Toyota Motor has acquired a 40% stake in Indonesian used-car dealer Astra Digital Mobil for $120 million, deepening its presence in Southeast Asia’s growing second-hand vehicle market.
The acquisition was executed through Toyota Motor Asia (Singapore) Pte. Ltd., which purchased a combination of new share subscriptions and existing shares from the Indonesian company. The deal allows Toyota to tap into OLXmobbi, a hybrid online-to-offline used car platform with more than 30 outlets and inspection centers across 10 major Indonesian cities.
Indonesian conglomerate Astra International remains the controlling shareholder with a 60% stake in the business. OLXmobbi operates as a digital platform for buying and selling used cars with an end-to-end business-to-consumer model, leveraging Astra Group’s automotive ecosystem.
The deal marks another milestone in the decades-long partnership between Toyota and Astra International, which already collaborate on new vehicle sales in Indonesia. Naga Sujady, President Director of PT Astra Digital Mobil, stated the merger strengthens Indonesia’s used car ecosystem while boosting the domestic economy.
For Toyota, the investment represents a strategic move to diversify beyond new car sales in one of Southeast Asia’s largest automotive markets, where economic conditions have made second-hand vehicles increasingly attractive to consumers.
