Toyota crashes Indonesia’s used-car party with US$120 million bet
Can Carro, Carsome, and Moladin survive – and thrive – as the giants move in?
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[JAKARTA] It is an alliance everyone saw coming.
After decades of dominating Indonesia’s automotive industry, Toyota and Astra are joining forces for the country’s used-car market. The Japanese automaker shelled out US$120 million for a 40 per cent stake in Astra Digital Mobil, giving it part ownership of used-car marketplaces OLX and OLXmobbi.
The deal comes as Indonesia’s economic struggles hit its new-car sales. It dropped 13.9 per cent in 2024 compared to 2023, according to data from the Indonesian Automotive Industry Association (Gaikindo).
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