iCar Asia Launches “CarListBid.my” A New Bidding Platform For Car Buyers, Sellers & Dealers

CSR / CRM News Public Service Announcement

Our friends over at iCar Asia have been busy! They’ve recently announced the launch of CarlistBid.my, an exciting new platform connecting car sellers to dealers in a safe and trusted environment. Taglined Malaysia’s Most Trusted Car Bidding Platform, CarlistBid.my utilises iCar Asia’s existing database of sellers and buyers, the largest network in the country, with over three million ready sellers and more than three thousand dealers. Following the launch in Malaysia, the platform will be rolled out to iCar Asia’s operations in Thailand and Indonesia.

(L-R) KY Gan, Group Sales Director, iCar Asia, Ng Soo Jin, Managing Director, Regal Valet, Georg Chmiel, Executive Chairman, iCar Asia, Hamish Stone, Chief Executive Officer, iCar Asia, and Yee Chin Beng, Chief Financial Officer, iCar Asia

Along with the launch of the platform, iCar Asia also launched the flagship inspection hub next to Regal Valet Auto Detailing Outlet in Kampung Sungai Penchala. Hamish Stone, Chief Executive Officer of iCar Asia (below), said “The auction business adds a compelling fast and convenient option for private car sellers and fleet owners to sell their cars to an existing base of car dealers. Over a four-month testing period, CarlistBid.my has closed over RM2.1 million in sales within an average of five days per sale completion. We achieved this with a test group of just 100 out of the over 3,000 dealers that already work with Carlist.my, highlighting our ability to scale up this service in the coming months. With a network of approximately 12 million monthly visitors per month that are potential car sellers – plus over 10,000 existing seller accounts and potential auction bidders across the region – iCar Asia is well placed to scale this business up over the coming months,” he added.

CarlistBid.my works in four simple steps; Request, Inspect, Bid, Sold. Sellers need only to submit a request online, anytime and schedule a complimentary car inspection and car valuation service. Once the bidding terms are agreed, the auction will be opened to bidding among certified Carlist.my Trusted Dealers nationwide. Upon acceptance of the best offer, CarlistBid.my staff will assist with the ownership transfer procedures as well as final payment.

“In order to increase efficiency, we have opened our flagship inspection hub here, in Kampung Sungai Penchala, so that sellers can directly bring in their car for inspection. We will be looking to open more inspections hubs around Malaysia in the near future. We strive to provide the most convenient, flexible and above all safest service to our customers. Which is why all our dealers go through a stringent process of verification to ensure that these are serious, reputable dealers. In cases of dispute, we will also step in to mediate the situation to ensure that both our buyers and sellers come out with a mutually beneficial deal. ” said Stone.

Stone concluded: “We expect to follow the launch of this service in Malaysia with launches in Thailand and Indonesia in the coming months. This is another step for iCar Asia in building out its core proposition to consumers and dealers and extending our market leading position as the largest and most trusted automotive portal network in the ASEAN Region.”

For more information on CarlistBid.my, visit www.carlistbid.my

• CarlistBid.my is a car bidding platform for car dealers to buy used cars, utilising iCar Asia’s existing
database of sellers and buyers, the largest network in Malaysia and the ASEAN Region
• Following the launch in Malaysia, the platform will be rolled out in iCar Asia’s operations in Thailand
and Indonesia
• The platform has achieved RM2.1 million worth of sales within a four months test period across the
• This new proposition complements iCar Asia’s core business and provides a new transaction based
revenue stream, which is expected to contribute to the Company’s growth in the second half of 2018

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