Carro Enhances Hong Kong Presence with Beyond Cars Rebranding

Carro, Southeast Asia’s largest and most profitable online used car platform and parent company of Tukar announced its rebranding of Beyond Cars. It includes a new website interface, logo, and signage. This rebranding follows Carro’s acquisition of Beyond Cars, one of Hong Kong’s leading used car platforms, earlier in March.

With the acquisition and subsequent rebranding, Carro plans to expand its market presence and enhance user experience. Also, by integrating Beyond Cars, Carro aims to strengthen its foothold in Asia, bringing innovative and efficient used car solutions to a broader audience.

Initial rebranding efforts include launching a new website (carro.co) featuring Carro’s signature orange color and updated signage and brand guidelines. The revamped website is designed to streamline the buying, selling, and consignment processes, allowing customers to communicate directly and schedule viewing appointments.

Behind the scenes, the rebranding will incorporate Carro’s extensive data intelligence, machine learning capabilities, and proprietary technologies. These enhancements will improve pricing, inventory management, and inspection processes in Hong Kong. 

“Hong Kongers can look forward to a brand new experience soon,” said Hong Kong CEO Garry Yu. “With Carro’s sophisticated technology and our local market expertise, we are confident in bringing better value and a hassle-free ownership experience to our customers.”

Founded in 2016, Beyond Cars has grown into a comprehensive ecosystem for buying and selling cars, offering consignment services, dealer financing, hire-purchase financing, and insurance services.

Carro aims to accelerate Beyond Cars’ growth, projecting a compound annual growth rate of more than 50% over the next three years. With this acquisition, Carro is now present in seven markets, including Singapore, Malaysia, Indonesia, Thailand, Japan, and Taiwan. Carro co-founder and group CEO Aaron Tan stated, “We see huge potential in Hong Kong and believe that Beyond Cars’ e-commerce strategy aligns perfectly with our business goals.”

Hong Kong’s robust electric vehicle (EV) landscape and Carro’s strong relationships with global EV manufacturers are expected to help the company become a market leader in pre-owned EVs. Carro plans to enhance its existing pricing algorithms, inspection, and servicing processes to cater specifically to the EV market. 

“We are ready to drive Carro’s strategic vision for the future, focusing on accelerating growth through constant innovation and a customer-centric approach,” said Garry Yu, Hong Kong CEO.

Government incentives and the pledge to halt the registration of petrol and hybrid cars by 2035 drive the demand for electric vehicles in Hong Kong. Carro aims to leverage this high EV penetration by improving its end-to-end solutions tailored to EVs. “With our established relationships with global EV manufacturers and capabilities in vehicle inspection and maintenance, we aim to become a trusted choice for consumers seeking pre-owned EVs that are ‘As Good As New,'” stated Carro co-founder and group CEO Aaron Tan.

As part of its rebranding journey, Carro will also focus on building ancillary services in insurtech, financing, and aftersales in Hong Kong. Beyond Cars’ co-founder and CEO Garry Yu and COO Luke Yip will continue to lead the business, integrating Carro’s data-driven platform and technologies, including AI-driven pricing and inventory management. Yu will report directly to Fong Hon Sum, Carro’s CEO of International Marketplace.

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