Shulou(Shulou.com)11/24 Report--

On the morning of September 20, Beijing time, it is reported that Japanese mobile operator Softbank Corp. has reached a partnership with Singapore start-up Carro supported by Softbank Corp. Vision Fund to launch a service that allows users to use used cars in Japan at a fixed fee.

The two companies formed a joint venture called Carro Japan, which owns 51% of the shares and 49% of the shares, with Softbank Corp. in the majority. The service was launched on Tuesday.

Carro's artificial intelligence program can quote subscription rates based on the vehicle's pricing history and other factors. According to Softbank Corp., customers will pay about 20 per cent less than they subscribe to the new car.

Carro Japan will start with B2B services, but they will consider launching a service for ordinary users.

Due to supply chain disruptions, the waiting time for new car delivery in Japan has been extended to half a year or more. These conditions have increased consumer demand for used cars. The average transaction price of used cars soared 29% in August from a year ago, according to USS, Japan's largest used-car auction platform.

Softbank Corp. is looking to develop its non-telecoms business after its mobile division ran into trouble after offering a low-cost communications package in response to government pressure.

Carro was founded in 2015 and operates in Singapore, Thailand and other Southeast Asian markets. The startup simplifies used car sales on its platform through artificial intelligence-assisted pricing and sales. Last year, the company completed a $360 million round of financing, led by the Vision Fund of Softbank Corp. Group.

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