KUALA LUMPUR, 13 October 2022 – CTOS Digital Berhad, through its subsidiary company, CTOS IDS Sdn Bhd, has launched a new service in collaboration with OTOFACTS for consumers to check the history of used vehicles that are being considered for purchase.
The new CTOS Vehicle Check online platform will offer a one-stop solution for hassle-free access to comprehensive reports on used or reconditioned motor vehicles that have been registered in Malaysia, Japan and the UK. Leveraging CTOS’s extensive customer base, CTOS Vehicle Check will now offer more Malaysians access to trusted automotive reports for the confidence to purchase a reliable used car.
The collaboration will be brought to life in partnership with OTOFACTS, Malaysia’s first online automotive bureau with the largest database in the country. OTOFACTS has access to automotive records with a wealth of information from various sources such as auction houses, insurance companies and several government agencies.
“The challenge with buying a used car is that buyers more often than not have little to no access to verify the background information of the car,” explained Group CEO of CTOS Digital Berhad, Eric Hamburger. “By providing easy and immediate access to extensive data through CTOS Vehicle Check, we can help reduce fraud and improve transparency in the sale and purchase of used vehicles in Malaysia, giving consumers the peace of mind with a used car report they can trust.”
CTOS Vehicle Check platform enables consumers to check the following information:
- Accident history
- Vehicle mileage
- Vehicle reported stolen
- Car ownership history
- Any open manufacturer recalls
- Salvage title (to check if the car has ever been declared as a write off)
- Auction records
- Airbag deployment history (only for Japanese cars)
- Service and maintenance records
- Car Registration
According to Shahir Ali, CEO of OTOFACTS, “An important step in any used car purchase is getting a vehicle check report that can be trusted. This will enable consumers to make informed decisions based on hidden details behind the vehicle to determine the car’s market value and ensure years of reliable and safe transportation.”
CTOS Vehicle Check comes at a timely point with the expected growth in used car market in Malaysia. According to analysts at Ken Research in their latest publication, the accelerating growth in the industry today comes from greater accessibility of buying and selling of used cars via online platforms as well as the shift in preference for using personal transportation over public commute, fuelled by the pandemic. As a result, The Malaysian Automotive Association is expecting used car sales to grow by nearly 12% this year from 428,000 units sold last year to projected 480,000 units to be sold in 2022.
CTOS Vehicle Check is the latest service offering for consumer in the automotive industry following the launch of CTOS Car Insurance last month as CTOS continues to explore and penetrate new market segments. Consumers looking to take advantage of this one stop solution can do so at https://vehiclecheck.ctosids.com/
