New opportunity for Used Car Dealers in Malaysia raised as a result of the Covid-19 pandemic, driven by consumers’ preference of owning personal vehicles and greater ease & convenience offered by the online platforms: 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 Before Pandemic, the used car sales remained constant for about 20 years. The industry flourished post pandemic in terms of sales due to changes customers’ preferences and proper initiatives by the Malaysian government with the introduction of Penjana Scheme and escalating used car sourcing. Shoppers are moving away from conventional methods and & adopting the use of online platforms for buying & selling their used cars. Through merger & acquisitions, many C2B players, start-ups and auto-classified portals are entering Malaysia market and expanding their presence on visualizing the potential in the industry. ~60% of the used car sales comes from Kuala Lumpur & Selengor as a result of High Metropolitan population and disposable income in the region. East Malaysia has a high demand on pickup trucks due to geographical factors. East Malaysian cities namely Sabah & Kuching have generated sales majorly by pickup trucks. Pickup trucks come with better power and manoeuvrability, are especially used for off road commercial applications such as logging, construction, and plantation. Used Car Market in Malaysia Significant Growth of Digital Forum: Large number of consumers have started selling and buying cars through online auto classifieds, transactional marketplaces and social media due to significant increase in internet and smartphone penetration in the country. Auction Houses are also increasing their spending on online advertising and generating leads through these platforms. Search for major second-hand car brands on the Internet has increased since last year and a half, says Google trends. Sales Volume in the Market dominated by the Unorganized dealers: Due to the large presence across the nation, independent dealers (Car Tents) dominate the market. These dealers are also increasing their online presence by listing their inventory on their own website or Facebook account or other platforms resulting in the growth of the market. Click here for sample repot: – https://www.kenresearch.com/sample-report.php?Frmdetails=NTUwNTY3 Target on value-added services: To enhance the margins and to provide a hassle-free experience to the buyers, a large number of dealerships and online platforms are offering value-added services such as online car evaluation, certification, vehicle inspection, financing, insurance and ownership transfer. Incorporation of Latest Technologies to enhance digital experience: Future Technologies involving Artificial Intelligence & Virtual Reality is expected to enhance the digital buying & selling experience for consumers by offering 360° interior & exterior view of the car, estimating car price online via uploaded images, analyzing consumer behavioral insights to show relevant ads according to interests & more. Covid-19 led to Increase in 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. 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: 2nd hand car for sale in Malaysia, Automotive industry in Malaysia, automotive industry in malaysia covid-19, automotive industry in malaysia list, direct owner car sale malaysia, How big is the automotive industry in Malaysia, importance of automotive industry in malaysia, Malaysia Auto Industry, Malaysia's Top Quality Used Cars Sales, malaysian automotive component parts manufacturers, malaysian automotive industry analysis, market share of automotive industry in malaysia, New and Used Car Auto Financing in Malaysia, New and used cars for sale in Malaysia, Online Used Cars Buying & Selling Platform, Overview of the Malaysian Automotive Industry, second hand car malaysia price, Strategic Insight into Used-Car Market in Malaysia, total used car sales 2021, used car dealers in Malaysia, Used Car Market in Kuala Lumpur, used car sales Growth in Malaysia, used car sales statistics 2021, Used Cars for sale in Malaysia, Used Vehicle Warranty Malaysia