Sunday, February 25, 2024

Email id:, Contact Us : +91-9871552944

Home Automotive, Transportation and Warehousing Automotive and Automotive Components The Used Car Market Of Malaysia Is All Geared Up To Witness...

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

Malaysia Used Car MarketTo 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

Malaysia Used Car MarketIn 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

Malaysia Used Car MarketVisit 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.

For more insights on the market intelligence, refer to the link below:-

Malaysia Used Car Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram


Car Rental Market – Share, Analysis and Industry Statistics

In today's fast-paced world, convenience and flexibility are paramount, and the car rental industry stands as a beacon of mobility for travelers worldwide. The...

Used Vehicles Market: Trends, Challenges, and Opportunities

In the dynamic landscape of the automotive industry, the used vehicles market stands as a testament to both tradition and innovation. With evolving consumer...

Used Car Market Size, Share, Growth and Trends

In today's automotive industry, the used car market plays a pivotal role, offering consumers a plethora of options and shaping the strategies of industry...

Most Popular

Skin Care Market Segmentation: Unveiling Needs and Targeting Strategies

The skincare market is a vast and ever-evolving landscape, encompassing a diverse range of products and catering to a multitude of needs. To navigate this complex...

Biopsy Devices Market Size, Share, Trends & Forecast 2029

The global Biopsy Devices Market is set to experience robust growth in the coming years, driven by a combination of factors such as increasing...

A Growing Industry of Protected Cultivation, Insights on Share and Growth

Introduction to Protected Cultivation Protected cultivation, also known as greenhouse farming, revolutionizes traditional agricultural practices by providing controlled environments for optimal plant growth. This article...

Emerging Trends in Indian Test Prep Market: AI, AR, and the Future of Learning

In the bustling realm of India's education sector, the test preparation market stands as a pivotal domain, shaping the academic journeys of millions of...