Grab launches car marketplace with new and pre-owned vehicles for sale

SINGAPORE – Prospective car buyers now have another place to shop for new or used cars, with the launch of Grab’s online car marketplace on Sept 9.

There were more than 40 cars listed on the website on the day of the launch at around 5.30pm, including used ones belonging to dealerships such as SG Car Choice and CarTimes Automobile.

Some belong to Grab’s rental arm, GrabRentals.

The used cars are priced between $11,800 for a Mazda 3 Sedan with eight months left on its certificate of entitlement and $189,888 for a one-month-old Honda Freed Hybrid.

New car listings included 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.

All of the over 20 new cars listed are either electric or hybrid vehicles.

Car owners who want to list their vehicles for sale may e-mail the company.

Some of the motor dealers who 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), said the company did not have to pay to list its cars on the website.

The dealer saw the marketplace as an additional opportunity to reach customers beyond its existing marketing efforts.

Ng Choon Wee, commercial director of Komoco Motors, which distributes Hyundai, said there are no sales targets set for its participation in the marketplace at the moment.

Car Marketplace by Grab was launched to simplify vehicle sourcing, the company said in a press statement on Sept 9.

It also told The Straits Times 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 the listings belonging to GrabRentals, Grab said.

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

But when asked whether buyers need to take out loans from GXS to finance purchases from the marketplace, the firm said that GXS AutoLoan is “one of the financing options” for its private-hire drivers.

Grab ride-hailing drivers can finance the entire cost of their private-hire car, according to the GXS AutoLoan webpage.

Besides ride-hailing and taxi services, Grab also currently offers food and grocery delivery services in addition to integrating content from third-party brands which allow users to buy eSIMs, unlock shared bicycles or book a bus ride to Malaysia.

Esther Loi is a journalist at The Straits Times, where she covers transport issues.

Lee Nian Tjoe is senior transport correspondent at The Straits Times, where he also oversees the Motoring section.