myTukar renames to Carro in new phase of rebrand

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Malaysian used car ecosystem, myTukar, has officially renamed to Carro. Carro is a Singaporean startup and Southeast Asia's online used car platform. It is currently operating in Singapore, Malaysia, Indonesia, Thailand, Japan and Thailand.

The rename will officially see 'Carro' be incorporated across myTukar's range of products and services, marketing materials and physical signages across Malaysia. The renaming exercise will take across several months, according to the release. The rename signifies a move that will bring more of Carro's technologies, products and services to Malaysian customers, said the company. myTukar kickstarted its first phase of rebranding in 2022 when it changed its corporate look from turquoise and grey to Carro's signature orange.

"myTukar’s renaming exercise marks a huge milestone in our brand integration, and we’re absolutely excited to hit the rest of our goals on our roadmap,” said Carro co-founder and group CEO Aaron Tan.

“We’re profitable as a group, we’re IPO-ready and in a position to list the company as soon as it becomes realistically possible. We’re looking forward to exciting new plans ahead not just for Malaysia, but for the rest of our markets," he added.

Meanwhile, myTukar has grown to become the largest online user car ecosystem in Malaysia, providing retail insurance, financing and after sales services. To date, it has expanded to encompass 11 retail experience centres, 27 inspection centres, 5 workshops and 2 refurbishment centres.

“As part of a global brand, we’re laser focused on driving sustainable growth for the Group while continuing to deliver quality used cars that are as good as new to Malaysians. I look forward to strengthening Carro as a brand within the country," said Carro Malaysia CEO Derrick Eng.

In addition to the rename, Carro has appointed its first ambassador, Malaysian influencer Chan Phei Yong. Back in September, Yong took a Carro certified car on a road trip from Kuala Lumpur to Singapore and back. “Many used car platforms exist, but I chose to partner with Carro because I’m confident in their honest and transparent practices. There are a bunch of exciting campaigns coming up and I can’t wait to share more with everyone," said Chan.

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