‘Now You Know, Thanks to Data’ is a 4-part content series exploring different themes of e-commerce, consumer behavior, buying and selling trends. This third part explores the consumer behavior of car sellers and buyers who use online platforms for all car related activities.
E-commerce has become the norm for all kinds of goods and services — houses, electrical items, electronics, groceries — and recently auto sales have increasingly joined the list.
The number of consumers who use online sources to browse and equip themselves with information regarding a potential car purchase have increased.
A recent survey conducted by Malaysia-based market research company, Insightz Club*, revealed that over 70% of consumers rely more on online platforms over offline platforms when looking to buy a car. This finding emphasized the rate at which online platforms are replacing traditional avenues such as car dealerships.
The survey also found that 54% of respondents in total chose Mudah.my as their top source for car-related information and 52% admitted that they’ve used Mudah.my in the past 6 months to source the information.
While exploring the profile of Mudah.my users, the findings revealed that the demographic of car sellers and buyers were skewed towards 25 – 34 years old male respondents who earned an average of RM 5,000 and below.
To further understand the reasons behind the respondents’ preference for Mudah.my, a brand diagnostic was conducted. For this part of the survey, respondents were asked to choose the brand or platform they are most likely to consider, most likely to recommend, ‘affinity’ and ‘meets my needs’.
The results revealed that Mudah.my consistently topped the rank among car sellers and car buyers in all metrics and is seen as a brand they love; a brand that understands and meets their needs; and a brand that they would consider and recommend.
As Malaysia’s No.1 car marketplace, on a monthly basis, Mudah.my sees 7.5 Million unique visitors a month.
Aware of its responsibility as the most trusted car marketplace, Mudah.my focuses on providing the best experience for car buyers and sellers.
Up until recently, Mudah.my used to verify the registration of cars for sale against the vehicle registration card, it has now gone a step further by introducing the Mudah Vehicle Inspection & Protection (mVIP) program.
Through this program, Mudah.my is setting the standards for the new normal when it comes to buying and selling cars, by removing any uncertainty of the condition of the car that is being bought or sold.
“The true condition of the car has been the biggest problem for buyers and sellers when it comes to used vehicles (and) by introducing mVIP, we are creating a transparent and trusted car marketplace by providing an unbiased report on the true condition of the vehicle being bought or sold”, said CEO of Mudah.my, Gaurav Bhasin.
“By the end of the year we will have the largest selection of inspected cars and used cars with warranty in the country”, Gaurav added.
To execute the mVIP program, Mudah.my has partnered with MUV to conduct a comprehensive 180 point inspection of the vehicle posted for sale on Mudah.my. The inspection report will then be made available to both the car seller and potential buyer, to assist them in their decision making.
Together, Mudah.my and MUV believe in the use of technology to make selling and buying used cars easy and transparent. Mudah.my currently has over 7.5million monthly unique visitors and over 60,000 cars for sale. With the addition of MUV’s network of trained inspectors to generate online reports, Mudah.my’s mVIP will be able to bring Malaysians the largest selection of used cars that have been inspected with warranty in Malaysia.
“Understanding the true condition of a used car has been the biggest problem for buyers and sellers. By introducing mVIP, we are creating a transparent and trusted car marketplace by providing an unbiased report on the true condition of the vehicle being bought. For even greater peace of mind, we are also able to offer Extended Warranty on the inspected vehicles through the mVIP program,” Gaurav added further.
“For even greater peace of mind, buyers of selected vehicles will be able to purchase a Protection plan that covers for one year and we aim to have the largest selection of inspected and used cars with warranty in Malaysia by the end of 2021”, Gaurav explained.
Andy Teh, CEO of MUV, said, “We are very excited to be working with Mudah.my through this strategic alliance and to provide them with our expertise in used vehicle inspections through our nationwide network of inspection centers and hubs.”
“If the seller is not able to come to our centers for the inspection, we are also able to send our team to their doorstep to make the process of buying and selling their used vehicles as convenient as possible”, Andy added.
“MUV’s comprehensive 180-point inspection report of vehicles has been relied upon for over RM1.2 billion worth of vehicle transactions on MUV’s online bidding platform. The reports are widely accepted as the gold standard used by dealers throughout the country to help them trade used vehicles without being physically present to look at the vehicles beforehand”, Andy concluded.
Andy Teh, CEO of MUV, said, “We are very excited to be working with Mudah.my through this strategic alliance and to provide them with our expertise in used vehicle inspections through our nationwide network of inspection centers and hubs. If the seller is not able to come to our centers for the inspection, we are also able to send our team to their doorstep to make the process of buying and selling their used vehicles as convenient as possible.”
“MUV’s comprehensive 180-point inspection report of vehicles has been relied upon for over RM1.2 billion worth of vehicle transactions on MUV’s online bidding platform. The reports are widely accepted as the gold standard used by dealers throughout the country to help them trade used vehicles without being physically present to look at the vehicles beforehand”, Andy added.
mVIP is the first of many programs that will be offered through this strategic alliance in between the two automotive industry marketplace veterans.
In addition to address one of the pain points of trying to sell a car by yourself in Malaysia, Mudah.my and MUV will also offer an end-to-end facilitation service that includes the ownership transfer (JPJ), car inspection (PUSPAKOM) and financing arrangements for a small fixed fee.
This eliminates the need for car owners to engage the services of (quite often expensive) middlemen when they are unfamiliar with the process, and especially if financing is required by their potential buyer – which is a major barrier for selling through the private market in Malaysia.
“Today, Mudah.my is also the best place for car owners to make the most amount of money when selling their car. Car owners get between 20% to 40% more when they sell their car on Mudah.my” said Peter Wong, Head of Mudah Auto.
To make selling cars even more convenient, Mudah.my in partnership with MUV, offers an end-to-end facilitation service that include ownership transfer (JPJ), car inspection (PUSPAKOM) and financing arrangement for a fixed fee starting from RM900.
On top of that, the platform has also prepared a simple 5-step guide that walks car sellers through the whole process on how to sell their car on Mudah.my.
Finally, the additional new feature of Mudah.my helps Malaysians calculate the current market value of their car, so that they can make an informed decision on whether to sell their car by themselves or via a 3rd party.
Car owners and buyers can opt to complete their sale and transfer of ownership by just visiting selected MUV centers throughout Malaysia to drop off their vehicle and to pick it up once the name transfer has been completed.
For more information, Malaysians are encouraged to head onto https://www.mudah.my/mvip/ or download the Mudah.my app to browse through the car categories.
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*The survey, which was conducted using 626 Malaysians who use online platforms to sell, buy or browse for products such as new or used cars and new or sub-sales properties, also revealed that Mudah.my is the most popular online platform for all property selling and buying activities. InsightzClub is a new age consumer insights firm that helps consumer brands obtain intelligent insights to make data driven decisions.Mudah.my is a part of the Carousell Group, one of the world’s largest and fastest growing marketplace platforms in Southeast Asia, the platform allows anyone to buy and sell in his or her region simply and conveniently.
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