
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Historical Data Period | 2019 - 2023 |
CAGR | 5.79 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Indonesia Used Car Market Analysis
The Indonesia Used Car Market is expected to register a CAGR of 5.79% during the forecast period.
Indonesia's robust economic performance continues to underpin the used car market's growth trajectory, with the country's economy demonstrating remarkable resilience. According to Indonesian Statistics (BPS), the economy grew by 5.31% year-over-year in the fourth quarter of 2022, driven by strong domestic demand and the acceleration of the National Strategic Program. This economic stability has fostered consumer confidence and spending power, particularly in the automotive sector. The growing middle class, increasing urbanization, and infrastructure development across the archipelago have created favorable conditions for the used car market's expansion. The market structure encompasses both formal channels, including authorized dealerships and certified pre-owned programs, and informal channels, providing diverse options for consumers across different income segments.
The digital transformation of Indonesia's automotive sector has revolutionized the way consumers interact with the online used car market. As of January 2024, the country's mobile internet penetration reached 79.5% of the population, with particularly high rates among Generation Z (87.02%) and Generation X (83.69%). This digital adoption has facilitated the emergence of sophisticated online platforms that provide comprehensive vehicle information, price comparisons, and virtual showroom experiences. The integration of digital payment solutions has further streamlined transactions, with the Quick Response Indonesian Standard (QRIS) system processing approximately 91.7 million transactions by August 2022.
The market has witnessed significant corporate activities and strategic partnerships that are reshaping the competitive landscape. In May 2024, Astra officially unveiled OLXmobi, a new platform merging mobbi, OLX Autos, and mobi88, demonstrating the industry's move toward consolidation and digital integration. Similarly, in June 2024, Carsome secured a significant financing facility of MYR 213.9 million (approximately USD 46.8 million) from AmBank to enhance its inventory and technological capabilities across Southeast Asia. These developments reflect the industry's evolution toward more organized and technologically advanced operations.
The financial services sector plays a crucial role in supporting market growth, with approximately 80% of Indonesian car purchases utilizing used car financing options as of 2023. The industry has seen notable developments in this area, such as Hyundai Capital Services' completion of PT Paramitra Multifinance's acquisition in April 2024, aimed at expanding automotive financial services across key regions. The market is characterized by a mix of traditional banking institutions and innovative fintech solutions, offering consumers various financing alternatives. The emergence of digital financing platforms has simplified the loan application process, while partnerships between automotive platforms and financial institutions have created integrated purchase experiences for consumers.
Indonesia Used Car Market Trends
Increased Demand for Used Cars Compared to New Cars
The Indonesian vehicle market demonstrates unique characteristics that make it particularly suitable for used car purchases, with only 15.4 million registered automobiles indicating significant room for growth in car ownership compared to other ASEAN nations. The affordability factor plays a crucial role in driving the used car market, as new cars often remain out of reach for many Indonesian consumers due to high prices and taxes. This trend has been particularly noticeable in tier-2 and tier-3 cities, where the demand for personal mobility continues to grow rapidly, supported by the increasing availability of well-maintained used vehicles.
The market dynamics are further shaped by the movement of vehicles from major urban centers to other regions as they age, with approximately 300,000 used cars changing hands monthly. This pattern has created a robust ecosystem where cars tend to migrate from Jakarta to other regions as they age, ensuring a steady supply of vehicles across different price points and conditions. The trend is reinforced by the growing presence of organized dealers and platforms that provide value-added services such as certified checkpoints for quality, flexible payment methods, and enhanced used car warranty periods, making used cars an increasingly attractive option for cost-conscious consumers.
Online Sales Channel for Used Cars is Gaining Momentum in Indonesia
The digital transformation of Indonesia's used car market has revolutionized the way consumers research and purchase vehicles, with online platforms emerging as the primary source for price comparison and vehicle selection. According to recent market analysis, 86% of consumers rely on online platforms as their top source for researching used car prices, significantly outpacing traditional channels such as social media (52%) and physical dealerships (27%). This shift towards digital platforms has been driven by the increasing internet penetration in Indonesia, where mobile internet users comprise 79.5% of the population as of January 2024, with particularly high adoption rates among Generation Z (87.02%) and Generation X (83.69%).
