Singapore Used Car Market, Research Report, Size, Share, Demand, Industry Analysis, Growth, Demand, Covid-19 Impact, and Future Outlook 2021 to 2027: Ken Research REQUEST FOR SAMPLE REPORT 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 Buy Now Executive Summary The report titled “Singapore Used Car Market Outlook To 2025: Increasing Used Cars Demand Due to the Pandemic Contributes to Increase in Used Cars Sales during the Economic Crisis”- provides a comprehensive analysis of the used car market trends and performance in Singapore. The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on. The report also covers a snapshot on Singapore online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. Singapore Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario. Singapore Used Car Market Overview and Size: Singapore Used Car market is in its growth phase, increasing at a CAGR of -3.1% (by value in SGD Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in Singapore. Singapore Used Car Market Segmentations By Market Structure (Organized, and Unorganized): The used car market in Singapore is primarily dominated by the organized segment occupying more than 90% of the overall used cars market space. By Organized Market Source of Lead generation (Online, Dealership walk-ins): In Singapore, the Used Car market has carved a niche in the online space. Majority of the lead generation for used cars happened via the online platforms. The DDSAs (OEMs) have their own websites, and pages on social media, several multi-brand dealers prefer listing their inventory on the classified platforms as well. Facebook, Instagram and other social networking sites are gaining traction as an online space for buying and selling used cars in Singapore. By Sales Channel (B2C and C2C): B2C sales in Singapore mainly occur through dealership walk-in and inventory listed on online classified platforms or through dealers’ websites and Instagram pages, while C2C sales are mostly generated based on Online Classifieds & Offline References from friends & family. Social Media platforms like Facebook, are used extensively for C2C promotions and advertisements in order to reach a large set of potential customers quickly and free of cost. By B2C Sales channel (B2C- Multi-brand Dealers, DDSAs, and Bank Repossessed Car Auctions): The used cars in the B2C market of Singapore are primarily sold via three channels- multi-brand dealers, Direct Dealership Sales Agents, and Banks repossessed cars. The major share of Singapore Used Car under B2C sales is being captured by the Multi-Brand dealers. On the other hand, volume of cars sold through Bank Repossessed and Direct Dealership Sales Agents was ~10% each in the year 2020. By Type of Car: SUVs and Sedans are quite popular in Singapore. Since the price of cars has been rising, most car purchases are made by higher income families. Hence, SUVs and Sedans make up most of the market share in used car market sales. By Brand: Toyota is the market leader in Singapore accounting for the major share of sale of used cars by volume. Japanese brands such as Toyota, Honda and Nissan, are the most preferred Japanese cars due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle. BMW and Mercedes Benz are the most preferred continental cars. Request for Sample Report @ https://kenresearch.com/sample-report.php?Frmdetails=NTA0Mzg0 By Region: Most of the used car’s market is concentrated in the Central and South Singapore region. By Age: The average replacement age of used cars in Singapore is 4-6 years. Most used cars sold have 1 previous owner. By Kilometers Driven: Cars with a mileage of 50,000-100,000 kilometers dominated the used cars market in Singapore in the year 2020. By Fuel: Majority of the used cars sold in Singapore were petrol run cars, while electric cars sold accounted less than 1%in 2020. Snapshot on Online Used Car Landscape The online Used Car Market has been gaining traction in the last few years. There has been an immense expansion in the lead generation of used cars via the online means in the last decade. Facebook, Instagram and other social networking sites plays a key role in expanding the used cars market in Singapore. Emergence of online auto-portals and classified platforms such as Carousel and DBS Car Marketplace have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. The increasing internet penetration of the used cars market in the country is contributing positively to the growth of the industry. Competitive Landscape of Singapore Used Car Market There exists intense competition in the fragmented market with various authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. The largest share of the market is held by the multi-brand dealers. While the banks also fall under the B2C organized segment, they do not exhibit any competitive characteristics as their sole purpose is to recover the losses incurred due to the delinquency of the borrowers. In order to compete with