Indonesia-based conglomerate Astra and Japan-based automotive firm Toyota are strengthening their strategic partnership and expanding collaboration in the used car business in Indonesia through a partnership in PT Astra Digital Mobil (ADMO).
Toyota said in a statement on Tuesday that Toyota Motor Asia (Singapore) Pte. Ltd. (TMA), has acquired 40 percent of ADMO.
TMA’s acquisition was through a subscription of new shares and acquisition of existing shares, with a total value of $120 million.
After this transaction, Astra through PT Astra Digital Internasional (ADI) retained control over ADMO with a 60 percent shares ownership.
ADMO owns OLX.co.id and OLXmobbi, through its subsidiaries. OLX.co.id is one of the country’s largest online classifieds platforms for second-hand goods and services.
OLXmobbi is a used car business based on an online to offline model, with more than 30 stores and inspection centers across 10 major cities in Indonesia.
“We continuously optimize our core business while actively investing in scalable, high-growth opportunities. The used car market in Indonesia remains largely fragmented, offering vast potential to create value at scale,
“This partnership reinforces our commitment to innovation, accessibility, and delivering trusted mobility solutions to all Indonesians,” stated Astra President Director, Djony Bunarto Tjondro.
Meanwhile, Deputy Chief Executive Officer of Toyota Motor Asia, Hao Quoc Tien, said Astra is Toyota’s trusted and long-standing partner, and the firm is delighted that it can further expand its collaboration through this endeavor.
“Toyota has a vision of “Mobility for All” and used car and mobility businesses allow us to extend our reach in realizing our vision,
“I am confident that we will be able to continue our over 50 years commitment to contribute to the Indonesian people through this partnership,” he added.
According to the statement, this collaboration marks another milestone in Astra and Toyota’s continuing partnership.
By leveraging Astra Group’s comprehensive automotive ecosystem, along with Toyota’s technology and extensive network, ADMO is well-positioned to modernize the used car sector and expand access for customers in Indonesia to obtain high-quality vehicles, financing, insurance and aftersales services across the country.
The partnership should enhance synergies between Astra and Toyota, in making it easier for customers to buy new and used vehicles through trade-in program, it said.
Aligned with broader macro trends such as circular economies, affordability, and digitalization, this partnership unlocks a compelling strategic opportunity.
With a lower cost base, broader market reach, and strong consumer demand for used vehicles in Indonesia, OLXmobbi is well-positioned to become a leading mobility enabler, said the statement.