Operating since August last year, the commercial vehicle online marketplace mytruck.my has announced plans to add a ‘truck bidding’ platform as a new feature, which can benefit both truck buyers and sellers.
mytruck.my’s founder and CEO Boo Boon Hoe said that apart from commercial vehicles classified ads, the website will soon offer a“truck bidding” feature specially targeted towards logistics companies and fleet operators.
“There are a lot of fleet operators in the market who have difficulties selling off their old trucks when they need to renew their fleet. Most of the time, they only manage to sell their old trucks one by one and have to pay extra commission to different agents. With this new feature, we believe they could dispose of their old trucks faster and easier.”
The slogan for mytruck.my is ‘Connecting Truck Owners’ and the objective is to help the truck owners and buyers to buy and sell trucks in a more convenient and easy way.
Boo adds “People always think that old trucks have no value when they are fully depreciated. My point of view is that this may not necessarily be true as old trucks still have their value if you can find a buyer. With this upcoming new bidding feature, they can now have the opportunity to advertise their old trucks to a bigger audience and perhaps even sell at higher prices.”
Changing the landscape for truck owners
Boo, who has 13 years experience in selling and buying commercial vehicles, started the idea of mytrucks.my with co-founder Darren Tan. Initially, Darren wanted to sell his car and decided to contact many used car agents. He then realised the gap between the prices he was offered was huge, which led him to think about creating a platform for truck owners and buyers that offers more transparency in prices.
Traditionally, truck dealers can only manage to sell in areas near to their outlets and are hardly able to sell trucks to other states. With this website, truck dealers have the platform to reach out to potential buyers nationwide.
According to COO Ryan Wong, the website currently has 15 companies who have signed up for their yearly package. They can enjoy unlimited classified ads, photography of trucks, data collection and uploads to the website.
Promoting a new website is not an easy task. They are utilising social media, media collaboration and offline marketing such as participating in exhibitions, banners and distributing stickers to create brand awareness.
“The new visitors and repeated visitors rate has increased by 55% and 45% respectively every month.”
Currently, the mytruck.my team has 10 people, and they welcome more people to join their team. Other than that, they are also looking for funding and investors.
The biggest online trucks classified marketplace
As to date, mytruck.my is one of the biggest online truck marketplace in terms of quantity. Currently, this website has more than 2,300 truck listings and 90% of their clients are used truck dealers.
“Our target is to reach 5,000 truck listings by end of 2017. We also hope to expand to other South East Asia countries. We are always open to welcome potential new partners and collaboration.”
Boo said; “We realised that dealers in Johor and Klang Valley accept this new concept easily. Other dealers from other states are more traditional, and they are not familiar with the online classified concept. This is something new for them and we need more time to pursue and educate them that this website can actually help them grow their business.’
Lead developer Teoh Wei Jing said that apart from truck buying, selling and truck bidding, they are also trying to develop other new features such as truck leasing.
Mytruck.my is offering a free 3-month free trial to new users. After that, there are two subscription packages which are a half year package for RM1,900 and a one year package for RM3,500. Each subscription is entitled to unlimited amount of truck listings.
Since July, they have added a ‘request a truck’ feature whereby users can send a request for certain trucks and model.
Other than that, they are collecting information daily on their platform regarding the transactions of trucks in Malaysia, which can be further narrowed down to different states and categories, etc. This data will be available to paid subscribers in the future.
For more information, please visit www.mytruck.my