SOCAR, myTukar partner to enhance mobility marketplace
SOCAR has announced a strategic alliance with myTukar to elevate sustainability in Malaysia’s mobility network by expanding the lifespan of cars through myTukar’s efficient trade-in and refurbishment system, the duo look to reduce
the impact of factory emissions from each car manufactured.
Under the strategic partnership, myTukar will facilitate the end-to-end trade-in process, from the initial purchase and paperwork to the refurbishment process and final point of sale. Meanwhile, SOCAR will be selling 140 units of segment B vehicles to myTukar and in turn, buying 150 units of myTukar Certified second-hand vehicle models, such as the Proton X70 and Honda Civic.
Both companies are trying to push for a more circular lifecycle and ecosystem in Malaysia’s used car market. Rather than scrapping perfectly safe and usable vehicles, this collaboration will give older, pre- owned cars a new lease of life. At the same time, SOCAR will be able to sustainably upgrade their fleet of cars and continue to provide comfortable, safe vehicles for rent.
“SOCAR is excited to welcome myTukar as our new partner in elevating sustainability in Malaysia’s mobility sector, set to be achieved through the synergy in this alliance. With steady growth projected in Malaysia’s used car market over the next three years, with a compounded annual growth rate of 10%, SOCAR sees potential in expanding our fleet in collaboration with a trusted automotive ecosystem like myTukar. Through their expertise and uncompromising stance on trust and safety standards, they have given us the confidence to add pre-owned cars into our fleet. This is how, together, we are able to offer sustainable and affordable mobility options,’ says Shylendra Nathan, CEO of SOCAR Mobility Malaysia.
“Older cars have a poor reputation for being ‘gas guzzlers’ that release harmful emissions. But new cars are not necessarily the end game, as the carbon footprint for each new car manufactured is still significant. myTukar is in full support of sustainable mobility solutions, and this partnership aligns with our intent to reduce harmful factory emissions and overall carbon footprint by extending the lifespan of a car. We’d also like to change Malaysians’ perception of pre-owned cars, starting with SOCAR users who will be able to experience for themselves how these cars can be equally safe, trusted and comfortable. That’s because all myTukar Certified cars have undergone a comprehensive 160-point inspection and refurbishment, and are as good as new,” added Derrick Eng, CEO of myTukar.
MyTukar is also committed to making sure SOCAR’s business continuity model runs smoothly, by providing SOCAR with an exclusive servicing package, which includes quick turnaround time and a priority lane. This will ensure minimal downtime and vehicle shortage, and SOCAR users will be able to consistently experience the quality and standards of a myTukar Certified car.