Toyota Acquires 40 Pct of Astra's Used Car Company for $120 Million

Muhammad Ghafur Fadillah
 May 6, 2025 | 6:05 pm

The Toyota Motor Corp. logo is seen, May 11, 2022, at a dealer in Tokyo.Jakarta. Conglomerate Astra International (ASII) and Toyota Motor Asia are expanding their partnership into Indonesia’s used-car market, betting $120 million on digital mobility platform Astra Digital Mobil (ADMO).

Toyota Motor Asia (Singapore) Pte. Ltd., the Japanese automaker’s regional unit, acquired a 40 percent stake in ADMO through a combination of new and existing shares. Astra retains majority control with a 60 percent stake held via Astra Digital Internasional.The transaction positions ADMO, operator of OLX.co.id and OLXmobbi, to become a major player in Indonesia’s second-hand auto market. The business spans classified ads and a growing online-to-offline used car network with more than 30 stores and inspection centers across 10 major cities.

Astra President Director Djony Bunarto Tjondro said the deal reflects the company’s long-term strategy to diversify into scalable, high-growth segments while continuing to optimize its core businesses.“We see significant potential in Indonesia’s fragmented used-car sector,” Djony said in a statement Tuesday. “This partnership is part of our push to create value through sustainable, tech-driven mobility solutions.”Toyota’s investment aligns with its broader “Mobility for All” agenda, according to Deputy CEO Hao Quoc Tien.“Astra has been a trusted partner for decades,” Hao said. “Together, we aim to offer inclusive and sustainable mobility options for Indonesians.”The strategic alliance will leverage Astra’s vast automotive ecosystem and Toyota’s global technology to modernize the used-vehicle sector, an increasingly important segment amid growing demand for affordable cars and circular economy practices.The companies also plan to build synergy in vehicle trade-ins, streamlining the process for customers to swap older cars for newer or certified pre-owned models. OLXmobbi is expected to play a central role by offering integrated services from financing and insurance to after-sales support nationwide.