Dublin, May 06, 2025 (GLOBE NEWSWIRE) -- The "SEA Used Car Market Outlook to 2028" has been added to ResearchAndMarkets.com's offering.
The Southeast Asia used car market, valued at approximately USD 106.5 billion, continues its growth trajectory driven by the affordability of pre-owned vehicles, the rise of online sales platforms, and accessible financing.
Consumers in this region are increasingly choosing used cars for their cost-effectiveness and the convenience provided by digital marketplaces offering transparent deals and warranties.
Indonesia and Thailand are market leaders due to strong automotive ecosystems and an established consumer base. Indonesia benefits from urbanization and a growing middle class, while Thailand's vehicle manufacturing sector boosts demand for certified pre-owned vehicles. Both countries' markets are strengthened by financing solutions and a cultural inclination towards vehicle ownership.
Recent vehicle scrappage policies, particularly in Thailand and Indonesia, promote the transition from older, polluting vehicles to newer, environmentally-friendly options, including used cars. These policies incentivize consumers to exchange old vehicles, encouraging the purchase of used cars that meet environmental standards.
SEA Used Car Market Segmentation
By Business Model: The market divides into C2B and B2C+C2C segments. The C2B channel is predominant, allowing direct sales to online platforms that distribute to dealers. In comparison, B2C+C2C remains essential, with B2C favored for its added benefits like warranties and financing. The C2C segment, however, lacks these advantages. By
Country: Thailand leads in sales value and volume due to its mature automotive market and strong demand for pre-owned vehicles. Malaysia boosts the online used car market, driven by high internet use and digital marketplaces. Countries like Indonesia and the Philippines show steady growth, spurred by urbanization and increased middle-class incomes. SEA
Used Car Market Competitive Landscape
Prominent players such as Carsome, Carro, and OLX Autos, alongside local dealerships, shape the market. These companies leverage robust online platforms, bank partnerships for financing, and AI tools for vehicle inspections, enhancing the buying and selling experience.
SEA Used Car Industry Analysis
Market Growth Drivers: Rising incomes across Southeast Asia are pushing consumers towards private transportation, with many seeking personal mobility solutions. Enhanced internet connectivity, with roughly 490 million users across Southeast Asia, supports the rise of online platforms transforming the used car market. Environmental concerns drive government initiatives towards vehicle electrification. As a result, there is increased demand for used cars as affordable alternatives, catalyzing market growth.
Market Challenges: The market's unorganized nature, dominated by independent dealers, poses challenges like inconsistent pricing and quality standards, causing consumer distrust. A lack of regulation exacerbates issues, making buyers vulnerable to misinformation regarding vehicle condition.
SEA Used Car Future Market Outlook
Over the next five years, the market is projected to reach USD 156.9 billion due to urbanization, online platform adoption, and a shift towards sustainable transportation. The rise of electric and hybrid vehicles, accompanied by government support for emission reduction, will further propel growth. Emerging markets in Vietnam and the Philippines are poised to expand this sector.
Future Market Opportunities
A notable shift from two-wheelers to four-wheelers is underway as incomes rise and the working population grows, intensifying demand for used vehicles. Additionally, the increasing focus on eco-friendly options promotes a shift towards electric and hybrid pre-owned vehicles, offering cost-effective solutions for consumers aiming to reduce their carbon footprint without incurring high costs of new vehicles.
Company Coverage Includes:
- Carsome
- Carro
- OLX Autos
- Mobil88
- MyTukar
- iCar Asia
- BeliMobilGue.co.id
- Carmudi
- AutoDeal
- Chobrod
- One2Car
- Carlist.my
- Motortrader
- MyMotor
- Mobil123
Key Topics Covered:
1. SEA Used Car Market Overview
2. SEA Used Car Market Size (In USD Billion)
3. SEA Used Car Market Analysis
3.1. Growth Drivers
3.2. Market Challenges
3.3. Opportunities
3.4. Trends
3.5. Government Regulations
3.6. SWOT Analysis
3.7. Stakeholder Ecosystem
3.8. Porters Five Forces Analysis
3.9. Competitive Landscape
4. SEA Used Car Market Segmentation
4.1. By Vehicle Type (In Value %)
4.2. By Vendor Type (In Value %)
4.3. By Fuel Type (In Value %)
4.4. By Sales Channel (In Value %)
4.5. By Country (In Value %)
5. SEA Used Car Market Competitive Analysis
5.1. Detailed Profiles of Major Companies
5.2. Cross Comparison Parameters
5.3. Market Share Analysis
5.4. Strategic Initiatives
5.5. Mergers and Acquisitions
5.6. Investment Analysis
5.7. Venture Capital Funding
5.8. Government Grants
5.9. Private Equity Investments
6. SEA Used Car Market Regulatory Framework
7. SEA Used Car Future Market Size (In USD Billion)
7.1. Future Market Size Projections
7.2. Key Factors Driving Future Market Growth
8. SEA Used Car Future Market Segmentation
8.1. By Vehicle Type (In Value %)
8.2. By Vendor Type (In Value %)
8.3. By Fuel Type (In Value %)
8.4. By Sales Channel (In Value %)
8.5. By Country (In Value %)
9. SEA Used Car Market Analysts Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/ofng2t
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