Carmudi continue their rapid global expansion in SEA

Rocket Internet’s Classified Platform move into the Philippines and Indonesia

24 JANUARY 2014
Summary
Jakarta / Manila, January 24th 2014 – Carmudi, the rising classifieds player in the automotive industry in Asia, Africa and Latin America now continue their global expansion in South East Asia (SEA). The next countries on the list: the Philippines and Indonesia, which are known to be the most aspiring markets in SEA in the online realm offering a huge potential for economic growth.

Jakarta / Manila, January 24th 2014 – Carmudi, the rising classifieds player in the automotive industry in Asia, Africa and Latin America now continue their global expansion in South East Asia (SEA). The next countries on the list: the Philippines and Indonesia, which are known to be the most aspiring markets in SEA in the online realm offering a huge potential for economic growth.

Carmudi is entering both markets at a time when the countries’ automotive sectors are thriving. The Association of Indonesian Automotive Manufacturers (Gaikindo) estimates Indonesia's car sales will increase by 10% this year, hitting a record high of 1.3 million sold vehicles. Growth is expected to be strongest in the Jakarta region, Indonesia's most densely populated area. The total number of vehicles on the country’s roads has more than quadrupled in a decade to reach 85 million in 2011. And the picture does not look any different in the Philippines: According to Oxford Business Group car sales jumped up by 46.3% from August 2012 to August 2013, which shows the increasing importance of cars to Filipinos.

Stefan Haubold, co-founder Carmudi: “With rapid growth in the automotive industry in both the Philippines and Indonesia our move into these markets is a logical step in our expansion strategy. Indonesians and Filipinos are driving more cars, trucks and motorbikes than ever, which means the demand is there for a high-quality classifieds platform that meets the needs of both buyers and sellers. Carmudi Indonesia and Carmudi Philippines are on track to become our major markets in Asia. Given these facts paired with the increasing adoption of online services in the whole of SEA, we expect to see a rapid transition from a more traditional offline market to a thriving online community, benefiting both buyers and sellers.”

The vehicle marketplace www.carmudi.com enables customers to easily find or sell their car, motorcycle or commercial vehicle online. At the same time, vehicle dealers and agents get a trusted online presence through a personalized webpage. Carmudi offers diverse vehicle listings, an intuitive website design and high security standards to avoid fraud. The business platform operates under a high level of transparency through professional photos, updated listings, detailed descriptions, reports and rankings for 100% of its vehicles in each market. The Carmudi platform helps sellers manage their inventory in a fast, easy and stress-free way.

About Carmudi

www.carmudi.com was founded in 2013 and is currently available in Bangladesh, Indonesia, Mexico, Myanmar, Nigeria and Pakistan. The vehicle marketplace offers buyers the ideal platform to find cars, motorcycles and commercial vehicles online. For more information please visit www.carmudi.com

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About Rocket Internet

About Rocket Internet

Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.

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