CarBuyer speaks with Jasmmine Wong, CEO of Inchcape Greater China and Singapore (Borneo Motors and Inchcape Automotive services), about the company’s latest venture into the pre-owned car business

SINGAPORE

Borneo Motors, the official distributor for Toyota and Lexus cars in Singapore, recently announced the establishment of their new pre-owned car retail operations, with Toyota Certified Pre-Owned and Lexus Certified Pre-Owned catering to each respective brand. 

In addition, Inchcape, Borneo’s parent company, has also established its Inchcape Certified Pre-Owned Business, which will handle general pre-owned car sales that’s not limited to Toyota and Lexus models. The company promises that the establishment of the new businesses will deliver an even greater experience for car buyers in Singapore looking for a pre-owned car.

CarBuyer speaks to Jasmmine Wong, CEO of Inchcape Greater China and Singapore (Borneo Motors and Inchcape Automotive services), about Inchcape and Borneo’s latest pre-owned car businesses, and her perspectives on the used car market in Singapore.

CarBuyer Singapore (CB): Could you tell us more about Borneo Motors’ new Certified Pre-Owned services and how it is different from what you’ve offered previously?

Jasmmine Wong (JW): Our new Certified Pre-Owned businesses are a retail business-to-consumer initiative that marks our commitment to elevating the customer experience by enhancing the vehicle lifecycle value and delivering a full value service chain.

We are now offering a seamless, omni-channel experience to customers. At both our brand-new Inchcape Singapore multi-brand showroom and our Leng Kee showroom, customers will enjoy a one-stop shop experience for added convenience. Beyond these physical touchpoints, this platform will also enable us to better interact with our customers through digital-first initiatives.

By leveraging on our strong digital presence, we can offer digital-first experiences such as a live chat function and advanced filtering on our dedicated website for Toyota and Lexus pre-owned cars, where potential customers can easily narrow down their search and inquire seamlessly about their preferred model.

We are also excited about the launch of Singapore’s first-ever monthly e-auctions open to the general public, which is the first of its kind here.

CarBuyer Notes: More information about the auction can be found here.

CB: In your own words, why should car buyers choose Borneo Motors Certified Pre-Owned? What are the unique propositions that make Borneo’s Certified Pre-Owned services attractive to car buyers and sets it apart from the competition?

JW: Borneo Motors is a brand that has been synonymous with excellence and trust in Singapore for over 50 years. We are custodians of some of the world’s most recognisable automotive brands and have consistently delivered on our commitment to ensure quality assurance and customer-centricity. The Certified Pre-Owned businesses are no different and will continue to uphold these same standards.

Besides Toyota and Lexus, customers can browse through a wide range of pre-owned vehicles across our multi-brand portfolio. There’s also a full range of services such as easy access to financial services, insurance coverage, hassle-free valuation and complimentary servicing available to them.

CB: How do you see the pre-owned car business in Singapore developing amid the current uncertain climate?

JW: The automotive industry in Singapore has seen rapid changes in recent years, fuelled by the Singapore government’s push towards a cleaner and greener Singapore with the vision of a car-lite society, and the general public’s growing awareness of sustainability as well as social and corporate responsibility.

The Land Transport Authority (LTA) had just recently reiterated its stance on Certificate of Entitlement (COE) quotas and zero vehicle population growth, with the earliest review set for 2024. With that in mind, I predict that COE premiums for new cars could skyrocket to as high as S$90,000 (for Cat B).

All of these factors makes the option of purchasing a pre-owned car more attractive to potential car owners, and customer demand for a full value one-stop shop experience is rising. With the launch of our new Certified Pre-Owned businesses, we are better equipped to offer a viable long-term solution for many Singaporeans drivers.

CB: Personally, what are you most proud of with regards to the establishment of this new business?

JW: The sheer number of historic “firsts” that we have achieved through this launch – with the most important one being Borneo Motors taking the pre-owned business in house for the first time, and delivering a customer experience that will enable us to develop longer, deeper relationships with customers as the leading automotive distributor in Singapore.

From the first-ever online car auction open to the general public, to the first time that we are expanding the full value chain, these milestones are proof of our commitment to bringing the best experience to customers.

The launch of our new Toyota Certified Pre-Owned and Lexus Certified Pre-Owned businesses are a robust testament of the long-term relationship between Borneo Motors Singapore and Toyota Motor Asia Pacific. With their support, we are now able to take our business one step closer to our vision of bringing mobility to the world.

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