Friday, December 2, 2022

Email id:, Contact Us : +91-9015378249

Home Automotive, Transportation and Warehousing Automotive and Automotive Components Singapore Used Car Market, Research Report 2021, Size, Share, Demand, Industry Analysis,...

Singapore Used Car Market, Research Report 2021, Size, Share, Demand, Industry Analysis, Growth, Demand, Covid-19 Impact, and Future Outlook 2021 to 2027: Ken Research

Executive Summary

The report titled Singapore Used Car Market Outlook To 2025: Increasing Used Cars Demand Due to the Pandemic Contributes to Increase in Used Cars Sales during the Economic Crisis”- provides a comprehensive analysis of the used car market trends and performance in Singapore. The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on. The report also covers a snapshot on Singapore online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. Singapore Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario.

Singapore Used Car Market Overview and Size:

Singapore Used Car market is in its growth phase, increasing at a CAGR of -3.1% (by value in SGD Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in Singapore.

Singapore Used Car Market Segmentations

By Market Structure (Organized, and Unorganized): The used car market in Singapore is primarily dominated by the organized segment occupying more than 90% of the overall used cars market space.

By Organized Market Source of Lead generation (Online, Dealership walk-ins): In Singapore, the Used Car market has carved a niche in the online space. Majority of the lead generation for used cars happened via the online platforms. The DDSAs (OEMs) have their own websites, and pages on social media, several multi-brand dealers prefer listing their inventory on the classified platforms as well. Facebook, Instagram and other social networking sites are gaining traction as an online space for buying and selling used cars in Singapore.

By Sales Channel (B2C and C2C): B2C sales in Singapore mainly occur through dealership walk-in and inventory listed on online classified platforms or through dealers’ websites and Instagram pages, while C2C sales are mostly generated based on Online Classifieds & Offline References from friends & family. Social Media platforms like Facebook, are used extensively for C2C promotions and advertisements in order to reach a large set of potential customers quickly and free of cost.

By B2C Sales channel (B2C- Multi-brand Dealers, DDSAs, and Bank Repossessed Car Auctions): The used cars in the B2C market of Singapore are primarily sold via three channels- multi-brand dealers, Direct Dealership Sales Agents, and Banks repossessed cars. The major share of Singapore Used Car under B2C sales is being captured by the Multi-Brand dealers. On the other hand, volume of cars sold through Bank Repossessed and Direct Dealership Sales Agents was ~10% each in the year 2020.

By Type of Car:  SUVs and Sedans are quite popular in Singapore. Since the price of cars has been rising, most car purchases are made by higher income families. Hence, SUVs and Sedans make up most of the market share in used car market sales.

By Brand: Toyota is the market leader in Singapore accounting for the major share of sale of used cars by volume. Japanese brands such as Toyota, Honda and Nissan, are the most preferred Japanese cars due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle. BMW and Mercedes Benz are the most preferred continental cars.

Request for Sample Report @

By Region: Most of the used car’s market is concentrated in the Central and South Singapore region.

By Age: The average replacement age of used cars in Singapore is 4-6 years. Most used cars sold have 1 previous owner.

By Kilometers Driven: Cars with a mileage of 50,000-100,000 kilometers dominated the used cars market in Singapore in the year 2020.

By Fuel: Majority of the used cars sold in Singapore were petrol run cars, while electric cars sold accounted less than 1%in 2020.

Snapshot on Online Used Car Landscape

The online Used Car Market has been gaining traction in the last few years. There has been an immense expansion in the lead generation of used cars via the online means in the last decade. Facebook, Instagram and other social networking sites plays a key role in expanding the used cars market in Singapore. Emergence of online auto-portals and classified platforms such as Carousel and DBS Car Marketplace have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. The increasing internet penetration of the used cars market in the country is contributing positively to the growth of the industry.

Competitive Landscape of Singapore Used Car Market

There exists intense competition in the fragmented market with various authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. The largest share of the market is held by the multi-brand dealers. While the banks also fall under the B2C organized segment, they do not exhibit any competitive characteristics as their sole purpose is to recover the losses incurred due to the delinquency of the borrowers. In order to compete with authorized dealers, most multi-brand dealers are providing value added services in order to retain and expand their market share.

Singapore Used Car Future Outlook & Projections

The used car industry in Singapore is expected to demonstrate a decent growth in the future. It is expected to increase at a five-year CAGR of 11.1% (by value in SGD Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering Singapore Used Car market a growing and profitable venture. Moreover, people in Singapore are realizing the advantages of buying a pre-owned car as there has been a shift in the general consumer preferences.

