Grab rolls out new car marketplace offering new and pre-owned vehicles

More than 40 cars are listed on the platform currently

Car shoppers in Singapore now have a fresh option to browse new and used vehicles, following the launch of Grab’s online car marketplace on Sep 9.

At the time of writing, there were more than 40 cars listed on the website, including used ones belonging to dealerships such as SG Car Choice and CarTimes Automobile. Some also belong to Grab’s rental arm, GrabRentals.

Used cars are priced between S$11,800 for a Mazda 3 Sedan with eight months left on its certificate of entitlement and S$204,997 for a Toyota Alphard Hybrid with seven years left.

On the other hand, all of the over 20 new cars listed are either electric or hybrid vehicles. These include models such as the BYD Seal 6 DM-i plug-in hybrid, Dongfeng Box Electric Essential and Proton e.Mas 7 Electric, as well as the Hyundai Kona Hybrid.

Those looking to list their vehicles for sale can reach out to the company via email.

Some of the motor dealers who are listed on the platform also supply cars to Grab’s private-hire and taxi operations.

A spokesperson for Volt Auto, the authorised distributor of Dongfeng electric vehicles (EVs), told The Straits Times that the company did not have to pay to list its cars on the website. The dealer views the marketplace as a fresh avenue to reach customers, on top of its existing marketing efforts.

Ng Choon Wee, commercial director of Komoco Motors, the Hyundai distributor, also told the publication that there are no sales targets set for its participation in the marketplace at the moment.

In a press statement on Sep 9, Grab said that the Car Marketplace was launched to simplify vehicle sourcing, adding that the marketplace will offer “more pathways” for drivers looking to own EVs. More comprehensive vehicle data, including EV-specific diagnostics, may be added to listings belonging to GrabRentals.

The website also advertises the services of digital bank GXS AutoLoan, which is backed by Grab Holdings and telco Singtel.

When asked whether buyers need to take out loans from GXS to finance their purchases from the marketplace, the firm said GXS AutoLoan is “one of the financing options” available to its private-hire drivers, who, according to the GXS AutoLoan webpage, can finance the entire cost of their private-hire car through the scheme.

Beyond ride-hailing and taxi services, Grab also offers food and grocery delivery and has integrated content from third-party brands that lets users buy eSIMs, unlock shared bicycles, or book a bus ride to Malaysia.

Featured Image Credit: Screengrab by Vulcan Post