Jakarta, 01 August 2022 – PT Mitra Pinasthika Mustika Tbk (IDX Ticker: MPMX, the “Company”) delivered business developments in its transportation segment related to several changes in the business processes and restructuring at PT Mitra Pinasthika Mustika Rent (“MPMRent”) as a follow-up after the signing of the strategic partnership between MPMX and CARRO which was carried out on May 31st, 2022.
In order to amplify value for the customer in providing products and services in the automotive market, this includes giving access to a wider selection of quality used cars within the inventory, the two companies present a strategic collaboration that is expected to have a positive impact on stakeholders and the development of the Company’s digital ecosystem.
Automotive Auction Business
MPMRent’s Auction Pool (AUKSI) is a trusted automotive auction pool in Indonesia with a strong performance and continues to show improvement, both in terms of the value of used car sales and the number of bidders.
Capitalizing on the inherent strength of AUKSI, thus CARRO Wholesale, the auction business of CARRO will be merged into AUKSI, including the transfer of the entire network of used car dealers from CARRO Wholesale to AUKSI. AUKSI will also be strengthened by a collection of historical data (big data) such as auction movement, price algorithms, as well as other data and analysis owned by CARRO Wholesale which will be used for the continuous improvement of AUKSI’s business processes. In addition, the online auction system will later be strengthened with CARRO Wholesale’s infrastructure (including digital applications, and backend systems) to improve service quality and an even better online auction experience for customers.
This consolidation is targeted to significantly increase the used car sales volume and AUKSI’s business performance. This is also supported by the plan of opening new AUKSI pools in several big cities by this year.
B2C Business Online Platform OtoDeals
The used retail car sales (B2C) platform OtoDeals, launched by MPMX at the end of 2021 will be combined with the CARRO platform which already has the largest automotive marketplace base with the fastest growth in Southeast Asia.
This strategy also opens wider customer access and greater business potential for MPMX's automotive insurance and financing business with the support of the CARRO ecosystem. Both companies will ensure the proper implementation of this integration while prioritizing the best customer journey for end users who are valuable customers for the Company.
“The combination of MPMX’s network and reach supported by CARRO’s technological expertise will amplify value for customers through a platform on a much larger scale, to provide an end-to-end ecosystem for consumers in Indonesia, including vehicle rentals, automotive auctions, online automotive marketplace, insurance, and financing. This change was made to get the best benefit from the strengths of each company, both in terms of MPMX and CARRO,” said Ivan Hindarko, MPMX Group Chief Operating Officer.
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About PT Mitra Pinasthika Mustika Tbk
PT Mitra Pinasthika Mustika Tbk (“MPMX”) is a leading automotive consumer company in Indonesia, established in 1987 by William Soeryadjaya. MPMX is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group.
MPMX’s vision is to have a positive impact on life through smart mobility and social integration. By collective power, we aim to deliver the most relevant products and services to the people in our ecosystems through innovation. Our businesses offer a broad spectrum of mobility solutions, from retailing and distributing motorcycles and cars to after-market parts, transportation, and financial services.
