JAKARTA – PT Autopedia Sukses Lestari Tbk (ASLC), an omnichannel automotive trading company, has set a capital expenditure (capex) budget for this year of IDR 20-30 billion.

“This capex will be used for the expansion of Caroline.id,” the management announced in an official statement today (24/1). Caroline.id is projected to open several new showrooms, though the exact number has not yet been determined.

As of the end of 2024, Caroline.id already had 16 showrooms across the Greater Jakarta area (Jabodetabek) and West Java.

ASLC’s decision to focus its expansion on the used car segment through Caroline.id is seen as a strategic move to cope with the sluggish automotive market.

“We believe that the challenging economic conditions will push more people to shift their plans from buying new cars to purchasing used ones this year,” added Jany Candra, President Director of ASLC.

By the end of September 2024, Caroline.id’s revenue had surged by 35% year-on-year (yoy) to IDR 416.76 billion.

“The company is confident that Caroline.id’s total sales in 2024 will surpass the 2023 figure of 3,135 units,” the management added.

In addition to Caroline.id, ASLC also operates in the used car trading business through its auction segment, JBA, and the pawn business via MotoGada. (ZH)