myTukar leverages AI and machine learning to become fastest growing online pre-owned car marketplace, hits record revenue of over RM 1 billion

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Kuala Lumpur, 3 May 2021 – myTukar Sdn. Bhd. (the Company), Malaysia’s fastest-growing online pre-owned car marketplace platform announced its Q1 business updates with strong growth momentum for 2021. The Company posted a doubled year-on-year revenue and unit sales record for Q1 2021 with a positive EBITDA run rate and an expected continued profitable growth for the rest of 2021, supported by aggressive customer-centric plans in the pipeline.

Since its establishment in 2018, myTukar’s network of over 2,100 registered dealers and seventeen inspection centres that are open daily have successfully transacted more than 40,000 cars worth over RM1 billion in total value. Offering a unique digital platform with a complete ecosystem to support the pre-owned car industry in Malaysia, myTukar is currently on a hyper-growth trajectory reinforced by its numerous customer-focused initiatives.

Fong Hon Sum, CEO of myTukar said, “The numerous milestones we have achieved reflects the team’s deep passion to transform the pre-owned car industry in Malaysia to improve digital adoption, efficiency, and overall transparency within the industry. We are honoured to have recently spearheaded innovative solutions which transforms the experience and journey for pre-owned car customers”.

Some notable key highlights for myTukar for Q1 of 2021 include:

  • Expansion and opening of seven new myTukar centres nationwide, including in East Malaysia. Today, myTukar boasts a network of seventeen inspection centres that supports customers throughout Malaysia.
  • Launching the Retail Experience Centre located in major malls. Customers can now enjoy a seamless journey when purchasing and selling pre-owned cars in Malaysia.
  • Successfully deploying myTukar AI, a pioneering proprietary autonomous vehicle inspection technology featuring AI-driven Car Defect Detection system and Car Plate Masking.

From pioneering digitalisation for the pre-owned car industry to initiating transformative developments for the industry, myTukar is committed to developing innovative solutions that will benefit the automotive industry as a whole.

For more information on myTukar, visit the interactive consumer website at www.myTukar.com or call 1800-22-5999 to speak to a product genius who will be able to introduce myTukar products and services.