As we usher into the new year, we sought insights from prominent figures across the Southeast Asian tech landscape. These leaders reflected on their triumphs in 2025, sharing valuable perspectives on their achievements and the challenges they overcame.

They also unveiled their ambitious aspirations, meticulously outlined their strategic plans for 2026, and offered insightful predictions on the trajectory of the tech industry in the new year.

We talked to Eric Cheng, Co-Founder, Chairman and CEO of Carsome to learn more about the unicorn’s achievements in 2025, its plans and aspirations for 2026. Malaysia-headquartered Carsome is Southeast Asia’s largest integrated car e-commerce platform, with presence across Malaysia, Indonesia, Thailand and Singapore.

How was Carsome’s 2025?

As we marked our tenth year as a Malaysian-born company, 2025 marked a clear shift in how we operate. The first decade was about building scale and proving the model. This next phase is about maturity, with profitability, discipline, and sustainability as a business.

That intent shaped how we operated throughout the year. Following a return to profitability and stronger unit economics in 2024, 2025 was about reinforcing those gains by strengthening fundamentals across markets. We focused on cost discipline, tighter execution, and greater use of digital automation, even as the macro environment became more cautious.

Within that context, we continued to support buyers and dealers by expanding access to financing. Institutional financing announced in 2025, including from JACCS, HSBC, and MUFG, provided additional flexibility to support transactions responsibly while keeping our focus on long-term business sustainability.

What’s your expectation/aspirations & for 2026?

On the back of Malaysia’s 2025 ASEAN Chairmanship, 2026 opens with deeper regional connectivity and stronger cross-market engagement across Southeast Asia. At the same time, geopolitical developments and macroeconomic conditions are likely to remain fluid, continuing to influence consumer behaviour and capital allocation across the region.

These dynamics point to sustained opportunities within the automotive industry. Affordability, access to financing, and transparency are becoming increasingly important as consumers navigate a wider mix of vehicle options, including electric vehicles. The next phase of industry growth will be shaped less by volume expansion and more by how effectively players respond to total cost of ownership and long-term confidence.

Against this backdrop, our expectation for 2026 is to capitalise on these conditions by staying disciplined and adaptable, and by aligning closely with evolving consumer needs to deliver more predictable outcomes for consumers, stronger fundamentals for businesses, and more sustainable growth across the region.

How is the outlook for the used car industry in 2026?

The outlook for the used car industry in 2026 remains steady, driven by affordability and more deliberate consumer decision-making. As buyers weigh the total cost of ownership more carefully, used cars continue to be a practical option across Southeast Asia, with growing emphasis on vehicle condition, pricing transparency, and post-purchase confidence.

Electric vehicles represent an important opportunity within this landscape. After the first wave of EV adoption over the past two to three years, more EVs are expected to enter the secondary market. As this segment develops, facilitating smoother transactions through clearer condition assessment, pricing, and ownership confidence will be key. At Carsome, we see this as part of supporting broader EV adoption by helping the secondary market mature in a more structured and trusted way.

Any new plan or product Carsome plans to introduce in the new year? What is the focus in the new year?

In the new year, our focus is less on introducing individual products and more on strengthening how our ecosystem works together to better serve customers. The priority is to sharpen execution across inspection, refurbishment, retail, and financing, so the car ownership journey becomes more reliable and consistent.

Partnerships with financial institutions such as JACCS Co. Ltd (Japan Consumer Credit Service, or JACCS), HSBC Malaysia, and MUFG Bank (Malaysia) Berhad have expanded our financing reach. This allows us to better support both buyers and dealers by improving access to financing and providing greater flexibility across different ownership and inventory needs.

As the market continues to evolve, including the accelerating adoption of electric vehicles, we are also focused on enhancing how we evaluate, price, and support different vehicle types. The aim is to give customers greater confidence in their decisions, whether they are buying an ICE vehicle or an EV.

 

Malaysia’s Carsome: 2025 will set the stage for the next decade of growth