Increasing Internet Penetration and Competitive Used Car Financing Schemes to Drive Indonesia Used Car Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The gross transaction value of the overall used car industry in Indonesia increased at a CAGR of 9.7% from 2011 to 2016. Growth in macro-economic variables coupled with a positive investment climate led to decreasing car ownership pattern during this period. Increasing discretionary income incentivized individuals to purchase cars at shorter intervals, accelerating growth in sales of new and used car during this period. The entry of a large number of organized players had stimulated growth in the sales of used cars during this period. However, stiff competition caused many dealers to reduce prices/margins on used cars resulting in low revenue growth during this period. Higher sales of entry level cars (economy cars/hatchbacks) and MPV’s have pushed the revenues of used car market during this period. The used car market in Indonesia was historically been dominated by unorganized players including local used car dealers, car owners and road side mechanics that not certified by the government. Word of mouth advertising was one of the main marketing channels and no major companies were operating in the used car space. The lack of organized players in the used car business has implied low choice and information asymmetry for buyers. In recent times, more Indonesians are finding internet-based stores to be a boon in their increasingly busy daily lives. With the rising internet penetration, consumers are slowly shifting away from the traditional methods of shopping. The advent of online auto classified portals such as Carmudi, OLX and Mobil88 have streamlined the used car industry in the country. There is more transparency in the market and buyers have a wide variety of brands and models to choose from the convenience of their home. It has been estimated that 36% of car dealers have reported to be focused only on internet and online advertising of their vehicles. In addition to this, social media is also a means being explored by many individuals and car dealers. Around 9% of dealers use Facebook and Instagram to advertise their car list and connect with potential buyers. Maximum sales of used cars through online mode are generated from young individuals within the age group of 21-34 years. Older people (above 45 years) prefer to get a physical look and feel of the car before making purchase decisions. According to Research Analyst at Ken Research, Multi-brand car showroom dealers must focus on target car segments while online-auto portals should offer competitive listing fee while aiding potential used car buyers in transfer of ownership. It is also essential that the government sets up a used car association in order to further streamline the market and maintain accountability while reducing tedious documentation process for transfer of car ownership. Local dealers can ensure a steady customer base by maintain effective relationship with existing clients and offering extended warranties. Banking and Financial institutions should look to increase the loan tenure for used car financing while providing competitive interest rates. The report titled “Indonesia Used Car Industry Outlook to 2021 – Increasing Online Used Car Portals and Competitive Used Car Financing Schemes to Foster Future Growth” provides a comprehensive analysis regarding the performance of the Used Car Industry in Indonesia. This report will help industry consultants, local used car dealers, online auto-portals; multi-brand used car showroom dealers, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future. For More Information about the publication, refer to the below link:- https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-report/79410-100.html Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Competition Used Car Industry, Indonesian Car Sales Statistics Used Car Transaction Volume, Local Dealers Sales Used Cars, Preowned Car Market, Second Hand Car Industry Growth, Used Car Dealer Sales, Used Car Sales Growth