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Used car e-commerce platform myTukar has announced its entry into East Malaysia by opening its first two inspection hubs there located in Kuching, Sarawak and Kota Kinabalu, Sabah. The company has been aggressively expanding even last year, opening branches in Malacca, Penang, and Ipoh.
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myTukar clearly sees an opportunity despite the ongoing COVID-19 pandemic. It points to a finding by the Malaysian Automotive Association (MAA) that used car sales surged by 100% in the first six months of 2020. Sales have also been buoyed by the blanket loan moratorium and other government financial incentives as well as Malaysians shifting from public transport to private car ownership.