KUALA LUMPUR, July 6 — Carsome, South-east Asia’s largest integrated car e-commerce platform, has acquired an equity stake in PT Universal Collection (UC), an offline car and motorcycle auction service company based in Jakarta, Indonesia.
Besides Jakarta, UC has branches in South Tangerang, Bandung, Yogyakarta, and Malang.
“This marks Carsome’s first investment in South-east Asia in 2021, with several strategic investments and major merger and acquisition transactions planned in the near future,” it said in a statement today.
The investment in UC allows Carsome to double its automotive transaction volumes in Indonesia, and brings it step closer to deliver on its vision of building a regional, end-to-end integrated online used car ecosystem for dealers and consumers.
UC transacted close to 30,000 vehicles in financial year 2020, and its suppliers will have access to a wider demand pool through Carsome.
Carsome continues to grow from strength to strength, and as of April 2021, the company recorded over 9,000 used car transactions per month or over 100,000 on an annualised basis.
The company registered an annualised revenue of around US$800 million (RM3.3 billion) across South-east Asia, and is well on track to achieve US$1 billion in revenue this year. — Bernama
