Policy Street and CARSOME Revolutionize Car Insurance with CARSOME Care+

Through this partnership, drivers are not only safeguarding their vehicles but also gaining enhanced financial security and peace of mind in uncertain times. STORYLINE Innovative Collaboration: Policy Street and CARSOME introduce CARSOME Care+, redefining car insurance with unique unemployment protection. Addressing the Gap: Malaysia’s underinsured population of 90% targeted with personal accident coverage up to… Read More »

Revving Up: Malaysia’s Used Car Market Accelerates Amid Economic Caution

With cautious sentiment driven by inflation and interest rate hikes, the growth in used car sales is projected to continue. Rising Demand: Used car sales to surge in 2023 amid cautious economic outlook. Affordable Option: Customers opt for pre-owned vehicles due to inflation and interest rate concerns. Online Platforms: Online platforms expedite used car buying… Read More »

Navigating Growth and Resilience: Malaysia’s Used Car Market Trends and Strategies

Storyline Middle-Class Expansion: Rising middle-class income drives increased car ownership and demand for pre-owned vehicles. Digital Surge: Growing prevalence of online used car platforms boosts sales and enhances accessibility. Strategic Pandemic Support: Moratorium on car loans sustains the used car industry during the pandemic. Future Growth: Anticipated 8.5% (2027) CAGR as Malaysia’s middle class expands… Read More »

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

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… Read More »

Convenience offered by the online platforms to both buyers and sellers has led to increase in the Used Car Sales in Malaysia: Ken Research

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… Read More »

Future Growth of Malaysia Used Car Market: Ken Research

The report titled “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” provides a comprehensive analysis on the status of the used car industry in Malaysia. The report covers various aspects including volume of used cars &… Read More »

Demand For Used Cars in Malaysia Market: Ken Research

How Is The Malaysia Used Car Market Positioned? Overview: The Used car market in Malaysia is quite fragmented amongst the unorganized players in the industry. The used to new car ratio has been increasing over time and is currently at 0.8:1.  Increasing demand for private vehicles, increasing purchasing power, easy availability of finance, increased govt.… Read More »

Growth of online platforms providing convenience to buyers and sellers as well as increased concerns about health on account of Covid-19 helps Increase the Sales of Used Car in Malaysia

Increasing Internet Penetration: There were 29 million internet users in Malaysia in January 2020.  Internet penetration in Malaysia was ~85% during the same period. As the smartphone and internet penetration in Malaysia is increasing, the used car dealers have been able to increase their footfall. The digital platform provides online services such as photos and… Read More »

COVID-19 Impact on Used Car Industry in Malaysia

The report titled “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” provides a comprehensive analysis on the status of the used car industry in Malaysia. The report covers various aspects… Read More »