authorized dealers, most multi-brand dealers are providing value added services in order to retain and expand their market share. Singapore Used Car Future Outlook & Projections The used car industry in Singapore is expected to demonstrate a decent growth in the future. It is expected to increase at a five-year CAGR of 11.1% (by value in SGD Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering Singapore Used Car market a growing and profitable venture. Moreover, people in Singapore are realizing the advantages of buying a pre-owned car as there has been a shift in the general consumer preferences. Key Segments Covered By Market Structure Organized Unorganized By Organized Channel Source of Lead generation Online Dealership walk-ins By Sales Channel B2C C2C By B2C Sales Channel Multi-brand Dealers Direct Dealership Sales Agents Bank Auctions By Type of Car Luxury Sedan Mid-Size Sedan Hatchback SUV MPV Sports Car Station wagon By Engine Size 1000 CC and Below 1001 CC – 1600 CC 1601 CC – 2000 CC 2001 CC – 3000 CC 3001 CC and Above By Brand Toyota Honda Hyundai BMW Audi Volkswagen Kia Mazda Nissan By Region North East West South Central By Age 0-2 years 2-4 years 4-6 years 6-8 years More than 8 years By Mileage 20,000 – 50,000 Km 50,000 – 100,000 Km 100,000 – 150,00 Km 150,000 – 200,000 Km 200,000 and Beyond By Fuel Petrol Diesel Electric Others (Petrol-Electric, Diesel-Electric, etc.) Companies Covered Authorized Dealers Cycle & Carriage Industries Inchcape plc Performance Motors Ltd Volkswagen Group Eurokars Group of Companies B2C Vin Car 88 Motor Trading Prime Motor & Leasing Hua Yang Credit Creative Auto Online Portals – Online Auto Classified Platforms Carousell DBS Car Marketplace C2B SgCarMart Carro Motorist Car Times Automobiles Cosmo Automobiles Carsome DirectCars Otopac Motors Time Period Captured in the Report:- Historical Period – 2015-2020 Forecast Period – 2021-2025 Key Topics Covered in the Report Executive Summary Research Methodology Singapore Used Car Market Overview Singapore Used Car Market Size, 2015-2020 Singapore Used Car Market Segmentation, 2020 Growth Drivers in Singapore Used Car Market Issues and Challenges in Singapore Used Car Market Government Regulations Ecosystem and Value Chain of Used Car Industry in Singapore Customers Purchase Decision Making Parameters Cross Comparison between Major Authorized Dealers and Multi-brand Dealers and Company Profiles Snapshot on Online used car market Future Market Size and Segmentations, 2021E-2025E Covid-19 Impact on the Industry & the way forward Analysts’ Recommendations For More Information, refer to below link: – Singapore Used Car Market Research Reports Related Reports: – UAE Used Car and Auto Classified Market Outlook to 2025 ( Second Edition ) – Driven by Growing Expat population and increased Awareness on health and hygiene due to covid-19. Malaysia Used Car Market Outlook To 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fueled by Covid-19 to accelerate Industry’s Growth Follow Us LinkedIn | Instagram | Facebook | Twitter | YouTube Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: AutoDeal Singapore Number of Listings, AutoDeal Singapore Users, Automart Singapore Number of Listings, Bank Repossessed Cars in Singapore, Carmudi Singapore Number of Listings, Carmudi Singapore Users, Carousell Singapore Number of Listings, Covid-19 Impact Singapore Used Car Market, Future Outlook of Used Cars Market in Singapore, Honda Market Share, Mitsubishi Market Share, Number of Online Used Car Companies Singapore, Number of Used Car Dealers Singapore, Number of Used Hatchbacks sold Singapore, Number of Used MPVs sold Singapore, Number of Used Pick-up Vans sold Singapore, Number of Used Sedans sold Singapore, Number of Used SUVs sold Singapore, Online classified players used car space Singapore, Online portals for Used Car Singapore, Partnerships Used Car Market Singapore, Philkotse Singapore Number of Listings, Region Wise Used Cars Sales Singapore, Singapore Used Car Industry, Singapore Used Car Industry Analysis 2021 to 2027 Used Car Market in Global, Singapore Used Car Market, Singapore Used Car Market 2020-2030, Singapore Used Car Market Analysis, Singapore Used Car Market Competition, Singapore Used Car Market Demand, Singapore Used Car Market Forecast 2021–2030, Singapore Used Car Market Future Outlook, Singapore Used Car Market Growth, Singapore Used Car Market Insights, Singapore Used Car Market key segments, Singapore Used Car Market Major Players, Singapore Used Car Market Overview, Singapore Used Car Market Research Report, Singapore Used Car Market Revenue, Singapore Used Car Market Scope, Singapore Used Car Market Share, Singapore Used Car Market Size, Singapore Used Car Market Trends, Snapshot Singapore Used Car Market, Toyota Market Share, Used Car Market Current Status Singapore, Used Car Market Present Status Singapore, Used Car Market Value Chain, Used Car Sales Singapore, Used Car to New Car Ratio Singapore