iCar Asia Limited celebrates 5 years of success

September 13th, 2017

Capture (Pictured from left: Mr. Luke Elliott, Mr. Patrick Grove, Mr. Ken Tsurumaru) Monday, iCar Asia Limited, the owner of ASEAN’s largest network of automotive websites celebrated its 5th year IPO anniversary last week. Exactly 5 years ago today, iCar Asia Limited was listed on the Australian Securities Exchange (ASX) by the company’s co-founder and then Chairman, Patrick Grove. Operating in the world’s 5th largest automotive market serving a population of more than 600 million, iCar Asia Ltd currently owns 7 automotive portals across 3 countries – Malaysia, Thailand and Indonesia. These 3 countries stand strong as the largest automotive markets across the ASEAN region. Capture (Pictured: iCar Asia’s key milestones from 2012-2016) iCar Asia has grown from having 700 thousand monthly users back in early 2013 to 8.6 million currently and grown the total car listings from 64,000 to over 500,000, fulfilling the mission to connect car buyers and sellers through their automotive journey. The company reaches out to all automotive brands operating in Malaysia, Indonesia and Thailand, working closely with each automotive brands and dealerships. In those short 5 years, iCar Asia has successfully launched consumer and dealer apps in each country, moved to a single web platform, added automotive content sites in each country and is now the number 1 automotive classifieds portal in the region. Co-founder of iCar Asia, Patrick Grove, commented “It’s been an amazing journey to watch the transformation and expansion of iCar Asia across Southeast Asia. I’m extremely proud of the team to have achieved so much in just 5 years. They have shown phenomenal growth and we are so excited about the growth strategies in place for the business.” In conjunction with their 5 year anniversary, iCar Asia is getting ready to launch a completely fresh new car section and a chatbot named Ari, in its mission to assist new car buyers in getting the most relevant information and the best deals in town. These new developments are a result of the company’s commitment towards constantly finding new ways to improve its offering to its customers, never wanting to stand still. CEO of iCar Asia Ltd, Hamish Stone said: “iCar Asia has come a long way in 5 years, to now be the clear market leader in the online automotive space across ASEAN. Our leading position has presented us with an exciting opportunity to expand and strengthen our leadership further in the new car space. The next 5 years will be transformative for the automotive industry in ASEAN, as digital channels become more and more integrated into how businesses operate. iCar Asia is optimally positioned to be at the centre of driving this transformation. We have the right brands, audience and platforms to continue to deliver world class online experience combined with offline events.” Bring on the next 5 years, where iCar Asia will no doubt continue to evolve and innovate to connect car buyers and seller across Southeast Asia.

For more information please contact:
Hamish Stone
Chief Executive Officer
iCar Asia Ltd
Mobile: +6017 473 3778
Email: hamish.stone@icarasia.com
Yee Chin Beng
Chief Financial Officer
iCar Asia Ltd
Mobile: +6012 655 8333
Email: chinbeng.yee@icarasia.com

About iCar Asia Limited (www.icarasia.com)

Listed on the Australia Securities Exchange, iCar Asia (ASX: ICQ) owns and operates ASEAN’s No.1 network of automotive portals. Headquartered in Kuala Lumpur, Malaysia, the company is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand. iCar Asia is continuously working to capitalise on its market-leading positions, with its online properties currently reaching approximately 12million car buyers and sellers in the region every month.

iCar Asia Network of websites: