Online service portal with a wide range of services to be launched by FMCCAM in a bid to boost car industry, eyeing ASEAN market

KUALA LUMPUR (Sin Chew Daily/ANN) -  Federation of Motor and Credit Companies Associations of Malaysia will be launching online service platform in conjunction with its 40th anniversary celebration in a bid to revive car industry and face challenges in future development.

In conjunction with its 40th anniversary held on 5 October, the Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM) will be launching  online platform to provide a wide range of services including  valuation for vehicle sales, pricing, trading, buying, selling and after-sales support services. 
The online platform which covers online transaction, enhanced big data functions and upgraded professional service which will help to position car industry in the country for future development and eventually aim to cover ASEAN.
FMCCAM will be inviting Transport Minister Anthony Loke as guest of honour for the event.  Representatives of car industry from Malaysia, ASEAN, China and Hong Kong are invited too. 
President of FMCCAM Tony Khor Chong Boon said car industry in the country is facing huge challenge especially in the internet era. Whether the industry can be revived it would depend on how prepared the operators are. 
The dialogue with Sin Chew Daily was made possible with arrangement by corporate communications and business development department of Sin Chew Daily. 
Khor said in order for the industry to survive in the internet and digital era, the association is leading its members and the car industry sector to be prepared for challenges ahead. 
He said in the latest development trend, the association and car industry either switch to other business, transform or close shop.
Fortunately, for many years of maintaining the business model of used car online sales, the big data built since then offer business opportunity now.
Through analysis, tracking and navigation carried out online, more potential buyers can be sourced.
Khor said currently the association has 3,500 members where annual sales revenue hit RM45 billion. The sales also provide banks RM40 billion in loan business while accumulated loan is RM200 billion.

(USD 1 = RM 4.13053)

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