Carsome invests in Indonesia car auction firm, PT Universal Collection
By Digital News Asia July 7, 2021
- Makes first investment in SEA in 2021
- Carsome to double automotive transaction volumes in Indonesia
INTEGRATED car e-commerce platform, Carsome marks its first investment in Southeast Asia in 2021 as it acquires a stake in PT Universal Collection (PT UC), a Jakarta-based offline car and motorcycle auction company.
In a statement, Carsome said investment into PT UC will allow it to double its automotive transaction volumes in Indonesia, bringing the company a step closer to delivering on its vision of building a regional, end-to-end integrated online used car ecosystem for dealers and consumers.
The deal allows Carsome’s dealer partners to enjoy more inventory diversity and broader options through one of Indonesia’s leading auction houses for automobiles.
It also helps Carsome expand its network coverage and access to financial and leasing providers, Carosome said.
Outside of Jakarta, PT UC has branches in South Tangerang, Bandung, Yogyakarta, and Malang.
As part of the investment, Delly Nugraha, country head of Carsome Indonesia, has been appointed as president director of PT Universal Collection.
“The 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,” said Nugraha
“Through PT UC’s access to used car supplies, 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.”
Based on Carsome's consumer survey released in early 2021, interest among Indonesian consumers to buy or sell a used car remains high. At least 64% of Indonesian consumers are interested in purchasing a used car between April and September period, the survey noted.
Moreover, Indonesian consumers are optimistic that their purchasing power will strengthen on the back of more disposable incomes, it added.
The investment into PT UC is timely as Carsome continues expanding into new areas within Indonesia to serve more dealers, consumers and ecosystem partners, whilst strengthening its position as the leading used-car platform in Southeast Asia, Carsome said.
The company continues to see dynamic growth across its Southeast Asian markets, particularly with rising demand for used cars as more consumers opt for private car ownership amid the Covid-19 pandemic, it added.
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