Following a successful launch in Indonesia in 2016, India’s CarDekho group continues with its thrust to expand reach across Southeast Asia with its recent acquisition of Carmudi Philippines – an online classifieds site to sell and buy used and new vehicles.
The partnership will pave the way towards further digitalizing the entire Philippine auto ecosystem as CarDekho is focused on building a complete platform of new and used cars in every country it sets its operations in.
Based in Jaipur, the CarDekho group owns and runs CarDekho.com, Gaadi.com, ZigWheels.com, Powerdrift.com, BikeDekho.com, and OTO.com in Indonesia.
With the recent acquisition, CarDekho’s plan is to aggressively focus on building up and digitizing the ecosystem and offer end-to-end solutions to both new- and second-hand car buyers.
In a statement, Umang Kumar, co-founder and president of the CarDekho group, said that they are excited to expand their international footprint and invest in the region.
“Philippines’ underlying macro fundamentals make it an extremely promising market. The market demand for new PVs in the Philippines has grown at a CAGR of 14 percent (from) 2014 to 2018 with new car sales crossing 380,000 units in 2018. We see this growth as a big opportunity to digitize the Philippines’ auto ecosystem and engage with consumers throughout their online car buying journey,” Kumar said.
CarDekho is India’s top full-stack automotive tech company while Carmudi Philippines is the country’s largest classified portal for new and used cars.