The market has witnessed significant investments and consolidations in the online space, demonstrating the sector's growth potential. In May 2024, Astra officially unveiled OLXmobi, a new platform that merges mobbi, OLX Autos, and mobi88 under the auspices of PT Astra Digital Mobil, creating a more integrated digital ecosystem for used car transactions. App developers have been enhancing mobile applications with advanced features that offer greater vehicle availability and comparable vehicle costs on a single platform, with several Android applications including brilio.net, OTO.com, Moladin, OTOS, OLX Autos, and CAR DEKHO providing comprehensive listings of used cars with diverse fleet options, including used SUVs and used electric vehicles.
Used Car Financing to Continue Solving Consumer Challenges in Indonesia
The financing sector has emerged as a crucial enabler in Indonesia's used car market, with approximately 80% of car purchases utilizing used car financing options. The industry has developed a sophisticated ecosystem where financing secured by used cars already comprises around 16% of the industry's lending portfolio, compared to approximately 30% for new vehicle sales. This financing infrastructure is supported by over 200 multi-finance companies operating in Indonesia, with both auto-owned and bank-owned businesses competing to provide competitive lending rates and flexible financing packages.
Recent developments in the financing sector demonstrate continued innovation and investment in the space. In June 2024, Carro secured a multi-currency loan of SGD 75 million from HSBC to support its fintech arm, Genie Financial Services, which specializes in automotive financing across Southeast Asia, including Indonesia. Additionally, in May 2023, Indonesian startup Broom successfully secured a USD 10 million pre-series A financing round, with the company rolling out its flagship service, Buyback, designed to bolster used car dealers by optimizing their inventory and expediting turnover. These used car financing solutions typically offer loans up to 70-75% of the used car price with repayment periods of up to five years, making vehicle ownership more accessible to a broader segment of the population.
Segment Analysis: By Vehicle Type
SUV Segment in Indonesia Used Car Market
The Sport Utility Vehicle (SUV) segment dominates the Indonesian used car market, accounting for approximately 38% of the total market revenue in 2024. This significant market share can be attributed to the growing preference for used SUVs among Indonesian consumers due to their versatility, elevated driving position, and ability to handle diverse road conditions. Popular models like the Toyota Fortuner, Honda CR-V, and Mitsubishi Pajero Sport have gained substantial traction in the used car market, offering a compelling combination of space, comfort, and perceived safety. The segment's strong performance is further supported by the increasing urbanization and improvement of road infrastructure across the archipelago, making used SUVs an attractive option for both city driving and occasional off-road adventures.

MPV Segment in Indonesia Used Car Market
The Multi-Purpose Vehicle (MPV) segment demonstrates the strongest growth trajectory in the Indonesian used car market, with a projected CAGR of approximately 7% during 2024-2029. This robust growth is driven by several factors, including the cultural importance of family travel, the need for spacious vehicles that can accommodate extended families, and the segment's practicality for both personal and small business use. Models like the Toyota Avanza, Daihatsu Xenia, and Honda Mobilio continue to attract buyers with their combination of seating capacity, fuel efficiency, and relatively low maintenance costs. The segment's growth is further enhanced by the increasing availability of newer MPV models in the used car market, offering improved features and technology while maintaining the fundamental benefits of space and versatility that Indonesian consumers value.
Remaining Segments in Vehicle Type Segmentation
The hatchback and sedan segments complete the vehicle type segmentation in the Indonesian used car market, each serving distinct consumer needs. Hatchbacks appeal to urban dwellers and first-time car buyers, offering compact dimensions ideal for city navigation while maintaining practical cargo space. Popular models in this category include the Toyota Yaris and Honda Jazz, which are valued for their fuel efficiency and ease of maintenance. The sedan segment, while smaller, maintains its significance in the market, particularly among professionals and business users who appreciate their refined driving characteristics and prestigious image. Models like the Toyota Corolla Altis and Honda Civic continue to find favor among buyers seeking a balance of comfort, performance, and status in the used car market.
