MyTukar changes brand lane, adopts Carro’s color scheme

MyTukar, a used-car marketplace based in Malaysia, has changed its brand identity to align with the appearance of its parent company, Singapore-based Carro.

The update includes a revised logo and a new color scheme to replace the shade of teal that MyTukar used. It has now adopted an orange color palette, which mirrors Carro’s signature tint.

(From left) MyTukar founder and chairman Fong Hon Sum and company CEO Derrick Eng with Aaron Tan, Carro’s co-founder and chief executive officer / Photo credit: MyTukar

MyTukar also announced that its first Carro-powered campaign will be rolled out in the coming weeks.

Customer service is another area that MyTukar plans to improve. It is eyeing a new fleet of flatbed trucks that will deliver vehicles directly to customers’ homes. In addition, it plans to offer buyers an interest rate that can go as low as 1.88%, along with same-day loan approval and vehicle collection.

As part of its rebranding, MyTukar is hosting an automotive fair at its flagship showroom in Malaysia. It will feature over 1,000 MyTukar-certified pre-owned cars and can accommodate more than 6,000 guests.

See also: Can Cars24 take on Carro, Carsome in SEA?

Founded in 2018 by Fong Hon Sum, MyTukar aims to transform the used-car trading process through its full-stack, digitized platform. Since its inception, the company’s transaction volumes soared by 63% for wholesale and 260% for retail while its net revenue increased by 89%.

A year later, Carro set up shop in Malaysia by investing US$30 million in MyTukar, adding to its list of subsidiaries.

A global chip shortage and deteriorating economic conditions have fueled higher demand for used vehicles in Malaysia. In the first quarter of 2022, demand for pre-owned cars in the country shot up by 8% while prices also rose by 5%.