July 2022 | South-East Asia News
- Increased demand for private cars, rising per
capita income, accessible financing options, rising internet penetration,
and improved digitization of the used car industry are among the growth
factors pushing SEA region to witness growth in used car market.
- Online SEA used car market witnessed the entry
of various online classified portals and marketplaces in recent years.
These players follow various different business models and aim to harness
the untapped potential of the industry. Malaysia Contributes the Most in
terms of Online Used Car Market in SEA.
Growing
Traction Towards Online Platform: Increasing
internet and smartphone penetration in the Southeast Asian countries has
resulted in large number of consumers preferring to buy and sell cars through
online auto classifieds and social media, due to which the used car market is
getting more organized and gaining more traction. Moreover, enormous number of
photos and videos on the online platform tends to build trust within the
consumer.
Impact of
Covid-19 on the Used Car Industry: Amidst
mobility restrictions imposed across the Southeast Asian region, the demand for
used cars declined as consumers deferred car purchase decision. Post lifting of
lockdown, the sales of used cars ascended in the SEA region due to preference
of using personal vehicles over public or shared transportation, inability to
pay off loans resulting in selling off vehicle, selling off vehicle if the
seller has more than one already so as to minimize expenses.
Incorporation
of Latest Technologies to enhance digital experience: Future Technologies involving Artificial
Intelligence & Virtual Reality is expected to enhance the digital buying
and selling experience for consumers by offering 360° interior and exterior
view of the car, estimating car price online via uploaded images, analysing
consumer behavioural insights to show relevant ads according to interests and
more.
Analysts at Ken Research in their
latest publication “SEA Used Car Market Outlook to 2026F: Driven by Covid-19 led shift in User’s
Preference towards Private Vehicles and Growing Penetration of Online Used Car
Platforms” observed that post pandemic, SEA is in the late
growth phase and is slowly recovering from the economic crisis. The Covid-19
pandemic drastically decreased customers' purchasing power globally, which had
a detrimental effect on their capacity to purchase new cars. In the SEA region,
there has been a massive impetus in customer preference for used cars. The
industry is expected to demonstrate rapid growth in the future driven by the
expansion of online used car platforms that make the transaction process easier
for both buyers and sellers. The SEA Used Car Market is expected to grow at a
CAGR of 13.5% on the basis of GTV over the forecast period 2021-2026F.
Online Used
Car Market Key Segments:
SEA Used Car
Market
- By Business Model
- C2B
- B2C+C2C
- By Country
- Indonesia
- Thailand
- Malaysia
- Philippines
- Singapore
- Vietnam
- By Business Model
- C2B
- B2C+C2C
- By Country
- Indonesia
- Thailand
- Malaysia
- Philippines
- Singapore
- Vietnam
SEA
Ancillary Services Market
- By Type
- Auto Finance
- Used Car Finance
- Motor Insurance Premium
- Warranty Value
- Automotive Aftermarket
- By Country
- Indonesia
- Thailand
- Malaysia
- Philippines
- Singapore
- Vietnam
Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTg0MjYz
Segments
Included:
- Current Used Car Market Size
- Online Used Car Market
- Competition Landscape (Market Share of Major
Companies, Cross Comparison and Company profiles)
- Future Used Car Market Size
- Future Used Car Market
Countries
Covered:
- Indonesia
- Thailand
- Malaysia
- Philippines
- Singapore
- Vietnam
Companies
Covered (Online Platforms)
- Carsome
- Carro
- OLX Indonesia (OLX Autos)
- MUV
- Mobil 88
- Mobil 123
- MyMotor
- MyTukar
- Carmudi
- AutoDeal
- my
Key Target
Audience
- Used Car Companies
- OEMs
- Online Used Car Portals
- Used Car Financing Companies
- Government Bodies
- Investors & Venture Capital Firms
- Used Car Dealerships
- Used Car Distributors Auction Houses
- Used Car Associations
Time Period
Captured in the Report: -
- Historical Period: 2015-2021
- Forecast Period: 2021-2026F
Key Topics
Covered in the Report
- Executive Summary
- SEA Used Car Market Future Outlook
- Ecosystem of Major Entities in SEA Used Car
Market
- Overview and Genesis of the Used Car Market in
SEA Region
- Value Chain Model for Used Car Industry
- Issues and Challenges
- Overall Used Car Market Size and Segmentation
- Online Used Car Market Size and Segmentation
- Ancillary Service Market Analysis
- SWOT Analysis
- Customer Decision Making Parameters for Buying
Used Car
- Covid-19 Impact on SEA Used Car Market
- Comparison of SEA Used Car Market with USA and
China Market
- Competitive Landscape & Cross Comparison
of Major Players
- Company Profiles
- Individual Country Wise Used Car Analysis for
Indonesia, Thailand, Malaysia, Philippines, Singapore and Vietnam
- Future Projections
- Analyst Recommendations
- Research Methodology
Related
Reports
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
