Thailand Used Car Market Outlook To 2025
Growth of Online Used Car Platforms and Easy Availability of Credit Escalating Industry Growth
July 2021
111
About the Report
About the Report
The report titled “Thailand Used Car Market Outlook To 2025 – Growth of Online Used Car Platforms and Easy Availability of Credit Escalating Industry's Growth” provides a comprehensive analysis on the status of the used car industry in Thailand. The report covers various aspects including volume of used cars & market size, production scenario of new cars in the country, target audience, growth facilitators, issues & challenges faced by the industry, and other aspects. Thailand Used Car Industry report concludes with projections for future of the industry including forecasted sales revenue and volume by 2025, market segmentations, Covid-19 impact and analysts’ take on the future.
Thailand Used Car Market Overview and Size:
Thailand Used Car sector is in the maturity phase, growing at a CAGR of 1.8% during 2014-2020. Increasing demand for private vehicles, reduction in purchasing power, easy availability of finance, and increasing VAT on new cars are the main reasons behind positive growth in used car sales revenue. Another major driver is the drop in use of public transport due to the pandemic and need for private vehicle.
Thailand Used Car Market Segmentations
By Market Type (C2C, B2C/OEM, and Auction): B2C/OEM Organized market dominated the used car industry in Thailand in 2020 on
the basis of value and volume. The presence of major OEM is concentrated in the Bangkok, Vicinity and Tier-2/Tier-3 cities; However, Multibrand dealers are present throughout the country, both online and offline.
By Type of Car: 1 Ton pickup truck dominates the market. This is majorly due to the fact that it has both commercial and personal utility. Also, the taxes on these vehicles are low as compared to sedan and economical cars as majority of these vehicles are bought by farmers.
By Kilometers Driven: Cars with running of 80,000- 120,000 kilometers dominate the market. This is mainly due to the reason that 1 ton pickup trucks constitute the most of the market. As they have commercial usage the odometer reading in the vehicles of the country is quiet high.
By Ownership Period: Since the finance for used and new car is readily available in the country the ownership period of the cars has been decreasing. Majority of the market share is acquired by cars having age of 5-8 years
By Region: Used car are majorly concentrated in Bangkok due to higher purchasing power as compared to other regions. The Northeastern region has the second highest used car sales volume due to strong economic growth from increasing cross-border trade supported by the presence of special economic zones
Snapshot on Online Used Two Wheeler Landscape
The online used car market has been emerging with the rise in the popularity of e-commerce platforms in the country. The growth of online advertising, which has fuelled the rise of online classified platforms such as iCar Asia, CarSome, Carro and others have revolutionized the way in which pre-owned vehicles have been sold in the country. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions and other value added services. The Overall Online Market is expected to Increase at a double Digit Positive CAGR during the period 2020-2025.
Competitive Landscape of Thailand Used Car Market
Used Car Market in Thailand has been dominated by B2C and OEM Dealerships which has captured a share of majority share in the sales volume of used cars during 2020. In the OEM segment, Toyota and Honda together account for majority of market. Both foreign as well as domestic companies are present in the market. These players compete on parameters such as proximity, value added services, prices, promotional offers and tie ups with major financial institution. In order to increase their revenue, the players offer free gifts and warranty as a part of promotion.
Thailand Used Car Future Outlook & Projections
The used car industry is expected to recover from the Covid-19 pandemic and witness growth by 2025. The increasing need for use of private vehicle in order to avoid public transport is expected to fuel the sales of used cars. The sales of economical cars are also expected to increase over the forecast period. The Used Car Market is expected to witness investment in promotional and marketing activities and also strategic partnerships of domestic and foreign players.
Key Segments Covered
By Market Type
- C2C
- B2C/OEM organized
Multi Brand Organized Dealer
Multi Brand Unorganized Dealer
OEM Organized - Auction
By Car Segment
- Hatchback
- 1 ton pickup
- Sedan
- MPV, HPV/Mini MPV
- SUV
By Region
- Bangkok
- North East
- North
- South
- East
- West
By Kilometers Driven
- Less than 20,000
- 20,000-50,000
- 50,000-80,000
- 80,000-120,000
- Above 120,000
By Age of Vehicle
- Less than 1 year
- 1-3 years
- 3-5 years
- 5-8 years
- More than 8 years
By Age of Buyers
- 20-30 Years
- 30-50 Years
- Above 50 Years
By Source of Lead
- Online (Social Media/Car Portals/Official Website)
- Offline (Dealership Walk-in)
Companies Covered (OEM Dealerships)
- Toyota Sure Thailand
- Honda Used Certified Thailand
