SBT DRIVES USED CAR EXPORT TRADE WITH HIGH TRUST QUOTIENT
Rapid growth in the used car export industry persisted over the past two years despite supply chain snags arising from government-imposed lockdowns. This was the pandemic experience of Japan’s largest used car exporter SBT, which strives to raise the industry’s trust quotient by interconnecting more and more traders on a global platform.
“We are working on a distribution service that can deliver vehicles as quickly as possible, and a system to connect customers and the company without any shadows,” says SBT president and CEO Taro Inami.
“We make information visible so that transactions can be conducted with peace of mind.”
SBT’s extensive network is a strong resource in maximising the flow of used car exports globally. The company maintains 34 overseas offices and partners, with about 700 sales representatives marketing used cars all around the world.
Most of the procuring teams are in Japan, but others are also on the ground in Britain, Germany, the United States, United Arab Emirates, Singapore and South Korea. Australia, South Africa and China are recent additions to the overseas network of procuring partners.
More than 90 per cent of SBT’s inventory is sourced through local dealers and Japanese auctions, where a grading system protects customers from damaged goods. SBT only procures cars that are rated 3 to 4.5 and 5 for its stock, denoting car showroom newness. The company inspects every vehicle before and after procurement to make sure its condition matches the inspection sheet data. For buyers’ benefit, quality assurance is built and based upon the Japanese standard of inspecting used cars every two years.
Specialising in right-hand drive vehicles, SBT is the leader in a niche export market comprising the east side of Russia, developing Asia, the east coast of Africa, Paraguay and the Caribbean regions. SBT’s Asian markets include Bangladesh, Kyrgyzstan, Mongolia, Myanmar, Pakistan, the Philippines and Sri Lanka.
The company also fulfils the demand for left-hand drive cars from Europe and an increasing appetite for Korean car brands. “We continually adjust our stock because different markets have different types of demand,” says Toshitaka Tanaka, SBT director, who manages overseas operations.
Through its KAITORE platform, SBT provides used car dealers a sales channel beyond their home countries. For instance, Chinese licensed dealers in Shanghai, Guangzhou and Beijing joined the platform in 2019.
“Our strong purchasing power allows us to meet the high demand for used cars,” Tanaka says.
“Used car prices have soared by about US$2,000 per car at auctions, as compared with last year. Even under such circumstances, we believe it is essential to have enough used cars available for export.”
SBT began testing local pricing and guaranteed settlement rates on its platforms last year, thanks to a partnership with NTT Communications. The two companies aim to fully scale NTT Communications’ Home Currency Anywhere service on SBT’s entire sales platforms by the year-end.
Approaching its 30th anniversary next year, SBT will continue to expand its network of partnerships and invites collaborations with technology firms, car dealerships and auction houses.
“We welcome companies that would like to take on the challenge of selling to various countries around the world,” Inami says.
With the commitment of its 1,000-strong workforce, which remains the company’s driving force, SBT aims to further expand the volume of used car export transactions worldwide.
“The foundation of our success will always be our people,” Inami says. “We have grown with the support of numerous customers and staff from all over the world. We wish to continue our growth for the next 50 years and 100 years together with all of them. Ultimately, we want to change the world with our team culture.”