CarSifu, a wholly-owned subsidiary of Star Media Group (SMG) has inked a momentous memorandum of understanding (MOU) with the Federation of Motor & Credit Companies Associations of Malaysia (FMCCAM) to jointly explore collaborative opportunities.
Witnessed by Transport Minister Anthony Loke, the MOU was signed by SMG group chief executive officer Alex Yeow, FMCCAM honorary secretary general Khoo Kah Jin, and ezAuto Asia group managing director Khor Lin Yong. Also present to witness the signing were FMCCAM president Datuk Tony Khor, Public Gold Group Chairman Datuk Wira Louis Ng Chun Hau, eAutoGen Capital Sdn Bhd advisor Tan Sri Richard Koh, and eAuto Sdn Bhd chief executive officer Morvin Tan at HXC Grand Ballroom in conjunction with the Kuala Lumpur & Selangor Car Dealer & Credit Companies Association’s 55th anniversary celebration.
Yeow said that the MOU serves as a starting point to more strategic partnerships between all three parties.
“SMG is one of Malaysia’s leading media organisations and is highly sought after as a credible source of news and up-to-date information. On the other hand, FMCCAM serves as the voice of Malaysia’s independent motor vehicle dealers, providing sales and services to motorists and businesses in Malaysia.
“Through this multi-party collaboration, CarSifu and FMCCAM can leverage on each other’s reach and member base to build a complete ecosystem on all things automotive and provide consumers with end-to-end solutions,” said Yeow.
Yeow explained that when the partnership kicks off, dealers will be able to better connect their businesses to the marketplace, improve vehicle buyers service experience and satisfaction, and eventually provide a hassle-free and smooth buying experience for consumers. He added that consumers are set to enjoy a one-stop platform for all their needs in getting pre-owned cars, ranging from comparison and selection, reliable inspection and quality certification, competitive insurance, loan and extended warranty, seamless transfer and more, all with a peace of mind.
“Together, we can bridge the gap of trust between sellers and buyers, and drive the future of Malaysia’s automotive industry and community forward,” said Yeow.
Established in 1979, FMCCAM pays close attention to instilling confidence in buyers looking to purchase pre-owned vehicles, as well as protecting pre-owned car dealers from associated risks. To date, FMCCAM is made up of nine-member state associations, including 3,500 registered members out of 5,000 independent motor vehicle dealers nationwide.
Tony said, “The pre-owned car market is constantly evolving and the challenges faced by pre-owned car dealers are never the same. International car firms with huge capitals, better resources and online platforms are gaining control of the market in Malaysia and this has affected our supply of vehicles.
“To tackle this challenge, we should focus on offering quality service, before, during and after sales, for the sustainable development of the pre-owned car industry. I’m confident that this collaboration with CarSifu will help FMCCAM and our partners raise the bar in our services and expand our reach to more consumers,” he said.
Providing an example, Tony shared that FMCCAM has partnered with e-AutoGen to provide an attractive extended warranty programme that also helps dealers remain competitive. For as low as RM298 per year, the car is covered in terms of breakdown caused by brakes system, gearbox, and engine for up to 16 years, as long as mileage is below 200,000km.
“With these innovative offerings coupled with the strengths of SMG as a leading media group, we’ll be able to build a one-stop solution platform for buyers through CarSifu. SMG will also allow the pre-owned car industry to foster a more transparent dealership customer experience and ultimately give buyers the assurance they need when making a purchase,” he added.
The other signee for the MOU is ezAuto Asia Sdn Bhd, an online platform which aims to connect all car stakeholders in a transparent and risk-free marketplace, starting with car dealers and end users.