Carsome sets sights on becoming top online platform for used-EVs in Thailand

Siwaphume Lertsansaran, managing director of Carsome Thailand, said at a press conference on Wednesday that he wanted Thailand to be the pilot country in Southeast Asia to serve as an online marketplace for used EVs.

Carsome Thailand conducted a survey of its 200 Thai customers in February 2023. According to the report, 30.2% of respondents planned to purchase an EV within the next year or two, while 23.3% were unsure.

Although 46.5% of respondents said they had no plans to purchase an electric vehicle in the next few years, Siwaphume explained that this was due to a lack of EV infrastructure, particularly charging stations.

The group has not considered purchasing an EV because the vehicle, replacement parts, and battery are still prohibitively expensive, according to the report.

However, the survey results show some encouraging factors for EV car demand in Thailand. Respondents agreed that if the price was reasonable, they would consider purchasing an electric car because it would help them save money on their energy bills and would also be good for the environment.

Siwaphume pointed out that because the EV industry in Thailand had the potential to grow, his company must now take action in order to be the leader of the used-EV market when the time comes.

Carsome’s 2023 roadmap involves the preparation stage for stable EV supply, standard service maintenance, and credit load readiness.

He said the company is looking for more EV entrepreneurs to partner with so that Carsome can have reliable sources of used EVs.

Meanwhile, it intends to educate its service centre on EV care while providing necessary tools and devices.

Carsome also seeks more collaboration with banks to create risk management plans and various loan schemes to meet customers' demand for EVs, he said.

"The time frame is in line with the findings of our customer survey about the decision-making time to purchase EVs. This includes encouraging the electric vehicle ecosystem by providing a platform for used EV buyers who wish to sell their ICE [internal combustion engine]-powered vehicles at a fair price and worry-free,” he said.

He expects next year to be the growth phase for used EVs at Carsome Thailand, as the company should have gathered enough data to tailor which type of used EVs its customers might be looking for.

By 2025, Carsome Thailand would be the market leader in used EVs, offering the most diverse options at the most competitive prices, he said.

Siwaphume expressed optimism in the used-car market as the country transitions to electrification, noting that Carsome's annual year-on-year growth had increased tenfold in 2022.

The company expects to more than double its growth year on year in 2023. It plans to play a critical role in balancing the country's expected increase in stock of used cars as demand for EVs ramps up, he said.

Carsome made its business presence in Thailand in 2017, and since then the company's social media followers have reached 278,0452, making it the largest digital player among startup platforms.

Over 70% of customers have faith in the company and have made an online purchase. In addition, two-thirds of the vehicles listed on the website were reserved within the same month, Siwaphume said.

The fastest time in which a car has ever been booked after being displayed on the website is two minutes.

Carsome, a Malaysian company, claims to be the largest integrated car e-commerce platform in Southeast Asia. Currently, the company operates in Malaysia, Indonesia, Singapore, and Thailand. Its goal is to digitise the used-car segment in the region.

The company now employs over 4,000 people across more than 120 offices and service centres in the region, with approximately 160,000 used-car buyers and sellers using its platform each year and approximately 180 million website visitors.