Segment Analysis: By Booking Channel
Online Segment in Indonesian Used Car Market
The online booking channel dominates the Indonesian used car market, commanding approximately 71% of the total market share in 2024. This substantial market presence is driven by increasing internet penetration and smartphone usage across the country, with mobile internet users comprising nearly 80% of the population. The segment's growth is further supported by the emergence of various online platforms offering detailed vehicle information, virtual tours, and comprehensive services including vehicle history reports, price comparisons, and financing options. Many platforms now provide end-to-end online purchasing processes, including digital documentation and home delivery services, making it more convenient for consumers to purchase used cars. The integration of money-back guarantees, certified vehicle inspections, and partnerships with trusted dealerships has helped address trust concerns in online transactions, further solidifying this segment's market leadership.
Multi-brand Dealerships Segment in Indonesian Used Car Market
Multi-brand dealerships represent the fastest-growing segment in the Indonesian used car market, projected to grow at approximately 7% CAGR from 2024 to 2029. This growth is driven by these dealerships' ability to offer diverse inventory across different price points, ages, and conditions, providing options for various consumer segments. The segment's expansion is supported by increasing investments in digital presence, with many dealerships developing their websites and social media pages to tap into the online market. Multi-brand dealerships are also gaining popularity due to their competitive pricing for multi-brand car services, typically offering 10-20% lower costs compared to authorized service centers. This cost advantage, combined with the convenience of having multiple brands under one roof, makes these dealerships particularly attractive to post-warranty period vehicle owners.
Remaining Segments in Booking Channel
OEM-certified/authorized dealerships represent a significant segment in the Indonesian used car market, offering pre-owned vehicles that have undergone rigorous inspection and refurbishment processes according to manufacturer standards. These dealerships differentiate themselves through manufacturer-backed warranties, extended warranty options, and standardized vehicle inspection processes. The segment particularly appeals to consumers seeking premium quality assurance and willing to pay extra for manufacturer certification. The integration of digital elements into their operations, including online inventories and virtual showrooms, demonstrates their adaptation to changing consumer preferences while maintaining the trust associated with established brands.
Segment Analysis: By Purchase Methods
Financed Segment in Indonesia Used Car Market
The financed segment dominates the Indonesian used car market, accounting for approximately 66% of the total market value in 2024. This significant market share reflects Indonesian consumers' strong preference for financing options when purchasing used vehicles. Around 80% of car purchases in Indonesia utilize financing solutions, with used car financing comprising roughly 16% of the industry's lending portfolio. The segment's prominence is supported by various financial institutions, including banks, non-banking financial companies (NBFCs), and OEM captive financing arms, which offer competitive interest rates and flexible payment terms. These financing options typically cover up to 70-75% of the used car price, with repayment periods extending up to five years. The accessibility of financing has made used car ownership more attainable for a broader segment of the population, particularly in tier-2 and tier-3 cities where the demand for personal mobility continues to grow.
Growth Dynamics of Financed Segment in Indonesia Used Car Market
The financed segment is projected to experience robust growth, with an expected growth rate of approximately 7% during the forecast period 2024-2029. This growth trajectory is driven by several factors, including increasing digitalization of financial services, improved credit assessment mechanisms, and the expansion of fintech platforms in the automotive sector. Financial institutions are developing more sophisticated credit scoring models and leveraging technology to streamline the loan approval process, making it easier for consumers to access financing. The segment's growth is further supported by the rising middle class, urbanization, and the increasing acceptance of formal financing channels. Additionally, the emergence of innovative financing solutions, such as flexible payment plans and digital lending platforms, is expected to continue driving the segment's expansion in the coming years.
