CarDekho has now acquired the Phillippines based online car classified site Carmudi for an undisclosed amount.
The deal is aligned with the company business strategy to expand and fortify its footprint across Southeast Asia, said the announcement.
“Philippines’ underlying macro fundamentals make it an extremely promising market,” CarDekho group co-founder and President Umang Kumar said.
“We see this growth as a big opportunity to digitise the Philippines auto ecosystem and engage with consumers throughout their online car buying journey. Our strong ecosystem play has made us a leader in India and Indonesia. And now we are expecting the same for the Philippines,” Kumar said.
“This means added enhancements in technology, processes, and platform resulting in great user experience. Carmudi is already known for quality listings, powerful search, and one-stop convenience, but the collaboration with CarDekho will enable us to digitalise and simplify the entire auto ecosystem,” he added.