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Hi there,
It’s been raining almost every day lately in Jakarta, which is making it hard to leave the house without using a car.
As a result, I’ve been checking out some models, but looking at their prices, it seems I’ll have to rethink buying a new one. Maybe a used car could be the best choice.
In Southeast Asia, the digital revolution has come to the used-car space, with platforms like Carro and Carsome letting users purchase a car directly with their electronic devices. In this week’s Big Story, my colleague Nikita explores a rising player in the space: Carousell Auto, which has become a big bet for the Singapore-based secondhand marketplace.
Launched after Carousell saw large demand for used cars among its customers, Carousell Auto has since accounted for a third of the company’s revenue as of April 2021. Will this be a game-changer for the Singapore-based firm as it eyes an IPO this year? Or will it face stiff competition from existing players?
In addition, I look at the slowdown in China’s community group-buying space. Will this have an impact on similar players in Indonesia, who are still in their early stages?
More on this in today’s Hot Take.
— Jofie
THE BIG STORY
Behind Carousell’s bid for the $61b used car space in SEA
Image credit: Timmy Loen
Carousell’s autos vertical accounted for a third of the Group’s revenue last year. Can it continue to be a bet-worthy horse?
THE HOT TAKE
China’s group-buying space is in trouble. Should Indonesian players worry?
NEWS YOU SHOULD KNOW
FYI
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