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UCARS Launches First-ever AI Car Valuation Tool In Singapore

Local online car marketplace aims to revolutionise consumer awareness with the launch of its free-to-use AI car valuation tool- the first in Singapore.

SINGAPORE, SG, 6 JULY 2020: Today, online car marketplace UCARS officially launches its free AI instant car valuation tool. The tool, which is currently in beta, is designed to eliminate the time-consuming process of manually acquiring car valuation quotes from different dealers by utilising an ever-growing pool of data to generate an instant gauge of the value.

The UCARS AI car valuation tool features a streamlined, user-friendly interface accessible via the UCARS’ ‘Sell My Car’ webpage. Users simply need to enter a few personal particulars and details about the car to receive an instantly-generated quote generated by the AI through a sophisticated algorithm based on data collected from local dealers. After generating the results, the AI tool displays the level of accuracy of the results through a colour-coded system: a green wave represents high accuracy, yellow for moderate accuracy, and red for low accuracy. 

The UCARS AI valuation tool is free to use, with absolutely no obligation for users to sell with the platform afterwards. 

“We decided to create the AI car valuation tool in response to the rapid digitisation of the industry as a result of the COVID-19 pandemic.”, said Chief technology officer Cho Kok Yick. “It helps consumers to better manage expectations when selling their car.”

Commenting on the brand’s hopes for the feature, Co-founder and CEO Leslie Hong added “We are confident that this tool will revolutionise the car valuation process in Singapore. With it, consumers will be able to make more informed choices than ever before.”

UCARS developed the AI car valuation tool to be a game-changer for the automotive industry. Traditional methods of car valuation involved approaching different dealers, waiting for their response, and manually compiling and comparing quotes. This process often took a few days, whereas the UCARS AI valuation tool simplifies this process in a matter of a few clicks.

About UCARS 

Affiliated with 21 United Holdings, UCARS is founded by a consortium of renowned new and used dealers as well as leading car-related service providers. With a relentless commitment to drive radical change in an ever-evolving automotive industry through digital transformation, UCARS merged the online and offline retail experience into one cohesive marketplace where trusted car buyers and sellers connect.

For media enquiries, please contact:

Leslie Hong 

Co-Founder and CEO of UCARS 

+65 9798 9190 | cm@ucars.sg  

Ely Wong

Business Development Manager

+65 9385 8178 | ely@ucars.sg 

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