Key Segments Covered

  • By Market Structure
  • Organized
  • Unorganized
  • By Organized Channel Source of Lead generation
  • Online
  • Dealership walk-ins
  • By Sales Channel
  • B2C
  • C2C
  • By B2C Sales Channel
  • Multi-brand Dealers
  • Direct Dealership Sales Agents
  • Bank Auctions
  • By Type of Car
  • Luxury Sedan
  • Mid-Size Sedan
  • Hatchback
  • SUV
  • MPV
  • Sports Car
  • Station wagon
  • By Engine Size
  • 1000 CC and Below
  • 1001 CC – 1600 CC
  • 1601 CC – 2000 CC
  • 2001 CC – 3000 CC
  • 3001 CC and Above
  • By Brand
  • Toyota
  • Honda
  • Hyundai
  • BMW
  • Audi
  • Volkswagen
  • Kia
  • Mazda
  • Nissan
  • By Region
  • North
  • East
  • West
  • South
  • Central
  • By Age
  • 0-2 years
  • 2-4 years
  • 4-6 years
  • 6-8 years
  • More than 8 years
  • By Mileage
  • 20,000 – 50,000 Km
  • 50,000 – 100,000 Km
  • 100,000 – 150,00 Km
  • 150,000 – 200,000 Km
  • 200,000 and Beyond
  • By Fuel
  • Petrol
  • Diesel
  • Electric
  • Others (Petrol-Electric, Diesel-Electric, etc.)

Companies Covered

  • Authorized Dealers
  • Cycle & Carriage Industries
  • Inchcape plc
  • Performance Motors Ltd
  • Volkswagen Group
  • Eurokars Group of Companies
  • B2C
  • Vin Car
  • 88 Motor Trading
  • Prime Motor & Leasing
  • Hua Yang Credit
  • Creative Auto
  • Online Portals – Online Auto Classified Platforms
  • Carousell
  • DBS Car Marketplace
  • C2B
  • SgCarMart
  • Carro
  • Motorist
  • Car Times Automobiles
  • Cosmo Automobiles
  • Carsome
  • DirectCars
  • Otopac Motors

Time Period Captured in the Report:-

  • Historical Period – 2015-2020
  • Forecast Period – 2021-2025

Key Topics Covered in the Report

  • Executive Summary
  • Research Methodology
  • Singapore Used Car Market Overview
  • Singapore Used Car Market Size, 2015-2020
  • Singapore Used Car Market Segmentation, 2020
  • Growth Drivers in Singapore Used Car Market
  • Issues and Challenges in Singapore Used Car Market
  • Government Regulations
  • Ecosystem and Value Chain of Used Car Industry in Singapore
  • Customers Purchase Decision Making Parameters
  • Cross Comparison between Major Authorized Dealers and Multi-brand Dealers and Company Profiles
  • Snapshot on Online used car market
  • Future Market Size and Segmentations, 2021E-2025E
  • Covid-19 Impact on the Industry & the way forward
  • Analysts’ Recommendations

For More Information, refer to below link: –

Singapore Used Car Market Research Reports

Related Reports: –

UAE Used Car and Auto Classified Market Outlook to 2025 ( Second Edition ) – Driven by Growing Expat population and increased Awareness on health and hygiene due to covid-19.

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

Follow Us

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications



Well Placed Logistics Network, Increasing Online Population and Technological Developments are boosting up Germany E-Commerce Logistics Market – Ken Research

Buy Now 1. The total retail sales in Germany was more than 500 Bn out of which 27% was carried through E-commerce Platforms,,,...

Germany E-Commerce Market is expected to grow at 5.2% CAGR over the forecasted period 2021-2026F: Ken Research

Buy Now Germany’s population is anticipated to grow at the rate of 0.14%. The rise in online population and technological advancements is expected to...

Mr. Jan Frank Country Director of Arctic Wolf Global, talks about Vietnam Cold Chain industry is growing rapidly due to higher demand from food...

In conversation with Mr. Jan Frank, Country Director, Arctic Wolf Global, Vietnam, we tried to understand the Cold Chain Industry in Vietnam. We also...

Most Popular

Global Athleisure Market Expected to Reach Approximately US$ 450 billion by 2028: Ken Research

Buy Now Athleisure also categorized as hybrid clothing, refers to manufactured apparel that is frequently worn for athletic activities as well as in other contexts...

Global Market Study On Collagen Supplements: Ken Research

Buy Now Collagen is the most abundant protein in the body, containing 19 amino acids such as glutamine, arginine, proline, and glycine. Its fibrous structure...

Ongoing Consolidation among private players, improving dental equipment and related solutions are major trends shaping the Philippines Dental Services Market: Ken Research

Buy Now The Philippines Dental Services Market has a considerable growth potential in the coming years, is estimated to prosper from a growing economy, substantial...

Owing to Increase in consumer preference towards local language, the market is expected to grow to 60K Crores in India Vernacular Market: Ken Research

Buy Now During Covid pandemic, there has been a significant increase in online content users due to high screen time, leading to high growth...