there for a high-quality classifieds platform that meets the needs of both buyers and sellers.
 
Carmudi Indonesia and Carmudi Philippines are on track to become our major markets in Asia. Given these facts paired with the increasing adoption of online services in the whole of South-East Asia, we expect to see a rapid transition from a more traditional offline market to a thriving online community, benefiting both buyers and sellers,” he added.
 
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