Malaysia’s digital used car ecosystem, myTukar and Genie Malaysia, have recorded strong sustainable growth.
In a statement, the online used car retailer claimed to have sold nearly 6,000 cars to end-customers, while its wholesale business has sold over 100,000 cars worth over US$659,000 million via its 2,600-dealership network despite having only started its retail started in 2021.
Chairman and founder of myTukar Fong Hon Sum said he started myTukar to change and revolutionise the used car industry in Malaysia. The companies claimed that during the pandemic, their strong financials not only allowed them to sustain their headcount, but also saw sizable expansion across the board from 175 to 1,300 local employees.
Genie Malaysia claimed it is also on track to becoming the fastest growing used car fintech provider in the country, as it celebrates its first anniversary of its operations. CEO of Genie Malaysia, Simon Chan said, “We have been able to make lending more credit-worthy and easier for ordinary people who have genuine needs to own cars.
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