The report titled “Thailand Used Car Market Outlook To 2025 – Growth of
Online Used Car Platforms and Easy Availability of Credit Escalating Industry's
Growth” provides a comprehensive analysis on the status of the used
car industry in Thailand. The report covers various aspects including volume of
used cars & market size, production scenario of new cars in the country,
target audience, growth facilitators, issues & challenges faced by the
industry, and other aspects. Thailand Used Car Industry report concludes with
projections for future of the industry including forecasted sales revenue and
volume by 2025, market segmentations, Covid-19 impact and analysts’ take on the
future.
Thailand Used Car Market Overview and Size:
Thailand Used Car sector is in the maturity phase, growing at a CAGR of
1.8% during 2014-2020. Increasing demand for private vehicles, reduction in
purchasing power, easy availability of finance, and increasing VAT on new cars
are the main reasons behind positive growth in used car sales revenue. Another
major driver is the drop in use of public transport due to the pandemic and
need for private vehicle.
Thailand Used Car Market
Segmentations
By Market Type (C2C, B2C/OEM, and
Auction): B2C/OEM Organized market dominated the used car industry in
Thailand in 2020 on
The basis of value and volume. The presence of major OEM is concentrated
in the Bangkok, Vicinity and Tier-2/Tier-3 cities; However, Multibrand dealers
are present throughout the country, both online and offline.
By Type of Car: 1 Ton
pickup truck dominates the market. This is majorly due to the fact that it has
both commercial and personal utility. Also, the taxes on these vehicles are low
as compared to sedan and economical cars as majority of these vehicles are
bought by farmers.
By Kilometers Driven: Cars with
running of 80,000- 120,000 kilometers dominate the market. This is mainly due
to the reason that 1 ton pickup trucks constitute the most of the market. As
they have commercial usage the odometer reading in the vehicles of the country
is quiet high.
By Ownership Period: Since the
finance for used and new car is readily available in the country the ownership
period of the cars has been decreasing. Majority of the market share is
acquired by cars having age of 5-8 years
By Region: Used car
are majorly concentrated in Bangkok due to higher purchasing power as compared
to other regions. The Northeastern region has the second highest used car sales
volume due to strong economic growth from increasing cross-border trade
supported by the presence of special economic zones
Snapshot on Online Used Two Wheeler
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 fuelled the rise of online classified platforms such as
iCar Asia, Car Some, Carro and others 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. The Overall Online Market is
expected to Increase at a double Digit Positive CAGR during the period
2020-2025.
Competitive Landscape of Thailand
Used Car Market
Used Car Market in Thailand has been dominated by B2C and OEM Dealerships
which has captured a share of majority share in the sales volume of used cars
during 2020. In the OEM segment, Toyota and Honda together account for majority
of market. Both foreign as well as domestic companies are present in the
market. These players compete on parameters such as proximity, value added
services, prices, promotional offers and tie ups with major financial
institution. In order to increase their revenue, the players offer free gifts
and warranty as a part of promotion.
Thailand Used Car Future Outlook
& Projections
The used car industry is expected to recover from the Covid-19 pandemic
and witness growth by 2025. The increasing need for use of private vehicle in
order to avoid public transport is expected to fuel the sales of used cars. The
sales of economical cars are also expected to increase over the forecast
period. The Used Car Market is expected to witness investment in promotional and
marketing activities and also strategic partnerships of domestic and foreign
players.
Key Segments Covered
By Market Type
C2C
B2C/OEM organized
Multi Brand Organized Dealer
Multi Brand Unorganized Dealer
OEM Organized
Auction
By Car Segment
Hatchback
1 ton pickup
Sedan
MPV, HPV/Mini MPV
SUV
By Region
Bangkok
North East
North
South
East
West
By Kilometers Driven
Less than 20,000
20,000-50,000
50,000-80,000
80,000-120,000
Above 120,000
By Age of Vehicle
Less than 1 year
1-3 years
3-5 years
5-8 years
More than 8 years
By Age of Buyers
20-30 Years
30-50 Years
Above 50 Years
By Source of Lead
Online (Social Media/Car Portals/Official Website)
Offline (Dealership Walk-in)
Companies Covered (OEM Dealerships)
Toyota Sure Thailand
Honda Used Certified Thailand
Mitsubishi Diamond Used Car
Nissan Intelligence
Mercedes Certified
Volvo
Companies Covered (Online Portals)
ICar Asia (One2Car, Thaicar, Autospinn)
Carsome Thailand
Carro Thailand
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 –
2014-2020
Forecast Period –
2021-2025
Key Topics Covered in the Report
Executive Summary
Research Methodology
Thailand Used Car Market Overview
Thailand Used Car Market Size, 2014-2020
Thailand Used Car Market Segmentation, 2020
Growth Drivers in Thailand Used Car Market
Issues and Challenges in Thailand Used Car Market
Regulatory Framework
Snapshots on Used Car Financing
Snapshot on Auction Market
Snapshot on Used Bike Market
Ecosystem and Value Chain of Used Car Industry in Thailand
Customers Purchase Decision Making Parameters
Cross Comparison between Major OEMs and Multibrand Dealers and Company
Profiles & Product Portfolios
Future Market Size and Segmentations, 2021-2025F
Covid-19 Impact on the Industry & the Way Forward
Analysts’ Recommendations
For More Information on the
Research Report, refer to below links:-
Related Reports by Ken Research
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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