- Mitsubishi Diamond Used Car
- Nissan Intelligence
- Mercedes Certified
- Volvo
Companies Covered (Online Portals)
- iCar Asia( One2Car, Thaicar, Autospinn)
- Carsome Thailand
- Carro Thailand
Key Target Audience
- Used Car Companies
- OEMs
- 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 – 2014-2020
- Forecast Period – 2021-2025
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Thailand Used Car Market Overview
- Thailand Used Car Market Size, 2014-2020
- Thailand Used Car Market Segmentation, 2020
- Growth Drivers in Thailand Used Car Market
- Issues and Challenges in Thailand Used Car Market
- Regulatory Framework
- Snapshots on Used Car Financing
- Snapshot on Auction Market
- Snapshot on Used Bike Market
- Ecosystem and Value Chain of Used Car Industry in Thailand
- Customers Purchase Decision-Making Parameters
- Cross Comparison between Major OEMs and Multiband Dealers and Company Profiles & Product Portfolios
- Future Market Size and Segmentations, 2021-2025F
- Covid-19 Impact on the Industry & the Way Forward
- Analysts’ Recommendations
Products
Products
Key Segments Covered
By Market Type
- C2C
- B2C/OEM organized
Multi Brand Organized Dealer
Multi Brand Unorganized Dealer
OEM Organized - Auction
By Car Segment
- Hatchback
- 1 ton pickup
- Sedan
- MPV, HPV/Mini MPV
- SUV
By Region
- Bangkok
- North East
- North
- South
- East
- West
By Kilometers Driven
- Less than 20,000
- 20,000-50,000
- 50,000-80,000
- 80,000-120,000
- Above 120,000
By Age of Vehicle
- Less than 1 year
- 1-3 years
- 3-5 years
- 5-8 years
- More than 8 years
By Age of Buyers
- 20-30 Years
- 30-50 Years
- Above 50 Years
By Source of Lead
- Online (Social Media/Car Portals/Official Website)
- Offline (Dealership Walk-in)
Key Target Audience
- Used Car Companies
- OEMs
- 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 – 2014-2020
- Forecast Period – 2021-2025
Companies
Companies Covered (OEM Dealerships)
- Toyota Sure Thailand
- Honda Used Certified Thailand
- Mitsubishi Diamond Used Car
- Nissan Intelligence
- Mercedes Certified
- Volvo
Companies Covered (Online Portals)
- iCar Asia( One2Car, Thaicar, Autospinn)
- Carsome Thailand
- Carro Thailand
Table of Contents
Table of Contents
Thailand Used Car Market
1. Executive Summary
2. Flow Chart of Thailand Used Car Industry
3. Country and Automotive Industry Overview
3.1 Macroeconomic Overview of Thailand
3.2 Ease of Doing Business in Thailand
3.3 Key Demographics of Thailand
3.4 Comparison of Thai Automobile Industry with Other ASEAN Nations
5. Overview of Public Transport
6. Overview, Opportunity & Current Scenario of the Thailand Used Car Industry
6.1 Used Car Industry Eco-System
6.2 Value Chain Analysis
6.3 Sourcing of Used Cars
6.4 Lead Generation for Used Cars
6.5 Trends & Developments
6.6 Issues and Challenges
6.7 Industry SWOT Analysis
6.8 Regulatory Landscape
6.9 Demand & Supply Side Analysis
6.10 Customer Timeline for Used Car
7. Market Size of Thailand Used Car Industry (On the Basis Sales Volume) 2014-2020
7.1 By Market Structure, 2020
7.2 Further Segmentation of B2C and OEM organized, 2020
7.3 By Brand, 2020
7.4 By Age of Vehicle, 2020
7.5 By Kilometer Driven, 2020
7.6 By Type of Car, 2020
7.7 By Region, 2020
7.8 By Customers’ Profile basis Age Group, 2020
8. Used Car Financing Snapshot
8.1 Used Car Financing Ecosystem
8.2 Overview of Used Car Financing Industry
8.3 Used Car Financing Practices in Thailand (Recent Developments, Contractual Terms, Examples of Fintech Aggregators)
9. Snapshot on Used Car Auctions (Bank Repossessed Cars, Leasing Cost Fleet and Others)
10. Competitive Landscape – OEM Certified/Authorized and Multi-Brand Dealers
10.1 Customer Pain Points in Used Car Industry and Used Car Journey on Online Platforms
10.2 Operating Models Currently Prevalent in Thailand
10.3 Competition Scenario- Market Positioning of Major Online Auto-Classifieds/ Platforms
10.4 Cross Comparison between Major OEM/Multi Brand Dealerships basis Operational Parameters (Focus Area, Vintage, Geographical Presence, Partnerships, Strength, Weakness, Number of Dealerships, Established, Warranty Period, Number of Quality Checkpoints and Emergency Assistance
10.5 Cross Comparison between Major OEM/Multi Brand Dealership basis Service Offerings (Certification, Warranty, 24*7 Roadside Assistance, Trade-In Facility, Online Website and Financing Option)
12. Online Classified and Auto Portals
12.1 Competition Scenario- Market Positioning of Major Online Auto-Classifieds/ Platforms
12.2 Cross Comparison between Major Auto-Classifieds/Platforms basis Service Offerings (Free Listing, Premium Listing Service, Commission Charged, Vehicle Inspection, Online Car Valuation, Financing Option, Warranty and others
12.3 Company Profiles (Icar Asia Thailand, Carsome & Carro)
13. Case Study Analysis
14. Thailand Used Car Industry Future Outlook
14.1 Covid-19 Impact: Used Car Industry in Thailand
14.2 Future Outlook of Used Car Industry, 2020-2025F & the Way Forward
14.3 Future Market Segmentations, 2025F
15. Industry Speaks
16. Analyst Recommendations
Disclaimer
Contact Us
Why Buy From US?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.
If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.