Segment Analysis: By Propulsion Type
ICE Segment in Indonesia Used Car Market
The Internal Combustion Engine (ICE) segment continues to dominate the Indonesian used car market, commanding approximately 97% market share in 2024. This overwhelming dominance can be attributed to several factors, including the widespread availability of fuel stations, lower initial purchase costs compared to newer technologies, and a well-established ecosystem for maintenance and repairs. Indonesian consumers have shown a particular affinity for compact and mid-size ICE vehicles, which are well-suited to navigate the country's often congested urban areas and varied road conditions. Popular brands in the used ICE market include Toyota, Honda, and Daihatsu, which have built strong reputations for reliability and fuel efficiency – key considerations for used car buyers. The segment's strength is further reinforced by a robust dealer network and a thriving informal market of individual sellers, with many Indonesians preferring to purchase used ICE vehicles due to their affordability, as the depreciation of new cars makes second-hand options particularly attractive to budget-conscious buyers.
EV Segment in Indonesia Used Car Market
The Electric Vehicle (EV) segment is emerging as the fastest-growing segment in Indonesia's used car market, projected to grow at a CAGR of approximately 13% during 2024-2029. This growth trajectory is being driven by increasing environmental awareness, government initiatives to promote cleaner transportation, and advancements in EV technology that have improved range and performance. In urban areas, particularly in Jakarta and other major cities, there has been a noticeable increase in the adoption of used electric vehicles, with more electric vehicles becoming available as early adopters upgrade to newer models. The Indonesian government has implemented various policies to encourage EV adoption, including tax incentives and plans for the development of a domestic EV industry. These initiatives are expected to increase the number of new EVs on the road, which will eventually feed into the used car market, potentially leading to greater variety and affordability of used EVs in the future. The expansion of charging infrastructure across the country is also playing a crucial role in boosting consumer confidence in EVs, although the pace of this expansion varies significantly between urban and rural areas.
Segment Analysis: By Brand
Toyota Motor Corporation Segment in Indonesia Used Car Market
Toyota Motor Corporation maintains its dominant position in Indonesia's used car market, commanding approximately 36% market share in 2024. The brand's strong performance is driven by popular models like the Toyota Avanza, Calya, and Rush that cater to diverse consumer needs across different vehicle segments. Toyota's certified pre-owned program "Toyota Trust" has strengthened its position by offering comprehensive 210-point inspections, warranty coverage, and after-sales support, providing customers with peace of mind when purchasing used vehicles. The brand's extensive dealer network, reliable service infrastructure, and strong reputation for quality have helped maintain its leadership position in Indonesia's used car market.
Kia Motors Segment in Indonesia Used Car Market
Kia Motors has emerged as one of the fastest-growing brands in Indonesia's used car market, projected to achieve approximately 50% growth annually from 2024 to 2029. This remarkable growth trajectory is driven by the increasing popularity of models like the Kia Sonet and Seltos in the compact SUV segment, which align well with Indonesian consumers' preferences for elevated driving positions and versatile vehicles. The brand's focus on technology integration, advanced safety features, and competitive pricing has resonated strongly with younger, tech-savvy buyers. Kia's strategic expansion of its dealer network and after-sales service infrastructure has also contributed to building consumer confidence in the brand's used vehicles.
Remaining Segments in Brand Segmentation
The Indonesian used car market features a diverse range of other automotive brands, each catering to specific consumer segments. Honda maintains a strong presence with its popular models like the Brio and HR-V, while Mitsubishi has carved out a niche with its Xpander and Pajero Sport models. Suzuki and Daihatsu focus on the value-conscious segment with their practical and fuel-efficient vehicles. Premium brands like Mercedes-Benz and BMW serve the used luxury car segment with their certified pre-owned programs, while emerging Chinese brands like Wuling and DFSK are gaining traction by offering feature-rich vehicles at competitive price points. Each brand contributes to the market's diversity by offering unique value propositions across different price segments and vehicle categories.
