Convenience offered by the online platforms to both buyers and sellers has led to increase in the Used Car Sales in Malaysia: 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 href=”https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-used-car-market-analysis/550567-100.html” target=”_blank” rel=”noopener”>Buy Now Rising Internet Penetration: Internet users in Malaysia stands at 29.55 million as of January 2022 while Internet penetration in Malaysia stood at ~89.6%. The used car dealers have been able to increase their footfall due to the rising Internet and Smartphone penetration in the country. Digital platforms provide many value-added services such as – instant finance, warranty extension, insurance, etc. which are attracting more customers to buy used cars. Health Concerns from Using Public Transportation: Due to the Covid-19 Pandemic, people have become more conscious about health & hygiene due to which public transport and ride sharing are no longer considered to be a safe option as more & more people are concerned about health and risk for severe illness from the virus, and as a result, used car is a way of following social distance to fight the Covid-19 Pandemic. In addition to the same, with the decrease in purchasing power, new vehicles are not considered to be economical option which makes used car a perfect choice for customers with limited budget. Evolution of complete transaction Marketplaces: A completely digital experience by Transactional marketplaces helps the customer to book test drive & buy used cars online. Ancillary services such as insurance, warranty, financing options & documentation support are also provided by these platforms. Covid-19 Impact on the Used Car Sales: Due to Movement Control Order restrictions, the demand for used cars significantly diminished during the peak of Covid-19 pandemic. This was due to low supply and closure of OEM dealerships and local tents during lockdown which was further fueled by decrease in purchasing power which led to postponing of new and used car purchases. However, as the lockdown restrictions were on ease, there was a significant growth in used car sales as people started to prefer personal vehicles over shared transport. Other factors increasing the sales were favorable tax policies and sale of vehicles by people with multiple car ownership. During the initial months of the year 2020, the demand for used cars in the country remained low, however there was increase in demand in the second half of the year post ease in the lockdown. To drive sales and to increase customer football, the manufacturers are expected to shift focus towards digital medium. Analysts at Ken Research in their latest publication “Malaysia Used Car Market Outlook To 2026F (Third Edition) – Demand for Used Cars Increased Due to Shift in User preference towards Personal Mobility, induced by Covid-19” observed that post pandemic, Malaysia is in a late growth phase in the used car market in South East Asia and is slowly recovering from the economic crisis. The increasing credit availability in the country along with car loan moratoriums and other incentives under Penjana is driving the growth of the industry. The industry is expected to demonstrate strong growth in the future led by growth of online used car platforms that provide convenience to both buyers and sellers and makes the entire process smoother. The Malaysia Used Car Market is expected to grow at a CAGR of 9.7% on the basis of GMV over the forecast period 2021-2026F. Click here for sample repot: – https://www.kenresearch.com/sample-report.php?Frmdetails=NTUwNTY3 Key Segments Covered: – By Market Structure Organized Unorganized By Sales Channel B2C/OEM organized C2C Auction By Source of Lead generation Online Dealership walk-ins By Car Segment Sedan Hatchback SUV MPV Pickup trucks Others (convertibles, coupe, sports vehicles, etc.) By Price Less than MYR 30,000 MYR 30,000-50,000 MYR 50,000-70,000 MYR 70,000-90,000 More than 90,000 By Brand Perodua Proton Honda Toyota Nissan Others (Mitsubishi, Mazda, Mercedes, Audi, etc) By Region Kuala Lumpur Selengor Johor Penang Perak Others By Ownership period Less than 2 years 2-4 years 4-6 years 6-8 years More than 8 years By Mileage Less than 20,000 20,000-50,000 50,000-80,000 80,000-120,000 Above 120,000 By Fuel Petrol Diesel Hybrid Electric Companies Covered OEM Dealerships Perodua Pre-owned Proton Certified Pre-owned Toyota Topmark Mazda Certified Pre-owned BMW Premium Selection Mercedes Benz Certified Pre-owned Online Portals – C2B platforms Carsome MyTukar MyMotor Online Portals – Online Auto Classified Platforms Mudah.my Motor Trader Carlist.my WeMotor Motor Trader Autocari Oto.my B2B Auction players G-Mart MUV NG Chan Mau & Company Pickles Auction Key Target Audience Used Car Companies OEMs Online Used Car Portals Auction players 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 – 2015-2021 Forecast Period – 2021-2026F Key Topics Covered in the Report: – Executive Summary Research Methodology Malaysia Used Car Market Overview Malaysia Used Car Market Size, 2015-2020 Malaysia Used Car Market Segmentation, 2020 Growth Drivers in Malaysia Used Car Market Issues and Challenges in Malaysia Used Car Market Regulatory Framework Ecosystem and Value Chain of Used Car Industry in Malaysia Customers Purchase Decision Making Parameters Cross Comparison between Major OEMs and Multi-brand Dealers and Company Profiles & Product Portfolios Snapshot on Online used car market Snapshot on C2B and online classified market Snapshot on Auction Market Future Market Size and Segmentations, 2021-2025F Covid-19 Impact on the Industry & the way forward Analysts’ Recommendations Related Reports by Ken Research: – Indonesia Used Car Market Outlook to 2025 Saudi Arabia Used Car Market Outlook to 2025 Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 LinkedIn | Instagram | Facebook | Twitter | YouTube Tags: Automotive industry in Malaysia, Car Replacement Rate in Malaysia, Carlist Business Model Malaysia, Carsome monthly Used Car sales in Malaysia, Competition in Malaysia Used Car Market, COVID Impact on Malaysia Used Car Market, Covid-19 impact on Auto-sector In Malaysia, Dealers Commission Margin Malaysia Used Vehicle, Demand for second-hand cars in Kuala Lumpur, 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