Through PT Astra Digital Mobil (ADMO), the Japanese automaker Toyota and the Indonesian conglomerate Astra are deepening their strategic alliance and extending their cooperation in the used car market in Indonesia.
In a statement released on Tuesday, Toyota announced that 40 percent of ADMO had been purchased by Toyota Motor Asia (Singapore) Pte. Ltd. (TMA).
A total of $120 million was spent on TMA’s acquisition through the subscription of new shares and the purchase of existing shares.
Astra maintained control over ADMO following this transaction by owning 60% of the company through PT Astra Digital Internasional (ADI).
ADMO, through its subsidiaries, is the owner of OLX.co.id and OLXmobbi. One of the biggest online marketplaces in the nation for classified ads of used goods and services is OLX.co.id.
With more than 30 stores and inspection facilities spread throughout ten major Indonesian cities, OLXmobbi is a used car company that operates on an online to offline model.
“We continuously optimize our core business while actively investing in scalable, high-growth opportunities. The used car market in Indonesia remains largely fragmented, offering vast potential to create value at scale,
“This partnership reinforces our commitment to innovation, accessibility, and delivering trusted mobility solutions to all Indonesians,” stated Astra President Director, Djony Bunarto Tjondro.
Hao Quoc Tien, the deputy chief executive officer of Toyota Motor Asia, stated that Astra is a reliable and established partner of Toyota and that the company is happy to be able to deepen its partnership through this initiative.
“Toyota has a vision of “Mobility for All” and used car and mobility businesses allow us to extend our reach in realizing our vision,
“I am confident that we will be able to continue our over 50 years commitment to contribute to the Indonesian people through this partnership,” he added.
This partnership is another significant step in Astra and Toyota’s ongoing partnership, the statement said.
With the help of Toyota’s technology and wide-ranging network, as well as the extensive automotive ecosystem of Astra Group, ADMO is in a strong position to modernize the used car market and increase access to premium cars, financing, insurance, and aftersales services for Indonesian consumers.
According to the report, the partnership should improve Astra and Toyota’s synergies by making it simpler for consumers to purchase new and used cars through the trade-in program.
