KUALA LUMPUR: Southeast Asia’s leading online used car sales service, Carsome, has allocated RM55.5 mil for its recently-launched Carsome Dealer Alliance Support Programme.
In a statement today, it said the programme aimed to create sales and growth opportunities for used car dealers through bonus rewards and credit lines.
CEO and co-founder Eric Cheng said as Malaysia eased the Movement Control Order (MCO), more people would value car ownership out of personal safety but would be wary about their budget.
“This is a great opportunity for used car dealers to tap the growing demand for used private cars,” he said.
His view is substantiated by the Carsome Consumer Survey in April which showed a 76% decrease in the use of ride-sharing services among consumers as they felt safer using their own vehicles and were uncomfortable sharing vehicles with strangers.
“Through the Carsome survey, dealers expressed their need for financial support to sustain their businesses.
“As such, we believe that the programme is timely as a short-term boost to help used car dealers rebuild their businesses and finances,” said Cheng.
Of the RM55.5 mil, RM5 mil would be allocated as bonus rewards for used car dealers when they purchase from Carsome, whereby the more cars they purchase from Carsome, the more cash rewards they would receive.
Additionally, RM50 mil would be allocated for the ‘Ready Credit Line’ where the first 500 applicants would receive a RM100,000 ready credit line to fund the cars purchased from Carsome.
Meanwhile, RM500,000 would be used for advertising support and a customer referral programme to help dealers promote their inventories on Carsome’s online platforms.
Carsome would also reward RM1,000 in cash to Carsome customers if they purchase a used car advertised on Carsome’s online platforms. – May 13, 2020, Bernama
