“It’s a well-known fact that car ownership in Malaysia is amongst the highest in the region with 93% of households owning at least one car. However, with real wage growth slowing down over the past few years, we acknowledge the financial burden that comes with owning a car. With Trevo, we are showing our commitment to the multiflex ecosystem by allowing a new segment of users who want to make money from sharing their cars when they’re not using them to alleviate the financial burden of servicing a hefty monthly auto loan instalment. For the Trevo Guests, we hope to be able to curate best in class vehicles in terms of selection and quality at very attractive prices. Ultimately, Trevo is about driving people forward towards achieving their financial and lifestyle goals,” said Mr Leon Foong, CEO of SOCAR Mobility Malaysia.
Malaysia has one of the world’s highest ratios of private car ownership (93%) and the highest incidence of multiple car ownership per household globally (54%).
“SK Holdings is excited to invest in bringing transportation innovations like Trevo to Malaysia, with the rapidly changing attitudes towards car ownership and transportation choices that we see here. The strong growth of SOCAR Malaysia has shown us the value of investing in car-sharing platforms in this country, thus inspiring us to channel more investment to this sector here,” commented Mr Shin Jung-Ho, Executive Vice President, SK Holdings Co Ltd.
Meanwhile, Ms Susan Teoh, General Manager of Trevo said Malaysians are always keen to try new concepts, such as new car ownership models that enable drivers to access a car only when needed instead of committing to full ownership, and for existing car owners to loan out unneeded cars instead of storing them at home.