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Used Car Platforms in SEA region are expanding their digital presence to increase online visibility among consumers: Ken Research

08-17-2022 05:17 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt Ltd

Used Car Platforms in SEA region are expanding their digital

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.

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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
By Country
SEA Online Used Car Market

By Business Model
By Country
SEA Ancillary Services Market

By Type
Auto Finance
Used Car Finance
Motor Insurance Premium
Warranty Value
Automotive Aftermarket
By Country

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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:

Companies Covered (Online Platforms)
OLX Indonesia (OLX Autos)
Mobil 88
Mobil 123

Key Target Audience
Used Car Companies
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

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Ken Research
Ankur Gupta, Head Marketing & Communications

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

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