Blog, News & Press Release

BI Rate Decrease Drives Positive Sentiment for Increasing Car Sales via Leasing

Jakarta, September 26th 2024 – The omnichannel trade listed Company in the sector of used car retail sales (Caroline.id) and auction business (JBA), PT Autopedia Sukses Lestari Tbk (ASLC) is optimistic that sales in 2024 will be able to grow double-digit. This optimism is supported by the continued positive performance of the JBA auction business, the largest used car marketplace in Indonesia, which revenue in the first half of this year grew by 43.7% YoY.

"The increasing performance of the ASLC auction business unit is the result of a shift in public interest who prefer to buy used cars rather than new cars. In addition, the decline in the BI rate has also triggered positive sentiment for car sales through leasing," said Autopedia Sukses Lestari President Director, Jany Candra.

JBA successfully auctioned around 58,000 units of vehicles, both two-wheeled (2W) and four-wheeled (4W) in the First Half 2024, further solidifying JBA's position as a leader in the auction industry with a 40% market share.

In addition to JBA, ASLC's revenue is significantly driven by its Caroline.id business, which features higher ticket items and which contributed IDR 253.5 billion to the Company's revenue in 1H24. JBA followed with IDR 126.5 billion, while the newly established MotoGadai, launched at the end of 2023, contributed IDR 1.7 billion. As MotoGadai continues to expand, it will complement ASLC’s ecosystem by providing quick financing solutions for used car dealer then join as buyer in JBA auction.

"We believe that, in addition to higher sales volume, performance growth can also be obtained because the Company focuses on a sustainable business model, as well as continuing to increase branch productivity and maintain cost efficiency," said Jany Candra.

ASLC itself has various steps to continue to improve performance sustainably, which includes maximizing the digital sales marketing strategy, namely offline to online to offline (O2O2O).

As for JBA, ASLC will maximize the JBA auction house that already exists in almost at all regions of Indonesia, by prioritizing units auctioned and improving platform services to facilitate the buyer's auction process. Additionally, the collaboration of JBA with Caroline.id and MotoGadai will enhance operational efficiency and create a seamless experience for buyers, further supporting ASLC's overall strategy.

In the used car retail sales business, the Company will continue to add Caroline.id outlets in strategic and potential areas. Throughout January-September 2024, ASLC has added 6 new showrooms in Ciledug, Pondok Cabe, Karawang, Tambun, Mampang and Poris. Caroline.id plans to add another showroom to have a total of 18 showrooms by the end of 2024.

Meanwhile, to expand the pawn business through MotoGadai, the Company also plans to continue increasing the number of outlets. It is expected that the increase in outlets will drive the growth of the MotoGadai business cycle, and facilitate working capital financing for used car dealers and/or JBA customers in the used car dealer segment, enabling them to purchase more auctioned vehicles and thereby contributing more significantly to the Company's revenue.

Overall, ASLC projects that revenue growth will grow double digits this year for both vehicle auction business (JBA) and used car retail sales business (Caroline.id) The consolidatd profit is expected to grow double digits as well. "Of course, these targets are always under our monitoring, by continuing to pay attention to global macro conditions," concluded Jany Candra.

***

PT Autopedia Sukses Lestari Tbk at a Glance (“ASLC”)

PT Autopedia Sukses Lestari Tbk (ASLC), which is part of the PT Adi Sarana Armada Tbk (ASSA) Group, is engaged in the business of buying and selling used vehicles and has been listed on the Indonesia Stock Exchange since early 2022. With the vision of becoming the most trusted omnichannel automotive marketplace, Autopedia runs used vehicle buying and selling businesses for B2B, C2C, and B2C. Currently ASLC is the largest marketplace ecosystem in Indonesia for buying and selling used vehicles. In its business ecosystem, Autopedia has two main businesses, namely an auction house called JBA, which can conduct offline and online (hybrid) auction. JBA has 35 branches across Indonesia, making it the largest auction house in Indonesia. Apart from that, ASLC also has an Offline-to-Online-to-Offline (O2O) used car dealer business with the Caroline.id brand, which currently has a total of 14 showrooms. Caroline.id provides benefits to consumers who buy used cars by providing a 7G+ guarantee for 1 year, which covers engine, transmission, air conditioner, brakes, electrical, suspension, and steering. The 7G+ guarantee is designed to ensure the safety and comfort of Caroline.id customers. The Caroline.id showroom point will continue to grow amidst the high potential of the used vehicle buying and selling business in Indonesia.