Malaysia's Carsome plans to foray into Philippines in 2020, says CEO

Eric Cheng, Co-Founder and CEO of Carsome

Malaysian used car marketplace Carsome wants to enter the Philippines next year, says CEO and co-founder, Eric Cheng. The Gobi Partners-backed company currently operates in four Southeast Asian markets – Indonesia, Singapore, Thailand, and Malaysia.

According to Cheng, Carsome is likely to enter the Philippines via joint ventures with local partners. The Philippines is the fourth largest used car market in the region, clocking 400,000 to 500,000 used car orders per year – volumes similar to its home market of Malaysia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter