Showing posts with label Hatchback cars sold in Malaysia. Show all posts
Showing posts with label Hatchback cars sold in Malaysia. Show all posts

Monday, August 1, 2022

Ken Research | Automotive Aftermarket in Malaysia

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The automotive aftermarket service industry in Malaysia recorded a positive CAGR of ~% on the basis of revenue in between 2016 and 2021. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts, etc. Material and technology used for automotive manufacturing has improved from the past which increases the average age of vehicles.

Online Used Car Penetration

Overall Online Penetration for Used Car in Malaysia stands at 9.8% as of 2021. The Used Car Industry in Malaysia contributes ~1.0% to the country’s GDP. The key drivers of slowing growth were weaker demand for new cars reflecting the impact of decreased in level of income and slowing public investments.

Snapshot On Online Used Car Landscape

The online used car market has been emerging with the rise in the popularity of e-commerce platforms in the country. The growth of online advertising, which has fueled the rise of online classified platforms that have revolutionized the way in which pre-owned vehicles have been sold in the country. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions and other value-added services. Some of the largest players in the space follow a complete transaction marketplace model that provide consumers a completely digital experience and enable them to book test drive & buy used cars online. These platforms also provide ancillary services such as insurance, warranty, financing options & documentation support. They are expected to demonstrate a ~% CAGR till 2026 on account of growth in the online segment due to rapid internet penetration and increase in transaction volume due to preference of owning personal vehicles, mainly due to Covid-19.


Competition Scenario in Malaysia Used Car Market

There exists Intense competition in the highly fragmented market with various OEM certified, brand authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. Used Car Market in Malaysia has been dominated by B2C and OEM Dealerships which has captured majority share in the sales volume of used cars during 2020. Price, age, residual value of the vehicle, brand value, maintenance required are some of the most important factors impacting the preference of consumer. The players compete on parameters such as Product Portfolio, Distribution Network, Pricing, Discounts, and Geographical Location, Value Added Services, Collaborations & Partnerships and After Sales Service.

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Malaysia Used Car Market Future Outlook and Projections

The used car industry is expected to demonstrate strong demand arising due to preference of personal vehicles over public transportation, mainly on account of Covid-19 pandemic. The strong pent-up demand in used car sales as witnessed in in 2021 will drop slightly in 2022 on account of reduced govt. incentives and the volume will normalize.  The sales of economical cars are also expected to increase over the forecast period. Use of advanced technologies such as AI to valuate car online by looking at the pictures only, 360-degree view of the interiors of the car, etc. to enhance digital experience of consumers. FMCCAM is planning to introduce new online marketplace and look for used car financiers from Japan, China and Taiwan so as to increase used car sales.

Key Segments Covered in Malaysia Automotive Aftermarket Service Market: -

By Type of Workshop

Multi Brand

OEM/Authorized

By Type of Multi Brand

Organized

Unorganized

By Type of Vehicle

Sedan

Hatchback

SUV

MPV

By Age of Car

0-5 Years

5-10 Years

10 and above years

By Region

Central

East

South

North

By Car Brand

Perodua

Proton

Honda

Toyota

Others

By Booking Mode

Online

Offline

By Service Split

Maintenance

Repair and Replacement

Body Care

Malaysia Spare Parts after Market Segmentation

By Type of Spare Parts

Electricals and Electronic Components

Suspension and Braking

Consumables and Miscellaneous

Cooling Systems

Rubber Components

Drive transmission and Steering

Others

Key Target Audience

Automotive companies

OEM Car Service companies

Multi brand Car Service companies

Automotive Spare Parts Companies

Time Period Captured in the Report:

Historical Period: 2015-2020

Forecast Period: 2020-2025

OEM Car Dealers/Service Providers:

Perodua

Proton

Honda

Toyota

Nissan

Mitsubishi

Multi Brand Car Dealers/Service Providers:

Dtox

Prestige Cars

Topbest Car Grooming

Autohaus KL

Top Speed

Auto Mobile Garage

Key Topics Covered in the Report: –

Malaysia Automotive Aftermarket Service Industry Overview

Ecosystem of Entities in Car Servicing in Malaysia

Trends and Development in Malaysia Automotive After Market Service Industry

Issues and Challenges in Malaysia Automotive After Market Service Industry

Porters Five Forces Analysis: Automotive Aftermarket Service in Malaysia

Government Regulation in Malaysia Automotive After Market Service Industry

Market Size of Malaysia after Market Service Industry

Malaysia Automotive Aftermarket Service Industry Segmentation

Competition in Malaysia OEM Aftermarket Industry

Strength and Weakness of Major Players in Malaysia OEM Automotive Aftermarket Industry

Competition in Malaysia Multi Brand Aftermarket Industry

Pricing Comparison of Major OEM Car Service Companies

Pricing Comparison of Major Multi Brand Car Service Companies

Operating Model of Organized and Unorganized Workshops

Operating Model of OEM Workshops

Malaysia Spare Parts Aftermarket Industry Overview

Sourcing Spare Parts for Automobile Service Centers (OEM/Authorized Service Centers & Multi-Brand Service Centers)

Malaysia Automotive Aftermarket Car Service Market Future Market Size

Future Outlook and Projections for Malaysia Automotive Service Market

Case Study: Autohaus KL

Analyst Recommendation

For More Information on the Research Report, Click on the Below Link: –

Future of Malaysia Automotive Aftermarket Service Market

Related Reports by Ken Research

India Multi-Brand Car Service Market Outlook to 2025: Door Step Car Servicing, Real Time Service Status to Drive the Penetration of Multi Brand Car Service in India

Indonesia Used Car Market Outlook to 2025 – By Market Structure (Organized & Unorganized), By Type of Car (MPVs, Hatchbacks, SUVs & Others), By Brand (Toyota, Honda, Daihatsu, Suzuki & Others), By Vehicle Age, By Mileage, By Customer Age and By Region (DKI Jakarta, East Java, West & Central Java, North Sumatera & Others)

KSA Automotive Industry Outlook to 2025 – Focus on Technology Adoption & Trends for Dealers, Distributors, Spare Parts Suppliers, Fleet and Leasing Companies and Car service providers

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Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249