Indonesia Used Car Industry Overview
Top Companies in Indonesian Used Car Market
The Indonesian used car market features a mix of established dealership networks, online platforms, and certified pre-owned programs from major automotive manufacturers. Companies are increasingly focusing on digital transformation, with many traditional dealers expanding their online presence while pure-play digital platforms enhance their physical infrastructure. Market leaders are investing in comprehensive inspection processes, used car warranty programs, and after-sales services to build consumer trust and differentiate their offerings. Strategic partnerships between dealerships and financing providers have become increasingly common, enabling more flexible purchase options for customers. The industry is witnessing significant investment in technology infrastructure, including AI-powered pricing tools, virtual showrooms, and end-to-end digital transaction capabilities. Companies are also expanding their geographical presence beyond major cities to capture growing demand in tier-2 and tier-3 markets.
Market Structure Evolves Through Digital Integration
The Indonesian used car market is characterized by a combination of local conglomerates and specialized digital platforms, with traditional dealers adapting to the changing landscape. Major automotive groups like Astra International maintain a strong presence through their certified pre-owned programs and dealership networks, while tech-enabled platforms are disrupting the traditional business model with innovative solutions. The market remains relatively fragmented, with numerous independent dealers operating alongside organized players, though consolidation is gradually occurring through mergers and acquisitions, particularly in the digital space. The emergence of integrated platforms offering both online and offline services has created new competitive dynamics, pushing traditional players to modernize their operations and digital capabilities.
Recent market developments indicate a trend toward vertical integration, with companies expanding across the value chain to include financing, insurance, and after-sales services. Major automotive groups are leveraging their brand reputation and extensive networks to strengthen their position in the used car segment, while digital platforms are focusing on building trust through transparent pricing and comprehensive vehicle inspections. The market is seeing increased investment from both domestic and international players, leading to enhanced service offerings and improved customer experiences across all channels.
Innovation and Trust Drive Market Success
Success in the Indonesian used car market increasingly depends on building consumer trust through transparent operations and reliable service offerings. Companies that can effectively combine digital capabilities with physical infrastructure while maintaining strong quality control measures are better positioned to capture market share. The ability to provide comprehensive financing solutions, particularly through partnerships with financial institutions, has become a critical success factor. Market players must also focus on developing strong brand recognition and customer loyalty programs while maintaining competitive pricing strategies to retain their market position.
For new entrants and smaller players, success lies in identifying and serving underserved market segments or geographical areas. Companies need to invest in technology infrastructure while building strong relationships with suppliers and maintaining efficient inventory management systems. The regulatory environment, particularly regarding vehicle documentation and financing, continues to influence market dynamics and operational strategies. Players must also consider the growing importance of environmental regulations and changing consumer preferences toward more fuel-efficient vehicles. Building a strong network of partnerships, including with insurance providers, maintenance services, and financing institutions, remains crucial for long-term success in this evolving market.
Indonesia Used Car Market Leaders
-
Carro
-
Caroline
-
OLX
-
Carsome
-
iCar Asia
- *Disclaimer: Major Players sorted in no particular order

Indonesia Used Car Market News
- May 2022: The Indonesian division of used automotive marketplace Carsome signed a collaboration agreement with Indonesian Bank Jago Tbk for automotive financing to support Carsome Indonesia's business, which focuses on buying and selling used cars online.
- November 2021: Hyundai introduced the Hyundai Smart Deal, an innovative financing solution that enables customers to own a Hyundai car with significantly reduced costs of up to 50%. The program offers worry-free maintenance benefits and guarantees a remarkable 70% resale value when trading in the vehicle for a new Hyundai car after completing the last installment.
- September 2021: Mobil88 unveiled the Mo88i application, revolutionizing the process of buying and selling used cars. Mo88i serves as a reliable and efficient platform, streamlining every step, from car inspections to estimated bid prices and concluding with hassle-free financing and vehicle insurance submissions. This user-friendly application ensures a trusted, easy, and fast experience for both buyers and sellers, simplifying the journey of purchasing or selling used cars with unparalleled convenience.
