Pandemic Turns into a New Alternative for Used Automobile Sellers in

Gurugram, India, March 21, 2022 (GLOBE NEWSWIRE) — Key Findings

  • One unfavorable for used vehicles is the 7% VAT that is added to the invoice if the shopper buys from a showroom or used automobile vendor, or use a mortgage to finance the acquisition.
  • Shoppers are shifting away from conventional strategies & rising utilizing on-line platforms for his or her used automobile shopping for/promoting journey. Many start-ups and auto portals current in Southeast Asia are coming into the Thailand market or increasing their presence via mergers & acquisitions, seeing the business’s potential.
  • One Ton Pickups have gained a big share within the used vehicles market within the final 5 years as they’re higher aligned with the expectations of Thai shoppers. That is primarily because of the cause that they can be utilized as passenger and business automobile for transportation. Furthermore, theses automobile take pleasure in a tax rebate if registered as business automobiles.

Progress of Digital Platforms: Growing web and sensible cellphone penetration within the nation has resulted in massive variety of shoppers preferring to purchase and promote vehicles via on-line auto classifieds and social media. Public sale Homes are additionally rising their spending on internet marketing and producing leads via these platforms. Information from Google Developments additionally signifies that the market has gained extra consideration. Looking for main second-hand automobile manufacturers on the Web elevated prior to now two years.

Unorganised sellers Dominate the Gross sales Quantity within the Market: Unbiased sellers (Automobile Tents) dominate the market attributable to massive presence throughout the nation. These sellers are additionally rising their on-line presence by itemizing their stock on their very own web site/Fb account or platforms leading to market progress. The gamers within the unorganized sector give sturdy choice to less-aged vehicles and well-liked manufacturers with good resale worth. Consequently, patrons have restricted vary of auto choices to select from.

Sluggish Progress Charge On account of First Automobile Purchaser Program: From 2011 to 2012, the Thai authorities applied the First-Time Purchaser Program to encourage car consumption, which led to a fast progress in car manufacturing and gross sales. Nevertheless, by the tip of 2017 the market was flooded with second hand vehicles after the tip of program. This prompted a lower of 20%-25% within the value of used automobile thereby affecting the business income.

Declining Used Automobile Gross sales Demand attributable to Covid-19: The demand for used vehicles decreased throughout the corona virus pandemic. This was attributable to low provide and likewise attributable to closure of OEM dealerships and Native Tents throughout lockdown. This was additional fuelled by lower in buying energy which led to suspending of latest and used automobile purchases. Additionally, Thailand has lately recovered from a political and economical instability which has led to a decline in provide. Aside from gross sales points, used automobile corporations skilled money movement difficulties attributable to the truth that a lot of the banks weren’t repossessing vehicles. The demand for used vehicles within the nation remained low on the beginning of 2020, nevertheless there was improve in demand within the second half of the yr submit ease in confinement. Gradual restoration is predicted in 2021. The producers are anticipated to shift focus in direction of digital medium to be able to drive gross sales and improve buyer footfall.

Analysts at Ken Analysis of their newest publication Thailand Used Automobile Market Outlook To 2025 – Progress of On-line Used Automobile Platforms and Simple Availability of Credit score Escalating Business’s Progress noticed that  Thailand is a rising used automobile market in South East Asia and is slowly recovering from the financial disaster after pandemic. The rising credit score availability within the nation alongside exemption in taxes is driving the expansion of the business. Growing concentrate on promotional and advertising and marketing actions, new product launches, partnerships & collaborations are anticipated to drive the business sooner or later. The Thailand Used Automobile Market is predicted to develop at a CAGR of seven.3% on the idea of GTV over the forecast interval 2020-2025.

Key Segments Coated:-

  • By Market Sort
    • C2C
    • B2C/OEM organized
      • Multi Model Organized Supplier
      • Multi Model Unorganized Supplier
      • OEM Organized
    • Public sale
  • By Automobile Section
    • Hatchback
    • 1 ton pickup
    • Sedan
    • MPV, HPV/Mini MPV
    • SUV
  • By Area
    • Bangkok
    • North East
    • North
    • South
    • East
    • West
  • By Kilometers Pushed
    • Lower than 20,000
    • 20,000-50,000
    • 50,000-80,000
    • 80,000-120,000
    • Above 120,000
  • By Age of Automobile
    • Lower than 1 yr
    • 1-3 years
    • 3-5 years
    • 5-8 years
    • Greater than 8 years
  •  By Age of Consumers
    • 0-30 Years
    • 30-50 Years
    • Above 50 Years
  • By Supply of Lead
    • On-line (Social Media/Automobile Portals/Official Web site)
    • Offline (Dealership Stroll-in)

Firms Coated (OEM Dealerships):-

  • Toyota Positive Thailand
  • Honda Used Licensed Thailand
  • Mitsubishi Diamond Used Automobile
  • Nissan Intelligence
  • Mercedes Licensed

Firms Coated (On-line Portals):-

  • iCar Asia( One2Car, Thaicar, Autospinn)
  • Carsome Thailand
  • Carro Thailand

Key Goal Viewers:-

  • Used Automobile Firms
  • OEMs
  • On-line Used Automobile Portals
  • Used Automobile Financing Firms
  • Authorities Our bodies
  • Traders & Enterprise Capital Corporations
  • Used Automobile Dealerships
  • Used Automobile Distributors Public sale Homes
  • Used Automobile Associations

