CARSOME enters next phase of sustainable growth as EV secondary market develops

Published on February 19, 2026

Southeast Asia’s largest integrated automotive e-Commerce platform, CARSOME, sees a growing number of electric vehicles (EVs) entering the secondary market in 2026, signalling the next phase of EV adoption across the region as the automotive ecosystem matures.

Eric Cheng, Co-Founder, Chairman and CEO of CARSOME, discussed the company’s 2025 performance and outlined its plans for a more disciplined and sustainable stage of growth in a recent interview with TechNode Global. 

Backed by ACV Capital and headquartered in Malaysia, CARSOME operates an integrated automotive e-Commerce platform across key Southeast Asian markets including Malaysia, Indonesia, Thailand, and Singapore.

From scale to sustainability

As CARSOME marked its tenth anniversary in 2025, the company moved beyond its initial scale-building years into a more mature operating phase. The first decade was defined by rapid expansion and model validation across markets. The current phase centres on profitability, operational discipline, and long-term sustainability.

After returning to profitability and achieving stronger unit economics in 2024, management spent 2025 strengthening core fundamentals. Cost controls were tightened, execution standards raised, and digital automation further embedded into operations, even as macroeconomic conditions across the region became more cautious.

Access to financing remained a key priority. Institutional facilities announced in 2025, including partnerships with JACCS, HSBC Malaysia, and MUFG Bank Malaysia, expanded the company’s ability to support transactions for both buyers and dealers while maintaining prudent risk management and capital allocation.

The regional backdrop in 2026 reflects deeper cross-market engagement following Malaysia’s ASEAN Chairmanship, alongside ongoing geopolitical and macroeconomic uncertainty. These conditions are shaping consumer behaviour and capital deployment across Southeast Asia, with affordability, financing access, and transparency becoming increasingly important.

“The next phase of growth in the automotive industry will be driven less by volume expansion and more by how effectively players address total cost of ownership and long term confidence,” Cheng said.

Steady used car outlook with growing EV opportunity

The outlook for the used car industry in 2026 remains steady, supported by affordability and more deliberate consumer decision-making. As buyers weigh total cost of ownership more carefully, used cars continue to be a practical option across the region, with growing emphasis on vehicle condition, pricing transparency, and post-purchase confidence.

EVs represent an important development within this landscape. After the first wave of adoption over the past two to three years, a larger number of EVs are expected to enter the secondary market as early adopters begin to rotate vehicles.

“The outlook for the used car industry in 2026 remains steady, driven by affordability and more deliberate consumer decision-making,” Cheng said. “As buyers weigh total cost of ownership more carefully, used cars continue to be a practical option across Southeast Asia. With EVs, facilitating smoother transactions through clearer condition assessment, pricing, and ownership confidence will be key.”

He added that the company sees the growing EV supply in the secondary market as part of a broader structural shift. “As this segment develops, helping the secondary market mature in a more structured and trusted way will be important to supporting broader EV adoption.”

CARSOME is focused on sharpening execution across its integrated ecosystem, spanning inspection, refurbishment, retail, and financing, with the aim of making the ownership journey more consistent and predictable across both internal combustion engine vehicles and EVs.

By strengthening its operating foundation, maintaining institutional partnerships, and responding to evolving consumer preferences, CARSOME aims to contribute to a more structured and trusted secondary market while pursuing sustainable growth across Southeast Asia.