The Used Car Market Of Malaysia Is All Geared Up To Witness Double-Digit Growth With Rising Online Used Car Platforms And An Increased Shift From Using Public Transport To Personal Cars – 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 1. The Used car industry is burgeoning with immense future potential owing to the growth of Online Platforms To Know More about this report, download a Free Sample Report The sales of used cars have relatively remained flat over the last 5 years with average ticket size growing at a modest ~1%. However, post-pandemic, the market has gained momentum due to the easy availability of used car loans by various banks and NBFCs that have led to the amplification of pre-owned car sales. Also, increasing internet and smartphone penetration leads to high sales facilitated by online platforms such as Carsome, MUV, MyTukar etc. The market is anticipated to witness impressive growth in the coming years as dealerships are expected to increase their online presence on online platforms or through their own websites and Instagram to boost sales. In addition to this, leveraging technologies such as Artificial Intelligence and Virtual Reality to enhance user browsing experience and car inspection will further drive the growth of the sector. 2. Online platforms generate ~80% of the leads by virtue of access to a large inventory base and an easier user interface that gives users a number of choices to choose from In Malaysia, an Online platform is the most preferred method for lead generation for organized players as it eliminates middlemen and the commission margin associated with them. The online channel offers a large variety of used vehicles with a single click and allows people to compare different vehicles at the same time. Moreover, a large stock of used vehicles under one roof is time-saving and considered a convenient method whereas dealership walk-ins are usually referred by relatives or friends. They are preferred by customers who are not having their trustworthiness towards online platforms. Also, due to the popularity of online channels, the majority of the unorganized dealers are listing their inventory through these channels. 3. High urban population and disposable income in Kuala Lumpur and Selengor have led to a generation of ~60% of the used car sales over these regions Visit This link Request for Custom Report The Klang valley comprising Kuala Lumpur and Selangor accounts for the highest used car sales in the country (>60%) due to the high urban population and disposable income in the region and the presence of a large number of dealerships and used car exchanges. It is highly expected that in the future, Selangor will contribute to the highest percentage share of used vehicles on account of a growing number of employed individuals in this region coupled with rising infrastructural development and the building up of new residential hubs in the region. 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