Published on January 26th, 2023 | by Subhash Nair0
SOCAR Car Rental Platform Confident Of Growth In 2023
SOCAR is prepared for better business in 2023.
The car rental platform SOCAR has issued a press statement on its growth prospects in Malaysia for 2023. Based on the promising performance of the company in 2022. Last year, the company experienced healthy growth thanks to a mixture of bearish trends in the global economy, local political uncertainty and relaxed travel restrictions.
SOCAR reports that since travel restrictions have been lifted, the company has recorded impressive month-on-month growth. Their user base has increased from 5000 during the CMCO period to over 20,000 when after travel restrictions were lifted. Support services such as SOCAR-2-YOU delivery and pick-up services also have become more popular on the app.
SOCAR has increased the range of models available to 40, including compacts, sedans, SUVs, and MPVs. To ensure these cars are well managed, they’re working with Bosch to integrate a 3S IoT system with sensors to detect smoke, damage and unusual car usage behaviour.
They have also optimised the number of car park zones for better availability across the country. The company has also expanded to Kota Kinabalu 9 months ago and completed over 2,000 bookings there in that time. As of writing this, SOCAR is available in Kota Kinabalu, the Klang Valley, Penang, Ipoh, Seremban, Melaka and Johor Bahru.
Here’s the press release with more information.
SOCAR – Malaysia’s No. 1 Car-Rental platform, is confident in its growth prospects in 2023, strengthened by promising numbers achieved across 2022, when Malaysians increasingly embraced the sustainable mobility solution offered by SOCAR. Amidst bearish trends in the global economy and local political uncertainty, even as Malaysia relaxed travel restrictions, SOCAR’s service offerings proved appealing to drivers, enabling the company to record healthy growth in 2022.
Since travel restrictions were lifted, SOCAR has recorded robust month-on-month growth, with a 60% increase in users, from 5,000 during the CMCO period to over 20,000 when travel restrictions were lifted, indicating a demand for mobility options and the relevance of Car-Rental as a choice for drivers. Support services that improve the Car-Rental experience, such as the SOCAR-2-YOU delivery and pickup services also saw a rise in demand. The new 24-hour pickup only service, introduced in Dec 2022 is the latest in SOCAR’s range of services designed to elevate the end-to-end shared mobility experience for users.
To further cater to a growing customer base, SOCAR expanded the range of car models in its fleet to more than 40, including compact, sedan, hatchback, SUV and MPV options to suit a variety of lifestyles and use cases. At the same time, SOCAR has optimised the number of its car park zones to ensure ample availability across the country in response to customer demand.
Another key expansion was the arrival of SOCAR in Kota Kinabalu, joining existing locations in the Klang Valley, Penang, Ipoh, Seremban, Melaka and Johor Bahru. With the Land Below the Wind being a popular tourist destination, SOCAR vehicles are ready to serve travellers, whether they’re on a road-trip to enjoy nature or just chilling out on the beach. In the 9 months since arriving in Kota Kinabalu, SOCAR has seen over 2,000 bookings completed, a promising growth indicator for Car-Rental in East Malaysia.
Meanwhile, in line with SOCAR’s aim to enhance sustainable mobility, the company entered into a strategic partnership with BOSCH to maintain both customer satisfaction and the good condition of its cars by implementing BOSCH’s 3S IoT system featuring sensors, software and services. Using an in-vehicle sensing solution that is sensitive to smoke and able to detect damage, SOCAR is able to enhance customer comfort when using the car by tracking unusual car usage behaviours, as well as perform quick repairs and maintenance works on any cars found needing a touch-up, thus extending their lifecycle.
As SOCAR revs up in 2023, it is committed to adding customer-focused improvements and new services to meet customer demand, refreshing the fleet as well as forming new collaborations to elevate sustainable mobility options. With growing public awareness on the importance of sustainable mobility and increasing willingness to consider new models of car ownership and access to private vehicles, SOCAR is well-positioned to turn interested consumers into new customers with the right service offerings.