MUV, the largest homegrown online car auction services provider, has launched its much anticipated Business-to- Consumer (“B2C”) vertical. Previously, only used car dealers were able to bid for their choice of used cars sold by MUV via its proprietary online auction platform. This latest B2C rollout by the homegrown Malaysian company is part of its larger mission to help local end consumers buy used cars directly via an online to offline platform.
MUV’s innovative “clicks and mortar” combination offers used car buyers the best of both worlds as it relies on technology to remove or significantly reduce the pain points of a currently complicated used car buying process, making the entire experience more transparent and frictionless.
MUV’s new B2C vertical will make life easier for used car buyers by giving choice and control to end consumers. The technology enables consumers to efficiently browse online for a wide variety of vehicles. Each weekly auction that takes place from 2:00PM on Thursday to 5:00PM on Saturday offers more than 60 vehicles for sale, with approximately 20 photographs displayed for each vehicle. Consumers can also book online for a scheduled viewing and test-drive time, an improvement to the traditional process, which is typically done at the convenience of the seller.
The final bidding process is then done entirely online from the comfort of the consumer’s home. The live-bidding system promotes transparency and enables each consumer to bid at his or her preferred price point. MUV’s experienced Sales Advisors will also fully support each buyer nationwide with the processing and documentation of each sale. Successful bidders can drive away with their purchase within 7 working days, once payment has been made.
MUV aims to facilitate the redistribution of used cars to places where there is a demand for them, especially in smaller towns where ride-hailing services are not available. There is still clear economic disparity in the country. For example, by comparing the Road Transport Department-registered cars with the Malaysian population, MUV found that there were 2.2 cars for every man, woman and child in Kuala Lumpur compared to 0.1 cars per person in a place like Perlis. Online car exchange platforms like MUV will solve the problem of geographical distance, allowing consumers living all over the country to buy used cars at better prices.
Distance used to be biggest constraint of the car buying experience in the past as consumers living in smaller towns usually have access to only a few local dealers who do not always offer the best selection at the most affordable prices.
