iCar Asia Launches Car Auction Business in Malaysia

iCar Asia

Australia-listed iCar Asia, owner of a network of automotive portals in Malaysia, Thailand and Indonesia, announced the launch of CarlistBid.my, a new platform connecting car sellers to dealers in a safe and trusted environment.

Taglined Malaysia’s Most Trusted Car Bidding Platform, CarlistBid.my utilises iCar Asia’s existing database of sellers and buyers, the largest network in the country, with over three million ready sellers and more than three thousand dealers.

Following the launch in Malaysia, the platform will be rolled out to iCar Asia’s operations in Thailand and Indonesia.

Along with the launch of the platform, iCar Asia also launched the flagship inspection hub next to Regal Valet Auto Detailing Outlet in Kampung Sungai Penchala.

Hamish Stone, Chief Executive Officer of iCar Asia, said “The auction business adds a compelling fast and convenient option for private car sellers and fleet owners to sell their cars to an existing base of car dealers.”

CarlistBid.my works in four steps; Request, Inspect, Bid, Sold. Sellers need only to submit a request online, anytime and schedule a complimentary car inspection and car valuation service.

Once the bidding terms are agreed, the auction will be opened to bidding among certified Carlist.my Trusted Dealers nationwide. Upon acceptance of the best offer, CarlistBid.my staff will assist with the ownership transfer procedures as well as final payment.

“In order to increase efficiency, we have opened our flagship inspection hub here, in Kampung Sungai Penchala, so that sellers can directly bring in their car for inspection. We will be looking to open more inspections hubs around Malaysia in the near future. We strive to provide the most convenient, flexible and above all safest service to our customers,” said Stone.

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Listed on the Australia Securities Exchange, iCar Asia (ASX: ICQ) owns and operates ASEAN’s No.1 network of automotive portals. Headquartered in Kuala Lumpur, Malaysia, the company is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand.

iCar Asia is continuously working to capitalize on its market-leading positions, with its online properties currently reaching approximately 12 million car buyers and sellers in the region.

iCar Asia reported its highest ever quarterly cash receipts in the second quarter of 2018 at a total of A$3.21 million. The company also recorded a 45% increase in total audience, with approximately 12 million unique visitors in the month of June 2018 and 27% increase in total leads, with 0.8 million leads in June 2018. – BusinessNewsAsia.com