myTukar rebrands from turquoise colour scheme to match parent firm Carro

Malaysian-based car bidding platform myTukar has rebranded to share the same corporate identity as its parent company, Carro, a car marketplace based in Singapore. The rebranding includes a new look and colour scheme, moving away from the turquoise and grey scheme used previously. The company's first campaign, powered by Carro, will be launched in the next few weeks.

As part of its rebranding, myTukar aims to make convenience a key aspect of purchasing used cars and will introduce a fleet of flatbed trucks to deliver vehicles directly to customers’ doorsteps. Gigantic orange boxes with a QR code were placed in various Malaysian states during myTukar's automotive fairs.

The QR code was a chance for participants to be win prizes worth up to RM20,000. If more people scanned the code, higher tiered prizes would be revealed. It was first placed in Plentong, Johor Bahru, during its myTukar Auto Fair 2022. Mobile boxes were also seen at Ipoh, Taiping, Alor Setar, Johor and Penang.

The rebranding comes following its recent expansion nationwide. According to myTukar, its transaction volumes grew by 63% for wholesale and 260% for retail, while its net revenue increased by 89%. The rebrand aims to bring myTukar closer to its consumers as well as prepare for further expansion. A+M has reached out to Carro for additional information on the rebranding.

Derrik Eng (pictured middle), CEO of myTukar said: “The improvement to myTukar is beyond rebranding; we have integrated our capabilities, business, data intelligence, and technical knowledge with our parent company, Carro, to bring even better value to our customers.”

Aaron Tan (pictured right), CEO and co-founder of Carro added that Carro’s regional expansion journey started with a goal to transform traditional pre-owned car ownership processes to a more digitalised process. “After our entry into Indonesia and Thailand, our expansion journey brought us here to Malaysia and into a partnership with myTukar, as they share our vision of enhancing the digital experience of the country’s car dealerships, to be the undisputed leader in the region,” he said. He explained that myTukar’s rebranding marks its renewal to its commitment of delivering a world-class experience to customers to ensure a smooth and transparent car ownership process.

In 2019, Carro had invested US$30 million into myTukar to digitise the local used-car dealer industry. With this strategic investment, Carro powered myTukar to digitally enable the traditional used car dealerships across Malaysia, boost inter-city car sales and help local businesses grow.

Separately, Carro named Katherine Teo is regional head of marketing overseeing Malaysia, Singapore, Thailand and Indonesia last December. She currently oversees the company's brand, digital, social and PR efforts and reports to co-founder and CEO Aaron Tan.

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