July 2022 | South-East Asia News
Key Findings
- With large number of consumers preferring to
own a private vehicle pertaining to the after-effects of Covid-19, the
used to new car ratio is consistently improving in SEA region.
- Consumers are shifting away from traditional
methods and adopting online platforms more frequently for their used car
buying or selling journey.
Competition
Scenario: SEA used car
market is an extremely fragmented, with
many players capturing more than one geography in the region. With several C2B
& B2C online players, auto-classified platforms, OEM-certified,
brand-authorized dealerships, multi-brand outlets, and independent (standalone
as well as clustered) dealers operating in the business, there is fierce
competition in the highly fragmented market. Recently, several new players have
begun exploring the untapped markets in Southeast Asia.
Price, vehicle age and residual
value, brand value, and the need for maintenance are some of the most critical
aspects influencing consumer preference.
Future
Market Scenario: The used car
industry in SEA is anticipated to expand in the future at a double digit CAGR
over the forecast period of 2021 to 2026F. The sector is anticipated to
experience increased demand as a consequence of individuals preferring their
personal vehicles over public transit as a result of the pandemic.
Increasing internet and
smartphone penetration in the Southeast Asian countries will result in large
number of consumers preferring to buy and sell cars through online used car
platforms. As a result, the used car industry is anticipated to consolidate and
gain more traction in the coming years.
Significant
Growth of Digital Used Car Platforms: Due to the
huge growth in internet and smart phone usage in Southeast Asia, many customers
have started selling and purchasing vehicles through online auto classifieds,
transactional marketplaces, and social media.
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.
Key Segments
Covered:
SEA Used Car
Market
- By Business Model
- C2B
- B2C+C2C
- By Country
- Indonesia
- Thailand
- Malaysia
- Philippines
- Singapore
- Vietnam
SEA Online
Used Car Market
- 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 Overview
- SEA Used Car Market Growth Strategy
- 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
+91-9015378249
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