MyEG launches portal MyMotor to facilitate online vehicle listings and deals

-A +A

PETALING JAYA (June 18): MyEG Services Bhd has launched its new automotive portal MyMotor to serve as a one-stop solution for consumers looking for vehicle listings and deals.

In a statement today, MyEG (fundamental: 2.7; valuation: 1.1) said the portal will be providing a free listing service for vehicle sellers today and is a step up for consumers engaged in the automotive online classifieds market which are filled with portals focused mainly on car listings.

“MyMotor will undertake the search for the best deals, ensure cars listed for sale are verified by a team of motoring experts, and more significantly, provide a comprehensive one-stop solution for all transactions required on a safe and secure platform, utilising the existing framework established by MyEG Services,” it said.

“In this initial stage, MyMotor will be providing a free listing service for car sellers starting today,” it added.

The website is targeted primarily at all car buyers and sellers comprising individual owners, used car dealers as well as new car dealers and salespeople.

MyMotor managing director Philip Ng said the portal serves as a hassle-free online platform that brings both the buyers and sellers of vehicles together.

“It serves as a sales and purchasing assistant, easing the buying and selling transactions for customers,” he said.

“Unlike typical online classified advertising websites, MyMotor will assist the buyer and seller to complete the transaction from start to finish,” he added.

Ng said he believes that MyMotor will radically change the way car sellers and buyers interact.

“We will come to you, assess your vehicle, and help you sell your car at the best price. If you're buying, you will get to choose real cars at real prices from their real owners,” he said.

He said with the continuous changes in consumer behaviour, MyMotor has identified an opportunity in the online marketplace for a one-stop centre where users can buy or sell a car, and manage all transactions including vehicle financing, road tax, insurance and car ownership transfer.

“Backed by Malaysia’s leading e-Government Services provider MyEG Services, we have a solid track record and strong partnerships in place to ensure value-added services that no other online car websites can offer,” he added.

The statement also said in conjunction with the Ramadhan period, the first 50 cars successfully purchased through MyMotor will receive RM3,000 cash back, subject to approved vehicle financing.

The promotion is valid until the end of Ramadhan or for the first 50 cars sold, whichever comes first.

Visit the portal at www.mymotor.my.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)