The site will offer information on all car models offered in the country and will enable car buyers to search for different car brands. It will also offer information on financing options and roadside assistance information as well. Presently, the portal claims to have 1,236 car dealers listed across 159 cities and 33 brands.
According to the Cardekho, both Malaysia and Thailand have shown a constant GDP growth, which exceeds 2.5 % and a per capita income greater than $6500 that hints towards a probable 10% increase in the car sales over the next 5-6 years in both the Asian countries, the company said in a statement. “This certainly presents optimal condition for developing an efficient system that can make car buying and selling process simpler and provide the consumer with complete control over his deal.”
Mohit Yadav, CEO, Asia-Pacific at CarBay, said, “Our vision is to make the complete car buying and selling process simpler and put consumers in absolute control of this otherwise overwhelming process. We have launched some innovative products and tools in India that will be very useful in Malaysia and Thailand as well because the markets are very similar. We have also developed CRM tools for dealers that will provide better consumer experience, increase efficiency & overall dealer profitability.”
Valued at about $300 Mn, CarDekho had raised around $48 Mn from Hillhouse Capital and Tybourne Capital and has also raised undisclosed funding from Ratan Tata . Girnar Software Pvt. Ltd, which runs the automobile listings website CarDekho.com has been aggressive for over an year. Recently, HDFC Bank picked up a minority stake close to 1% in the portal. Also, Cardekho acquired price comparison site and intelligent shopping engine BuyingIQ.com and Ibibo group owned Gaadi.com.
Another Indian company that went global this week was online bus ticketing startup RedBus, which rolled out its services in Singapore and Malaysia.