Taking stock of 2022, TREVO was handed a mixed bag, with pandemic recovery challenged by economic headwinds and inflation, as political uncertainty further dampened sentiment among the public. Nevertheless, TREVO’s business performance remained robust, showing strong growth with new and enhanced services introduced to benefit both car owners (Hosts) and users (Guests) alike.
As the leading peer-to-peer (P2P) car-sharing marketplace in Malaysia, TREVO has continued to drive the appeal and relevance of the shared economy among car owners and drivers. More Malaysians now know about the option of car-sharing as a mobility solution, evidenced by the strong rise in usage amidst TREVO’s expansion to new cities.
Across 2022, TREVO recorded a sixfold increase in the number of trips booked – at an average of over 1,800 trips monthly compared to 300 trips monthly during pandemic when the pandemic travel restrictions were still in effect. It is evident that with the recovery in tourism, Malaysians are ready to unleash their pent-up travel demand by booking a car through TREVO for their road trips, marking their existing familiarity with P2P car-sharing.
At the same time, car owners became more confident in listing their cars for rental on TREVO, with listings growing steadily in 2022, from a total of over 4,000 cars listed on the platform at the end of 2021 to a new total of over 6,000 cars available for booking by the end of 2022.
New services such as Buddy Driver that allows Guests to book a driver on demand also saw significant growth, with over 10,000 bookings completed across 2022, since Malaysia entered the endemic phase.
“The existence of TREVO, which offers multi-pronged benefits to Malaysians, from offering a source of additional financial sustainability when they list their cars for booking to offering flexible mobility for drivers who only want access to a car on limited occasions, without hidden charges, is clearly welcome among Malaysians, looking at the growth in the number of bookings and listings across 2022. We have also addressed the concerns of potential Hosts by introducing TREVO Shield insurance coverage specially designed to protect car-sharing Hosts as well as Guests. To better support our TREVO community, we also introduced services like Buddy Driver and education-oriented features like TREVO University, to continuously improve the experience of TREVO users in Malaysia,” said Susan Teoh, General Manager of TREVO Malaysia.
Expanding its coverage area to Seremban in March and Langkawi in May respectively, TREVO targets continued expansion to serve a wider customer base across Malaysian cities. To further drive usage, the company has continued to offer special promotions during festive seasons and special occasions such as the general elections, to ensure that the mobility needs of Malaysians can be better served.
“Looking ahead into 2023, we are confident of our ability to extend our growth momentum in the coming year, in line with our business roadmap and mapped trajectory. Initiatives to improve customer experiences continue to be a priority into 2023, where we are focused on further optimising the TREVO app to provide a better user journey for our customer base. While the Malaysian economy shows promising signs of growth, we will continue our efforts to build the sharing economy, empowering more Malaysians to benefit and increasing their disposable income through renting out underutilised vehicles,” Susan concluded.
To learn more about TREVO, visit its official website at https://trevo.my/, Facebook page https://www.facebook.com/TrevoMY/ or Instagram account https://www.instagram.com/trevomy/