Indonesia Used Car Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Market Drivers
- 4.1.1 Expanding Distribution Channels
- 4.1.2 Others
-
4.2 Market Restraints
- 4.2.1 Lack Of Trust And Transparency
- 4.2.2 Others
-
4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 Vehicle Type
- 5.1.1 Hatchback
- 5.1.2 Sedan
- 5.1.3 Sport Utility Vehicle (SUV)
- 5.1.4 Multi-purpose Vehicle (MPV)
-
5.2 Booking Channel
- 5.2.1 Online
- 5.2.2 OEM Certified/Authorized Dealerships
- 5.2.3 Multi Brand Dealerships
-
5.3 Financing Providers
- 5.3.1 OEMs
- 5.3.2 Banks
- 5.3.3 Non-Banking Financial Companies
-
5.4 Province
- 5.4.1 West Java
- 5.4.2 East Java
- 5.4.3 Central Java
- 5.4.4 North Sumatra
- 5.4.5 Banten
- 5.4.6 Other Provinces
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share**
-
6.2 Company Profiles*
- 6.2.1 Mobil88
- 6.2.2 Toyota Astra Motor (Toyota Trust)
- 6.2.3 Pt Tunas Ridean Tbk.
- 6.2.4 Diamond Smart Auto
- 6.2.5 Suzuki Auto Value
- 6.2.6 Mercedes Certified
- 6.2.7 BMW Premium Selection
- 6.2.8 OLX Indonesia
- 6.2.9 Cars24
- 6.2.10 Caroline
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Indonesia Used Car Industry Segmentation
The Indonesian used car market refers to the segment of the automotive industry that involves the buying, selling, and trading of pre-owned vehicles in Indonesia. It encompasses a wide range of vehicles, including sedans, hatchbacks, SUVs, and vans, that have been previously owned and used by individuals or businesses.
Indonesia used car market is segmented by vehicle type, booking channel, financing providers, and province. By vehicle type, the market is segmented as the hatchback, sedan, sport utility vehicle (SUV), and multi-purpose vehicle (MPV). By booking channel, the market is segmented as online, OEM certified/authorized dealerships, and multi-brand dealerships. By financing providers, the market is segmented as OEMs, banks, and non-banking financial companies, and by province, the market is segmented as West Java, East Java, Central Java, North Sumatra, Banten, and Other Provinces.
The report offers market size and forecasts for all the above segments in value (USD).
Vehicle Type | Hatchback |
Sedan | |
Sport Utility Vehicle (SUV) | |
Multi-purpose Vehicle (MPV) | |
Booking Channel | Online |
OEM Certified/Authorized Dealerships | |
Multi Brand Dealerships | |
Financing Providers | OEMs |
Banks | |
Non-Banking Financial Companies | |
Province | West Java |
East Java | |
Central Java | |
North Sumatra | |
Banten | |
Other Provinces |
Indonesia Used Car Market Research FAQs
What is the current Indonesia Used Car Market size?
The Indonesia Used Car Market is projected to register a CAGR of 5.79% during the forecast period (2025-2030)
Who are the key players in Indonesia Used Car Market?
Carro, Caroline, OLX, Carsome and iCar Asia are the major companies operating in the Indonesia Used Car Market.
What years does this Indonesia Used Car Market cover?
The report covers the Indonesia Used Car Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Indonesia Used Car Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Indonesia Used Car Market Research
Mordor Intelligence provides a comprehensive analysis of the used car industry in Indonesia. We leverage our extensive experience in automotive market research. Our detailed report covers all segments, including previously owned car sales, used automobile trends, and emerging used car dealership networks. The analysis encompasses various vehicle categories. These include used truck, used SUV, used electric vehicle (used EV), used luxury car, and used commercial vehicle segments. Stakeholders can access crucial insights available in an easy-to-read report PDF format for download.
The report offers valuable intelligence on used car valuation methodologies, used car leasing options, and used car warranty programs across Indonesia. We examine the growing online used car marketplace, used car financing solutions, and used car inspection standards. The analysis also covers CPO vehicle programs, used car auction dynamics, wholesale used car operations, and used car export trends. This enables stakeholders to make informed decisions based on a comprehensive market understanding. Our research methodology incorporates real-time data on market value of used car metrics, providing actionable insights for industry participants.