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India used-car unicorn takes on ASEAN's Carro and Carsome

SoftBank-backed CARS24 eyes Thailand and Indonesia as 3-way battle heats up

India’s used-vehicle marketplace CARS24 is establishing its Southeast Asian foothold in Thailand and Indonesia. (Photo courtesy of CARS24) 

SINGAPORE -- Competition among online used-car platforms in Southeast Asia is set to heat up as a challenger from outside the region seeks to tap the massive market of 650 million people.

India's used-vehicle marketplace CARS24 launched its ASEAN foothold in Thailand in November and plans to follow up by entering Indonesia in 2022, setting the stage for a three-way battle with Singapore's Carro and Malaysia's Carsome.

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