Southeast Asia Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Southeast Asia Used Car Market Report is Segmented by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle (SUV), and Multi-Purpose Utility Vehicle (MPV)), Fuel Type (Gasoline, Diesel, and Other Fuel Types), Booking Type (Online and Offline), Vendor (Organized and Unorganized), and Country. The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

Southeast Asia Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Southeast Asia Used Car Market Size

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Southeast Asia Used Car Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 69.66 Billion
Market Size (2030) USD 96.12 Billion
CAGR (2025 - 2030) 6.65 %
Market Concentration Low

Major Players

Southeast Asia Used Car Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Southeast Asia Used Car Market Analysis

The South-East Asian Used Car Market size is estimated at USD 69.66 billion in 2025, and is expected to reach USD 96.12 billion by 2030, at a CAGR of 6.65% during the forecast period (2025-2030).

Consumers' growing preference for private transportation, an increase in personal disposable income and GDP per capita, the emergence of online technologies, and increasing new vehicle prices serve as the major determinants for the growth of the used car market in Southeast Asia.

  • According to the Office of the National Economic and Social Development Council, Rayong, Bangkok, and Chon Buri were the leading regions in Thailand with the highest gross provincial product (GPP) per capita at market prices in 2022. The GPP per capita in Rayong touched THB 1,003.5 thousand (USD 27 thousand), followed by Bangkok, with GPP per capita reaching THB 634.11 thousand (USD 17 thousand) in 2022.

As financial stability rises, Southeast Asian consumers increasingly favor private transportation for enhanced personal mobility. However, the escalating prices of new vehicles dissuade some, fueling a growing appetite for used cars. In Southeast Asia, numerous unorganized dealers are offering prices significantly lower than their organized counterparts, thus intensifying market fragmentation and competition. This serves as a notable challenge for the used car market in the region.

The government's aggressive strategy to promote the electrification of vehicle fleets and phasing out of petrol/diesel cars to promote the reduction in carbon emissions may aid the demand for used vehicles across Southeast Asia during the forecast period. Consumers willing to purchase cheaper alternatives to new-energy vehicles are increasingly adopting used cars for convenience in mobility.

South East Asian Used Car Industry Overview

The Southeast Asian used car market is highly fragmented and competitive due to various international and domestic players operating in the ecosystem. Some prominent players include Carro, Carsome, Cars24 Services Pvt. Ltd, Oto, Carmudi, and Automart PH. These contenders fiercely compete on multiple fronts, from pricing and online visibility to value-added services like warranties and financing, the depth of their car listings, and detailed vehicle performance data availability.

  • In March 2024, Honda Malaysia unveiled plans to extend its Honda Certified Used Car Business, targeting a network of 32 sales outlets across Malaysia. The move aims to bolster the nation's used car market, offering consumers a reliable option through a trusted platform. Honda Malaysia emphasized its commitment to providing vehicles aged five years and younger to its Malaysian clientele.
  • In January 2024, Carro, an online used car platform from Singapore, inaugurated two new branches in Thailand: Kingkaew and Tiwanon. This strategic expansion underscores Carro's pursuit of the region's promising market. With these additions, Carro's branch count in Thailand reached five by January 2024.

Many companies within this ecosystem are proactively venturing into the online used car market, aiming to strengthen their brand presence and expand their operations across Southeast Asian countries.

South-East Asian Used Car Market Leaders

  1. Carro

  2. Carsome Sdn Bhd (including iCar Asia)

  3. Cars24 Services Private Limited

  4. Oto

  5. Carmudi

  6. *Disclaimer: Major Players sorted in no particular order
South-East Asian Used Car Market Concentration
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South-East Asian Used Car Market News

  • June 2024: Cambodia's government rejected a proposal for a blanket ban on used car imports, opting instead to focus on regulating the industry. The new strategy involves setting a cap on the age of imported vehicles and mandating annual inspections.
  • March 2024: Carro intensified its efforts to go public, with a critical move being the rebranding of its subsidiary, MyTukar, in Malaysia. This comprehensive rebranding, encompassing the entire MyTukar portfolio, marketing materials, and logo, will unfold over the next few months.
  • November 2023: Carro, a Singapore-based used car brand, unveiled plans to secure an investment of USD 100 million ahead of its IPO. Carro is now eyeing further funding, having already amassed a substantial USD 1 billion through a blend of debt and equity, with major backers including Softbank Corp. and GIC.

