Used cars sales in Singapore to cross over 120 Th units by 2025. Will Singapore continue the support for increased sale of used cars? : Ken Research 1. Adoption of AI Technology and Easy Financing Options Contributing to C2B Platforms’ Growth Click to know: More technological Developments Singapore Used Car Market Leveraging technologies such as Artificial Intelligence & Virtual Reality to enhance the digital experience for consumers by offering 360° interior & exterior view of the car, estimating car price online via… Read More »
The Used Car Industry in Singapore is growing at CAGR of 11.1% Basis Revenue. Will Singapore continue this growth trajectory? Ken Research 1. Singapore has the Highest Penetration of Online Sales with 90% Online Sales Click to know: Online vs Physical store sale in Used Car Market Increasing internet and smartphone penetration leading to high sales facilitated by online platforms such as Carro and others. Due to two-month long CB measures and tight border restriction, overall sales… Read More »
Easy Loan Availability, Ease of doing business, Consumers preference for personal vehicle and the Fruitful Lemon Law will flourish the Used Car Market of Singapore – Ken Research 1. Singapore sustains 1st rank in Asia in the World Bank’s Ease of Doing Business index 2020, ranked 2nd globally In 2020, Singapore ranked 2nd out of 190 countries in the World Bank’s Ease of Doing Business Index. The country has maintained its second position for four consecutive years. In the Global Competitiveness Index ranking,… Read More »
Singapore Used Car Market Research Report, Size, Share, Trends, Future Outlook, Business Opportunity, Dealers, Competition, and Forecast 2021–2030: Ken Research Buy Now A used car is the second-hand vehicle that is accessible for resale. Several outlets such as franchise and independent car dealers, rental car companies, auctions, private party sales, and leasing offices sell used cars. A surge in the requirement of private cars, coupled with opportune financing facilities, augmented internet penetration and improved digitalization… Read More »
Credit Disbursed from Singapore Auto Finance Industry is expected to witness a CAGR of ~11% during 2020-2025 owing to increase in demand in the post-COVID scenario: Ken Research Buy Now Key Findings Increasing Number of Auto Finance service providers are focussing on improving their Value-Added Services and streamlining their business operations using Big Data, Data Analytics Tools, IoT, AI and others. The rise in private car service financing is driving the Singapore automotive financing market. The objective of car service financing is to… Read More »
Singapore Used Car Market Future Outlook To 2025, Size, Major Players, Revenue, Demand, Competition, Segmentation, Business Opportunity, Dealers, Present Status, and Forecast: Ken Research HOW IS THE SINGAPORE USED CAR MARKET POSITIONED? Overview: 65% of the total population is under the age bracket 20-64 years supplemented by the high per capita income. The used car market in Singapore is quite fragmented. There has been a surge in the demand for private vehicles since the pandemic has made it quite… Read More »
Singapore Auto Finance Industry Analysis, Research Report, Evolution, Trends, Growth Drivers, Insights, Forecast, Competition, and Future Outlook: Ken Research Buy Now The Singapore Auto Finance industry is at a growth stage and is increasingly being supported by modern digital infrastructure and huge loan portfolio. The average cost of car loan in the industry is ~2.6% and ~2.7% for a new or used car respectively. Singapore Auto Finance market has grown in the in past… Read More »
More Multi-Brand Players Plan Foray into the Singapore Used Cars Market as the segment shows Resilience to the Economic Crisis during Covid-19 due to a Pandemic incited surge in Demand: Ken Research Buy Now Key Findings The Used Cars Market in Singapore has been gaining traction since several years, however, the growth has accelerated especially over the last decade as several online operating players have entered the segment. The increasing digital space encapsulating the used cars segment has provided a boost to the industry in terms of… Read More »
The Singapore Auto Finance Market is dominated by Car Financing through Banking Institutions and is driven by digital advancements to ease application processes in the Country: Ken Research Rising Digital Advancements: In recent years, Singapore’s Auto Finance Industry is increasingly moving towards more digital, platform-based and simplified systems, to increase its acceptance and overall efficiency. High penetration of mobile commerce has led to large disruption in the segment, with market participants being able capture a lion’s share of the market by applying more… Read More »
Singapore Auto Finance Market Research Report, Size, Share, Growth, Future, Competition, Application, Demand, Trends, and Revenue: Ken Research Buy Now The report titled “Singapore Auto Finance Market Outlook to 2025 (Edition II) – Driven by exorbitant Car Prices, Growing Digital Penetration and evolving Vehicle Ownership Characteristics amidst Systemically Regulated Car Ownership Polices by the Government” provides a comprehensive analysis on the performance of the Auto Finance industry in Singapore. The report covers various… Read More »
