Bangkok, Thailand – In complementing the Thai Government’s “Thailand 4.0” initiatives, leading vehicle auctioneer and remarketer, Motto Auction (Thailand) Co., Ltd. unveiled its new subsidiary, MottoRaka (Thailand) Co., Ltd., with the debut of the first ever Thai-language AI-driven data website, www.mottoraka.com, to underline its quest to bring the country’s auto industry into the digital era.
Having established its business 18 years ago, Motto Auction is already regarded as the leader in providing the most advanced auction technology in Thailand. Currently offering auction facilities online and on-site in Bangkok, Chiang Mai, Phitsanulok and Nakhon Ratchasima, Motto Auction (Thailand) generates over Baht 6 billion annually from sales of second-hand vehicles and related businesses including, logistics, dealer and vehicle inspection services.
“Although we had already introduced real-time online selling technologies for second-hand vehicles several years ago, we have now further developed that data to offer and ensure trustworthy depreciation values for trading second-hand cars in Thailand. I am confident that our MottoRaka.com website will be the first step in transforming and setting a new benchmark in Thailand’s automotive industry. We are thrilled to be leading the digital transformation of this vital sector” said Mr. Simon Moran, Founder & CEO of both Motto Auction and MottoRaka companies.
Bringing the highest level of reliability, convenience and state-of-the-art technology to the second-hand vehicle market in Thailand, it is envisioned that this new Thai-language website will prove to be a boon for everyone. Offering real-time information covering over 30,000 models with complete details of sub-models, mileage, condition and retail prices of vehicles, the MottoRaka.com website will provide car buyers and sellers customized real-time vehicle data evaluation and analysis. Therefore, the depreciation value results will be transparent, fair and up-to-date.
“As an aftermath of the Coronavirus, health and survival will become the 'new norm’ priorities of people’s lives. As one of the major results of the nearly 3-month Stay@Home measures, consumers have become increasingly savvy in using digital search engines and e-commerce so we believe this is an opportune time to introduce our new website to imprint some meaningful and effective solutions that are missing from the market. In addition, with a GDP that is expected to contract around 6% with nearly 10 million unemployed and low demand and purchasing power this year, people will be inclined to primarily look to second-hand vehicles either for establishing personal livelihood, reducing their costs or to maintain social distancing rather than take public transport around the country whilst no vaccine against the virus is yet available”, remarked Mr. Moran.
In addition to offering a market price guide, the website also acts as a car marketplace platform, providing classified advertisement space for those who wish to buy or sell their cars, updated automotive news, in-depth car reviews and related local and international lifestyle trends. As such, the MottoRaka website will not only benefit consumers directly, but it will also benefit other related businesses such as automotive manufacturers, car dealers, banks and financial institutions and insurance companies as they can utilize the available data to not only check the value of any type of vehicles before trading-in, buying or selling, but also to enhance their own businesses more effectively.
In 2019, the second-hand vehicle market was valued at approximately Baht 140 billion with an expectation to grow by 5 - 7% this year. However, due to the pandemic, the market this year is estimated to decrease by about 15 - 25%, which is still more optimistic compared with the new car segment which may see a decline of 30 - 40%.