South-East Asian Used Car Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South-East Asian Used Car Market is Segmented By Fuel Type (Gasoline, Diesel and Electric), Booking type (Online booking, Offline), and Country.

Market Snapshot

South-East Asian Used Car Market_Overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 6.7 %

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Market Overview

The ASEAN Car Rental Market is anticipated to register a CAGR of about 6.7% during the forecast period (2020 – 2025).

  • Consumers are unwilling to invest hugely in newer commodities and opting to purchase used-products. As a result, we see the Used Car industry on the rise. Used car platforms have proven to be widely safe, accessible, and available at reasonable prices.
  • The sales of used cars are 1.3 times compared to that of new vehicles. Also, its is expected that this ratio will double in the coming decade. Various factors, including population rise along with growth in the economy, are making the South East Asian counties the fastest and also an attractive economic market to the investors.
  • The automotive e-commerce has grown at a staggering rate in Thailand, and Indonesian markets, with almost 100% of used car customers beginning their car shopping experience online. This gives the car dealers to provide faster digital service and more accessible options to advertise their listings. Today over 70% of used car dealers in the South East Asian market, use the internet.

Scope of the Report

The South East Asian Used Car Market covers the current and upcoming trends with recent technological development. The report contains a detailed analysis of various areas of the market by type, duration, and application. The market share of significant automotive rental companies across the South-East Asia market will be provided in the report.

Fuel Type
Booking Type

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Key Market Trends

Strengthening of Online Infrastructure is Positively Affecting the Market

The penetration of smartphones and the internet in emerging economies, especially in South East Asia Pacific, is increasing. The used car market is getting more organized because used car retailers are using digitalization to make market offerings attractive. Facilities like an enormous number of photos and videos on the online platform and secure online instant finance service are attracting customers to buy used cars. The primary reason behind this is that consumers prefer safety, transparency, convenience, and negligible risk while purchasing used cars, which, in turn, provides the organized sector an upper edge compared to the unorganized sector.

Millennials today are also considering the purchase of used cars over newer ones with a higher focus on the cost compared to the brand names. Millennials are much tech-savvy, resulting in used-car sellers to focus on strengthening their online infrastructure. As a result, we see the online marketplace adapting to proprietary pricing algorithms to inspect and evaluate vehicles. This has also helped companies improve its used-car trade and transactional framework.

However, ASEAN cities have jam-packed roads. With the increasing number of vehicles, the existing infrastructure is unable to meet everybody’s needs, and the government is pushing towards the use of public transport. The automobile production growth rate has remained stagnant over the last few years in the South Asian nations. These factors will be hindering the purchase of used cars as well. Nevertheless, the used car market remains successful compared to the newer car, especially to those who opt for compact and budget-friendly options.

South-East Asian Used Car Market_Key Market Trend1

Indonesia is the Largest Exporter of Used Cars in the Region

Due to rise in population, improved opportunities, affordability, and higher GDP growth rate the consumption for car purchases is increasing .The Philippines, car dealers, have become more digital when it comes to advertising their listings with over 60% of the dealers using the internet, about half advertising on their online platforms and social media. In Singapore, companies such as Carro also provides buyers with after-sale care, including roadside assistance, as well as lending and insurance options through its Genie Financial Services unit, to have the edge over other used car dealers.

Japanese companies have cultivated the market for second-hand autos in South East Asia. Counties like Indonesia seeing its sales for new cars double between 2008 and 2012. But due to this, the inventory for used cars has grown large in 2019. As a result, today, a large number of consumers are selling their older vehicles oversees and to other developing nations at many affordable prices.

Soon there will see a rise in the market for used E-vehicles as well. The Singaporean government has also granted an exemption of registration fees for battery-operated/electric vehicles and even an exemption to permits to E-Vehicles running on ethanol and methanol fuels. The Indonesian government plans to collaborate with the manufacturers to increase the country's electric vehicle fleet size. However, the high cost of the battery and thus of E-vehicles is the key factor hindering the growth of the market.

South-East Asian Used Car Market_Key Market Trend2

Competitive Landscape

The ASEAN Car Rental Market is hugely fragmented with various startups and regional players such as Hertz Car Sales, Penske cars, Carousell, Carro, Emil Frey, and Pendragon PLC. Although to have the edge over its competitors, the major rental companies are making joint-ventures, partnerships to launch newer products.

For instance, Recently, Two Southeast Asian used-car sale platforms Carousell and Carro, the Singapore-based mobile listing service for private-party transactions, announced USD 85 million Series C fund and USD 60 million Series B funding in 2018.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Fuel Type

      1. 5.1.1 Gasoline

      2. 5.1.2 Diesel

      3. 5.1.3 Electric

    2. 5.2 Booking Type

      1. 5.2.1 Offline

      2. 5.2.2 Online

  6. 6. Geography

    1. 6.1 South-East Asia

      1. 6.1.1 Vietnam

      2. 6.1.2 Indonesia

      3. 6.1.3 Malaysia

      4. 6.1.4 Thailand

      5. 6.1.5 Singapore

      6. 6.1.6 Rest of South-East Asia


    1. 7.1 Vendor Market Share

    2. 7.2 Company Profiles

      1. 7.2.1 Hertz Cars

      2. 7.2.2 Penske Cars

      3. 7.2.3 Carousell

      4. 7.2.4 Emil Frey

      5. 7.2.5 Carro

      6. 7.2.6 Pendragon PLC

      7. 7.2.7 Carsome

    3. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The South-East Asian Used Car Market market is studied from 2018 - 2026.

The South-East Asian Used Car Market is growing at a CAGR of 6.7% over the next 5 years.

Hertz Car Sales, Penske Cars, Carousell, Emil Frey, Carro are the major companies operating in South-East Asian Used Car Market.

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