Southeast Asia 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 Rising Sales Through Online Channels Foster Market Growth
  • 4.2 Market Restraints
    • 4.2.1 Presence of Various Unorganized Used Car Dealers Hampers Market Growth
  • 4.3 Industry Attractiveness - 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 (Market Size in Value - USD and Volume - Units)

  • 5.1 By Vehicle Type
    • 5.1.1 Hatchback
    • 5.1.2 Sedan
    • 5.1.3 Sports Utility Vehicle (SUV)
    • 5.1.4 Multi-Purpose Utility Vehicle (MPV)
  • 5.2 By Fuel Type
    • 5.2.1 Gasoline
    • 5.2.2 Diesel
    • 5.2.3 Electric
    • 5.2.4 Other Fuel Types (LPG, CNG, Etc.)
  • 5.3 By Sales Channel
    • 5.3.1 Online
    • 5.3.2 Offline
  • 5.4 By Vendor Type
    • 5.4.1 Organized
    • 5.4.2 Unorganized
  • 5.5 By Purchase Method
    • 5.5.1 Outright Purchase
    • 5.5.2 Financed Purchase
    • 5.5.2.1 Captive Financing
    • 5.5.2.2 Bank Financing
    • 5.5.2.3 Non-banking Financial Corporations (NBFC)
  • 5.6 By Country
    • 5.6.1 Vietnam
    • 5.6.2 Indonesia
    • 5.6.3 Malaysia
    • 5.6.4 Thailand
    • 5.6.5 Singapore
    • 5.6.6 Other Countries

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles*
    • 6.2.1 Carro
    • 6.2.2 Carsome Sdn Bhd
    • 6.2.3 Cars24 Services Private Limited
    • 6.2.4 Carousell
    • 6.2.5 Mercedes-Benz Group
    • 6.2.6 Carmix (Laus Auto Group)
    • 6.2.7 OLX Indonesia
    • 6.2.8 Toyota U Trust (Toyota Motor Corporation)
    • 6.2.9 Honda Certified Pre Owned Vehicles (Honda Motor Corporation)
    • 6.2.10 Oto
    • 6.2.11 Carmudi
    • 6.2.12 Automart PH

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Improved Focus on Extending Value-added Services such as Financing and Insurance Options to Fuel Market Demand
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Southeast Asia Used Car Industry Segmentation

A used car, also known as a pre-owned or secondhand vehicle, refers to a car with one or more previous retail owners. The scope of the report also includes certified pre-owned used cars sold by original equipment manufacturers (OEMs).

The Southeast Asian used car market is segmented by vehicle type, fuel type, sales channel, vendor type, purchase method, and country. By vehicle type, the market is segmented into hatchback, sedan, sports utility vehicle (SUV), and multi-purpose vehicles (MPVs). By fuel type, the market is segmented into gasoline, diesel, electric, and other fuel types (LPG, CNG, etc.). By sales channel, the market is segmented into online and offline. By vendor type, the market is segmented into organized and unorganized. By purchase method, the market is segmented into outright purchase and financed purchase (captive financing, bank financing, and non-banking financial corporation (NBFC)). By country, the market is segmented into Vietnam, Indonesia, Malaysia, Thailand, Singapore, and other countries.

The report offers market size and forecasts for the used cars in value (USD) and volume (units) for all the above segments.

By Vehicle Type Hatchback
Sedan
Sports Utility Vehicle (SUV)
Multi-Purpose Utility Vehicle (MPV)
By Fuel Type Gasoline
Diesel
Electric
Other Fuel Types (LPG, CNG, Etc.)
By Sales Channel Online
Offline
By Vendor Type Organized
Unorganized
By Purchase Method Outright Purchase
Financed Purchase Captive Financing
Bank Financing
Non-banking Financial Corporations (NBFC)
By Country Vietnam
Indonesia
Malaysia
Thailand
Singapore
Other Countries
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Southeast Asia Used Car Market Research FAQs

How big is the South-East Asian Used Car Market?

The South-East Asian Used Car Market size is expected to reach USD 69.66 billion in 2025 and grow at a CAGR of 6.65% to reach USD 96.12 billion by 2030.

What is the current South-East Asian Used Car Market size?

In 2025, the South-East Asian Used Car Market size is expected to reach USD 69.66 billion.

Who are the key players in South-East Asian Used Car Market?

Carro, Carsome Sdn Bhd (including iCar Asia), Cars24 Services Private Limited, Oto and Carmudi are the major companies operating in the South-East Asian Used Car Market.

What years does this South-East Asian Used Car Market cover, and what was the market size in 2024?

In 2024, the South-East Asian Used Car Market size was estimated at USD 65.03 billion. The report covers the South-East Asian Used Car Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South-East Asian Used Car Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Southeast Asia Used Car Industry Report

Statistics for the 2025 South-East Asian Used Car market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South-East Asian Used Car analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.