By Yasmin Ramlan
SHAH ALAM, July 23 — Acknowledging the significant pain points people encounter when trying to buy or sell a preloved motorcycle was what led to the creation of iMotorbike.
The e-commerce platform addresses a critical need in Malaysia — a fast, secure and trouble-free experience for motorcycle buyers and sellers.
iMotorbike chief executive officer Gil Carmo said it offers more than just seamless and trustworthy transactions, as it soothes the concerns of many over genuine vehicle parts.
“People often have a huge struggle trying to understand whether the components of the vehicles they are buying are original, in good condition ... and whether the mileage stated are real or fake,” he said of his clients during an interview with Selangor Journal.
“What we do is bring trust, safety and peace of mind to the process,” he said.
Malaysia-based iMotorbike was launched in 2017 as a classified portal. Initially centring product development and building its supply network, the platform transitioned in 2021 to facilitate the online buying and selling of motorcycles, with a focus in Malaysia and Vietnam. The team has nearly 70 employees.
The company is the first portfolio firm to receive investment from Permodalan Negeri Selangor Bhd (PNSB), and was chosen due to its turnover of more than RM28 million in annual revenue.
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iMotorbike chief executive officer Gil Carmo speaks to Selangor Journal during an interview at the iMotorbike showroom in Glenmarie, Shah Alam, on June 4, 2024. — Picture by YASMIN RAMLAN/MEDIA SELANGOR[/caption]
Economic backbone
As of October last year, Malaysia had 17,244,978 registered cars and 16,773,112 motorcycles. The national tally of logged vehicles almost meets its population number of 34 million.
Carmo said despite Malaysia being among the smallest motorcycle markets in Southeast Asia, with a 1:1 ratio to cars, it remains significant and has substantial potential.
Statista’s 2023 data showed motorcycle ownership rates were highest in Thailand, with 87 per cent of households with a motorcycle, followed by Vietnam at 86 per cent, Indonesia at 85 per cent, and Malaysia at 83 per cent.
“In the end, we are solving a deep and serious commuting problem across Southeast Asia, with people (putting) their hard-earned money in a product that takes their kids to school and themselves to work and for errands.
“It is a vehicle that is the backbone of most economies in Southeast Asia, because most countries in the region don’t have robust public transport systems.
“If it weren’t for motorcycles, most of the population cannot afford to move around,” he said.
Elaborating on the iMotorbike’s aim to provide seamless transactions, Carmo said emphasis is placed on vehicle inspections and providing thorough assessments, as second-hand vehicle conditions vary greatly based on factors such as weather exposure, maintenance frequency, and rate of use. These factors significantly impact pricing.
Carmo said in the assessment phase, sellers will be asked about their usage of their motorcycle, its purchase history and its current condition, before finalising agreements on pricing and ownership transfer, which takes around 48 hours to complete.
Buyers are also allowed the important opportunity for test rides. Additionally, iMotorbike offers a five-day booking fee refund of RM500 if buyers change their minds.
“Once we get to the point of purchase of the motorcycle, we offer our clients the option of paying by whichever method they prefer. We also give them a six-day return policy and a money-back guarantee,” he said.
“I think this is the full scope of what it means to provide 100 per cent support for a bike-related transaction. We are really going to be here for you,” he said.
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A row of motorcycles ready for sale seen at the iMotorbike showroom in Glenmarie, Shah Alam, on March 15, 2024. — Picture by REMY ARIFIN/MEDIA SELANGOR[/caption]
Not just a business
Last year, iMotorbike was among 11 promising Malaysian tech startups chosen to attend the four-day Select USA Investment Summit, hosted by the United States’ Commerce Department in Maryland.
Sharing his experience as part of the “Pitch Malaysia: USA Series” programme, organised by the state government through the Selangor Information Technology and Digital Economy Corporation, Carmo said it offered startups a chance to expand their networks, enhance their capabilities through these relationships, and add significant value to their businesses.
“As a growing company that is venture capital-backed, we have the obligation to be constantly out and about interacting with players that support us.
“We become more capable by interacting with people, and it is through these interactions that the magic happens,” he said.
An example of such “magic” is iMotorbike’s partnership with the Selangor Technical Skills Development Centre (STDC) to offer specialised motorcycle technician certifications to students aged 16 and above, paving the way to rewarding careers in the industry.
Despite vocational institutions in Malaysia being perceived by many as second options, Carmo believes success for most countries lies in understanding and addressing technical needs.
“If you have a country that is full of just doctors and engineers, the country will fall apart. I think there is a space and place for everybody,” he said.
“People shouldn’t be afraid of following their passion. If they have an aptitude for fixing and repairing motorcycles, they should definitely consider engaging with schools like STDC to gain more knowledge and support companies like ours.”
He added that businesses must support learning institutions to align education programmes with real-life skill sets.
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Menteri Besar Dato’ Seri Amirudin Shari (centre) observes the signing of a memorandum of understanding between iMotorbike CEO Gil Carmo and Selangor Technical Skills Development Centre Nazri Noh, at the iMotorbike showroom in Glenmarie, Shah Alam, on March 15, 2024. — Picture by REMY ARIFIN/MEDIA SELANGOR[/caption]
Cars v bikes
With approximately 17 million cars on Malaysian roads, or one car for every two Malaysians, traffic congestion is getting worse.
Carmo said the inefficiency of a one-person-one-car norm, considering its costs, time consumption and environmental impact, underscores the need for alternative modes of transport.
He emphasised that motorcycles are a better option, with lower maintenance costs and fuel consumption.
“I think people will think twice: ‘Should I be spending the money on driving a car that is taking a lot of my time and a lot out of my bank account?’”
Carmo added that more people are buying motorcycles now, especially those fatigued by lengthy car commutes in Malaysian traffic.
“I do see quite a lot more traffic. I’ll say that naturally, one person in one car is not very cost efficient, it’s not very time efficient, and it’s not very environmentally friendly as well.
“Motorcycles are more nimble, a lot cheaper to maintain, and a lot cheaper to ride. We will definitely be seeing more and more people who have a car but are getting tired of spending two to three hours in traffic every day,” he said.
Commenting on road conditions, particularly for motorcycle users, Carmo noted Malaysia’s strong emphasis on safety, notably its provision of dedicated motorcycle lanes — a feature many other countries lack.
