ASLC Optimistic Car Auctions Will Surpass 38,500 Units this Year, Exceeding 2019 Pre-Pandemic Conditions
By : Nata Kesuma | Tuesday, September 05 2023 - 08:00 IWST
PT Autopedia Sukses Lestari Tbk (ASLC)
INDUSTRY.co.id - Jakarta, PT Autopedia Sukses Lestari Tbk (ASLC), as the first player in Indonesia to implement a hybrid car auction (offline and online) ASLC is optimistic that the volume of four- wheeled vehicles successfully auctioned by its subsidiary, JBA, this year will surpass 38,500 units.
Exceeding the normal auction volume in 2019 of around 380,500 four-wheeled vehicles. This optimism is supported by the fact that economic activity has increased after the COVID-19 pandemic, has also boosted demand for used cars.
The number of vehicles that ASLC has successfully sold through its auctions in 1st Semester 2023 increased by 17.1% YoY to almost 41 thousand units of 2W and 4W. Significantly increased compared to the same period in 2022, where the Company auctioned around 35 thousand units.
Optimism for the recovery of the vehicle auction business is also supported by the hybrid car auction process which has been pioneered by ASLC’s Subsidiary, JBA. Where hybrid auctions have proven to make it easier for customers to be able to take part in auctions anytime and anywhere via the website and mobile app, so they can avoid cornering prices.
In addition, ASLC’s subsidiary in the auction business, JBA also has an integrated inventory management system on the website and mobile app which make it easier for customers to monitor real-time auction activity, control their inventory, and manage the handover of goods via e-BASTK (Minute of Vehicle Handover) to ensure more transparent auction results.
The Company's optimism in targeting an increase in revenue growth is also supported by the trend of high interest rates which encourage more people to hunt for used cars. High interest rates will change people's consumption patterns to look for cheaper products, or for this matter change from new cars to used cars.* In this case, Bank Indonesia's (BI) decision on Thursday (24/08/2023) to hold the benchmark interest rate at 5.75% for seven consecutive months is an indication that the high interest rate will last longer.
Meanwhile, being at the top of mind in the vehicle auction business in Indonesia, ASLC through JBA is one of the first movers in the vehicle auction business. ASLC, which has the largest market share in this business, reaching 40%, already has a very strong brand among consumers, especially used car dealers. Where in this business, gaining the trust of consumers is a key factor determining the success of the auction business.
"Not only through auctions, we will also boost our sales of used cars through all of our related business lines. Because ASLC is the only player in the auction and trading of used vehicles that has the most complete ecosystem, where ASLC has a retail business through Caroline.id and wholesale business through JBA auctions which are aimed at used car dealers, as well as pawnshops business which has obtained an OJK license as of June 2023 and has been operating since July 2023," said the President Director of Autopedia Sukses Lestari, Jany Candra.
As an effort to strengthen the used car ecosystem, Caroline.id also continues to carry out strategies to increase brand awarness and increase customer trust through building new showrooms and also provide a 7G + guarantee for all customers, refer to tagline of Caroline.id which is buying and selling car with guarantee. In the third quarter of 2023, the Company has also opened 3 new branches in Bekasi, Tajur, and Cinere.