SINGAPORE - Media OutReach - May 29, 2017 - sgCarMart (SGCM), Singapore's incumbent automotive site, has removed the 6-week time constraint on their consumer second hand car listings in a bid to exponentially raise customer satisfaction in terms of their direct selling experience.
Says Vincent Tan, General Manager and co-founder, "Even though 78% of all cars are sold way before the initial 6 weeks are up, we decided to remove any barriers that might deter a consumer from choosing us. Effectively, we are the market leader based on our reach to car buyers, volume of listings and inserts, thus we strongly believe that our price point is a negligible consideration. This is purely a promise from us to our consumers that we will sell their cars, regardless of how long it takes".
Frequented by 2.6 million visitors who generate over 40 million views every month, the site consistently facilitates the sale of at least used 10 cars per hour. At S$58, the wholly-owned subsidiary of Singapore Press Holdings provides a dedicated webpage, unlimited post changes, security measures such as masking of car plates for potential sellers until the vehicle is sold. More than 1,000 direct owner posts are made on the site each month.
"Based on our Business Intelligence data and correlating it with reports from Land Transport Authority, we can confidently say that in 2016, SGCM handled over 79% of all used car sales in Singapore. We still see room for growth in terms of increasing these transactions and the first step is to set consumer minds at ease that their vehicle transaction is a done deal with us," adds Vivienne Oh, Marketing Manager.
SGCM is also the only online automotive classifieds who offer free settlement of loans, insurance and LTA paperwork, as well as extending a helping hand to consumers who have no idea how to start selling their vehicles online. A potential seller would only need to walk in to their office for a photography session of their vehicle by in-house experts followed by publishing the actual sale listing onsite, at no additional charges.
"We also believe in giving our consumers the best chances for selling their cars. We approve all new used car posts 12 hours or less to minimize waiting time and there are no duplicate vehicles on sale at any one time,", continues Mr Tan. "At this moment, we have more than 10,000 second hand cars on sale and each and every one is unique so buyers can be spoilt for choice. Our clients pay us expecting to sell their cars. We are committed to not stop till we fulfil that expectation.".
About sgCarMart Pte Ltd
Originally a car classifieds service founded in 2004, sgCarMart operates a variety of businesses in Singapore, including vehicle classifieds, a car auction platform, an online marketing site, as well as car loans, insurance and settlement services. Since then, it has been the go-to website for all Singaporean car needs. In September 2014, Land Transport Authority (LTA) appointed sgCarMart to provide online auction services for the sale of their vehicles.
Land Transport Authority, Customer Services Division, 2017. "Monthly Vehicles Statistics". Type and number of vehicles transferred. Accessed April 2017.