Despite the used car market facing difficulties due to loss of stock value due to the NAP as well as difficulties in getting second hand car loans, UMW Toyota is confident of it’s used car division TopMark contributing at least 5% towards total revenue this year. TopMark mainly handles used Toyotas as well as cars which are traded in when buyers purchase a new Toyota.
UMW Toyota plans to invest close to RM110 million over the next 4 years to open 17 new TopMark centers, with 4 of them expected to open this year. UMW Toyota currently has 3 TopMark centers, in Petaling Jaya, Butterworth and Johor Bahru. The 4 new centers this year will be based in Cheras, Selayang, Seberang Prai, and Sungai Petani.
TopMark handled 9,000 trade-in cars last year, and 5,000 cars to date this year. This figure is expected to hit 12,000 by year end, and 40,000 by 2010 with a total of 20 TopMark centers.