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 »
Malaysia Used Car Market is expected to grow at a CAGR of over 8% over the next 5 years Used car sales to cross over 900,000 units by 2026, witnessing a CAGR of 8% over 2021-2026 with the market being dominated by local players: Ken Research 1. The automotive industry is dominated by local players & unorganized dealers along with increased popularity of Japanese brands. Unorganized Players in Malaysia Used Car Market: Click Here… Read More »
Used car Sales basis GTV in Malaysia to exceed MYR 40 Bn by 2026. Will the projections justify growth? The market is poised to grow at a CAGR of over 8% owing to the increased popularity of online players and entry of OEM certified dealers: Ken Research Online platforms generate over 80% of the leads by virtue of access to a large inventory base and easier user interface that gives user a number of… Read More »
Future Outlook of Malaysia Used Car Market and Growth Rate: 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 1.38:1. Increasing demand for private vehicles, increasing purchasing power, easy availability of finance, increased govt.… 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 »