iMotorbike targets 10-fold sales growth by year-end


Founder and CEO Gil Carmo said the company had set a target of generating about US$2mil (RM8.57mil) each month this year.

PETALING JAYA: South-East Asia’s pioneering eCommerce platform for buying and selling pre-loved motorcycles, iMotorbike, aims to attain a 10-fold sales growth and an annualised revenue of US$20mil (RM85.7mil) by year-end.

Founder and chief executive officer Gil Carmo said the company had set a target of generating about US$2mil (RM8.57mil) each month this year.

“We are confident in our ability to aim for these figures because it is a conservative target to reach. The monthly growth in 2022 was impressive for the size of this business, approximately in the range of almost US$2.66mil (RM11.4mil), so we are expecting to achieve more in 2023,” he told Bernama recently.

Carmo said people nowadays wanted to save cost and time in the event of traffic jams so they preferred to ride motorcycles instead of cars.

He believes that these factors would make 2023 the “year of the bike”.

“In the Malaysian segment, almost one million used motorcycles change hands every year so iMotorbike intends to enter this market by adding value to the product.

“With technological capabilities, our platform provides nimble, agile and more accessible services to customers such as showroom infrastructure and inspection centres to customers,” he said.

Moving forward, Carmo said the company was actively looking for as many players as possible to work together and improve service quality.

“We have worked with several players, such as finance and insurance providers in the region to improve the speed and quality of what we do.

“Every day, we do our best to provide the best experience to the end-customer, and what we do is a game changer in terms of the problems we are solving for the customer,” he said.

Carmo explained that most used motorcycles have been traded in an unstructured, unprofessional and non-digital manner in the region where it is mainly a customer-to-customer type of business interaction.

“Many people are looking for a platform that allows them to understand the quality of the products on both sides and the people they are interacting with to avoid scammers.

“We will provide all the necessary functions, including doing a full 170-point inspection on the motorcycle, and providing a six-day return policy with 100% money-back guarantee,” he noted.

He also said that the business operation was expanding quickly, being cash-efficient, and ensuring it correctly served its shareholders and investors.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

iMotorbike , sales , usedbikes , partners

   

Next In Business News

Some big banks ask more staff to return to office five days a week, Bloomberg reports
Betamek adopts cautious approach amid economic uncertainties
Eurospan gets MGO from Datuk Seri Tan Han Chuan
Pecca’s Q3 net profit jumps 64%
Aneka Jaringan bags RM22.5mil subcontract from IJM construction
Gas Malaysia posts higher 1Q net profit of RM102.63mil
TRC Synergy secures RM142.34mil project to 'transform' state legislative building
Ringgit ends lower against US dollar
Sports Toto almost triples net profit to RM68mil 3Q
Silver Ridge's unit bags RM168.83mil Melaka cruise terminal contract

Others Also Read