MUV rebrand launch

Tan Chong Group’s used car marketplace MUV has launched its new brand identity and website at its headquarters in Seri Kembangan today. Carrying the tagline “Dare to Move,” the rebranded company opens its selling and auction services to consumers for the first time, after years of dealing exclusively with dealers.

With the new move, MUV promises connected and reengineered processes to change the used vehicle buying and selling experience, as well as to and empower buyers and sellers alike through “symmetrical information, transparency and convenience.”

The company’s services are accessible through iOS and Android apps for business-to-business users as well as its website for consumers, corporations and dealers. Dashboards on these websites and apps provide users with vital information on vehicles such as their inspection reports, mileage, value and ratings. The apps also enable dealers to bid straight from their own smartphones.

Dealers will be able to utilise tools to view, assess and bid for vehicles in real time, with the cars physically available for viewing at the three MUV Xchange hubs – at the HQ here, in Bayan Lepas in Penang and in Johor Jaya. Successful bidders can collect their vehicles within seven working days from their purchase, and the secure bidding process allows for an optimised price discovery process.

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On the other hand, consumers will now be able to sell their vehicles in two ways. If the seller wishes to sell their car immediately, they will be able to take advantage of MUV’s “Quick Sell @ Garage” system to sell directly to MUV quickly and without hassle.

Alternatively, they will also be able to put up their vehicles for auction on the MUV Xchange Platform for dealers to view and bid for them through an open, fair and transparent marketplace – the company claims that this will enable buyers to get the highest possible price for their vehicles. Both options require the consumer to undergo a 30-minute appraisal process to obtain an estimated value.

“The used vehicle industry is ripe for disruption,” said MUV founder Nicholas Tan. “If you look at it, there are billions invested in the new vehicle space and very little in the used vehicle space. We wanted to create a level playing field, a marketplace that brings the openness of information technology with the physical ecosystem of a market place, nationwide.”

The company claims that since it was established in July 2013, it has sold more than RM260 million worth of used vehicles and ran 50 auctions for more than 11,000 vehicles with a hit rate of 75%. The three hubs can collectively house more than 2,000 vehicles and seat 350 buyers.