Carsome, Southeast Asia’s largest integrated car e-commerce platform, announced that it has acquired an equity stake in PT Universal Collection, a Jakarta-based car and motorcycle offline auction service company.
The announcement did not provide the financial details of the acquisition but Carsome said the deal marks its first investment in Southeast Asia in 2021.
PT Universal Collection provides an offline car and motorcycle auction service for Indonesians who want to buy second-hand vehicles. Last year, the company said it transacted close to 30,000 vehicles. It has branches in South Tangerang, Bandung, Yogyakarta, and Malang.
Carsome said its investment in PT Universal Collection will allow it to double its automotive transaction volumes in Indonesia. Carsome’s dealer partners will also enjoy more inventory diversity and broader options through PT Universal Collection.
Additionally, the deal allows the Malaysian car e-commerce platform to expand its network coverage and access to financial and leading providers, making it the largest omnichannel integrated car e-commerce platform in the region.
As part of the deal, Delly Nugraha, Country Head of Carsome Indonesia, has been appointed as President Director of PT Universal Collection. Nugraha said the investment is a strategic move for Carsome to open up more opportunities and networks and to significantly expand its operation in Indonesia.
“Through PT UC’s access to used car supplies in the market, Carsome’s dealer partners will enjoy more inventory diversity and broader options. PT UC’s suppliers, on the other hand, will be opened to a wider demand pool, broadening their accessibility in the used car market,” Nugraha said.
The investment into the Indonesian firm proves timely as Carsome continues expanding into new areas within Indonesia to serve more dealers, consumers, and ecosystem partners, strengthening its position as the leading used-car platform in Southeast Asia.
As of April 2021, Carsome is tracking over 9,000 used car transactions per month, or over 100,000 on an annualized basis. It has operations across Malaysia, Indonesia, Thailand, and Singapore.
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