iMotorbike eyes 8-fold growth in sales, US$10 mln annualised revenue by year-end

Clara D. Flaherty

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By Zufazlin Baharuddin

KUALA LUMPUR, March 17 (Bernama) — iMotorbike, Southeast Asia’s pioneering e-commerce platform for getting and advertising pre-beloved motorbikes, is aiming for an eight-fold development in profits and an annualised earnings of US$10 million (US$1=RM4.19) by yr-stop.

Founder and chief executive officer Gil Carmo mentioned the business has raked in over US$1.2 million in annualised revenue for the seven months interval from August 2021, and believed it can achieve the US$10 million target due to the surge in demand for this two-wheeler market place.

“There are 550 million registered motorbikes in South Asia, with about 10-15 for every cent of transactions between customers and sellers, creating around 80 million transactions every 12 months.

“We also see 7.2 for every cent calendar year-on-yr growth in conditions of registered motorbikes in Southeast Asia in the previous many a long time,” he advised Bernama right now.

iMotorbike has obtained more than US$1.2 million in annualised earnings considering that it changed its enterprise product from a labeled listing web page to an e-commerce system in August 2021 until date.

iMotorbike enables prospects to provide and invest in pre-cherished motorcycles on the system in a quick, secure and stress-free of charge way. It also delivers products and services this kind of as financing and insurance coverage. 

The e-commerce system has a existence in Malaysia and Vietnam where the complete number of registered motorbikes amounted to 16 million and 60 million respectively.

To-day, iMotorbike has 5,000 dealers and 180,000 month-to-month website visitors. 

Moving forward, Carmo said the organization aimed to enhance its technology adaptation to strengthen performance of its expert services.

“We can utilise technological know-how to help us carry out inspection somewhat than do it manually as very well as have Synthetic Intelligence and equipment studying systems whereby it can assist us on the pricing way too,” he claimed.

— BERNAMA



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