myTukar Expands To Sabah And Sarawak
myTukar Expands To Sabah And Sarawak
Jan 13, 2021
myTukar Sdn Bhd has expanded its network to cover East Malaysia with the opening of an inspection hub each in Sabah and Sarawak. Touted as Malaysia’s fastest-growing online used car trading platform, the first two myTukar inspection hubs in East Malaysia are located in Kota Kinabalu, Sabah and Kuching, Sarawak. This expansion of its network is part of its objective to digitalise the used car industry.
Sales of used cars have been on a positive growth especially in the third quarter of 2020, likely as more consumers seek budget-friendly options. According to MAA (Malaysian Automotive Association), used car sales grew by 100% in the first six months of 2020. The blanket loan moratorium and other government financial incentives, as well as consumers turning to private car ownership to decrease time spent in public transport have also helped spur sales throughout 2020.
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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.