Carro, myTukar’s parent company and Southeast Asia’s largest and most profitable online used car platform, has acquired Beyond Cars, one of the leading used car platforms in Hong Kong.
With Hong Kong under its belt, Carro is now present in a total of seven markets, including Singapore, Malaysia, Indonesia, Thailand, Japan and Taiwan. Hong Kong is also seeing strong demand and hype in electric vehicles, partially driven by the government’s waivers and its pledge that the registration of petrol cars, including hybrids, will not be accepted from 2035.
Beyond Cars’ co-founder and CEO Garry Yu and COO Luke Yip will continue to helm the business with the team in Hong Kong, and integrate Carro’s data-driven platform and its full suite of technologies, including proprietary technologies and artificial intelligence capabilities across pricing, inventory management, and inspection process. Yu will report directly to Fong Hon Sum, Carro’s CEO of International Marketplace.