Time Interval Captured within the Report:-

  • Historic Interval – 2014-2020
  • Forecast Interval – 2021-2025

Key Subjects Coated within the Report:-

  • Govt Abstract
  • Analysis Methodology
  • Thailand Used Automobile Market Overview
  • Thailand Used Automobile Market Measurement, 2014-2020
  • Thailand Used Automobile Market Segmentation, 2020
  • Progress Drivers in Thailand Used Automobile Market
  • Points and Challenges in Thailand Used Automobile Market
  • Regulatory Framework
  • Snapshots on Used Automobile Financing
  • Snapshot on Public sale Market
  • Snapshot on Used Bike Market
  • Ecosystem and Worth Chain of Used Automobile Business in Thailand
  • Prospects Buy Resolution Making Parameters
  • Cross Comparability between Main OEMs and Multibrand Sellers and Firm Profiles & Product Portfolios
  • Future Market Measurement and Segmentations, 2021-2025F
  • Covid-19 Influence on the Business & the Approach Ahead
  • Analysts’ Suggestions
  • Thailand Used Automobile Market
  • Variety of Used Automobile Firms in Thailand
  • Variety of On-line Used Automobile Firms in Thailand
  • Used Automobile Home Gamers Thailand
  • Financing of Used Vehicles Thailand
  • Used Automobile to New Automobile Ratio Thailand
  • Toyota Variety of Sellers Thailand
  • Honda Variety of Sellers Thailand
  • Honda Finance Companions Thailand
  • Nissan Variety of Sellers Thailand
  • Nissan Finance Companions Thailand
  • Mitsubishi Variety of Sellers Thailand
  • Mitsubishi Finest Promoting Merchandise Thailand
  • Used Automobile Gross sales Thailand
  • Toyota Market Share
  • MITSUBISHI Apotek Market Share
  • Nissan Market Share
  • Honda Market Share
  • Future plan of Used Vehicles in Thailand
  • On-line portals for Used Automobile Thailand
  • Carsome Thailand Customers
  • Carro Thailand Customers
  • One2Car Customers Thailand
  • Carsome Thailand Income
  • Carro Thailand Income
  • One2Car Thailand Income

For Extra Data on the analysis report, confer with beneath hyperlink:-

Thailand Used Automobile Market

Associated Experiences:-

Indonesia Automotive Aftermarket Service Market Outlook to 2026: Inflow of latest gamers and automobile variants from overseas are contributing to the expansion of automotive aftermarket service business in Indonesia

Indonesia’s automotive aftermarket service business income stood at USD ~ billion in 2021 and recorded a CAGR of 5.4% throughout 2015-2021. The multi-brand workshops dominate the Indonesian automotive aftermarket service business attributable to their cheaper service payment and generalized service choices. ~% of the after-sales care service market is captured by the multi-brand service facilities owing to its low service & spare components price and excessive choice by submit guarantee automobile homeowners. OEM automobile service facilities in Indonesia witness the vast majority of the pre-warranty vehicles visiting their facilities. Excessive-quality service, real spare components and extra reliability on the OEM service facilities are different explanation why a buyer prefers the OEM service facilities in Indonesia.

Saudi Arabia Used Automobile Market Outlook To 2025- By Market Construction (Organized & Unorganized), By Sort Of Automobile (Sedans & Hatchbacks, SUVs & Crossovers, Decide-Ups And Luxurious), By Model (Toyota, Hyundai, GMC & Chevrolet, Ford And Others), By Sort Of Sourcing, By Age Of Automobile (Much less Than 1 Yr, 1-3 Years, 3-5 Years & Extra Than 5 Years), By Kilometers Pushed (Much less Than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & Extra Than 120,000 Km) And By Area (Northern, Southern, Central, Jap And Western)

The used automobile business in Saudi Arabia has grown at a CAGR of 0.8% on the idea of gross transaction worth over the interval 2014-2019 and declined at a CAGR of -2.4% on the idea of gross sales quantity. The departure of expats from the nation and the financial instability contributed to the decline in gross sales throughout 2016-2017. The addition of girls drivers and the excessive ranges of disposable earnings within the nation are one of many main progress drivers of the business. Increase within the variety of on-line auto-classified platforms and the traction of the shoppers in direction of on-line platforms is contributing to the inclining used automobile gross sales within the nation.

Malaysia Automotive Aftermarket Service Market Outlook to 2025: Surging Used Automobile Gross sales contributing to the Progress of Automotive Aftermarket Service Business in Malaysia

Malaysia automotive aftermarket service business income stood at USD ~ Bn in 2020 and recorded a CAGR of two.9% throughout 2015-2020. Multi-brand automobile service facilities are majorly most well-liked by the customers with out-of-warranty vehicles. Decrease price of multi-brand service facilities & Availability of high quality spares from reputed suppliers is resulting in the expansion of multi-brand automobile service facilities in Malaysia. OEM automobile service facilities in Malaysia witness the vast majority of the pre-warranty vehicles visiting their facilities. Excessive-quality service, real spare components, and extra reliability of the OEM service facilities are different explanation why a buyer prefers the OEM service facilities in Malaysia.

Italy Used Automobile Market Outlook to 2023 – Led by Surge in Demand for Younger Used Vehicles Coupled with Improved High quality and Inspection of Used Vehicles

The Italy used automobile market was noticed to develop with a unstable progress sample within the evaluate interval 2013-2018. Elements equivalent to shift from conventional gross sales channel to E-commerce channel, surge within the demand for youthful used vehicles, simple availability of financing choices, acceptance of electrical and hybrid used vehicles and others have helped the used automobile business to develop in Italy when it comes to gross sales quantity. The organized section was noticed to dominate the used automobile business each when it comes to Gross Transaction Worth (GTV) in addition to gross sales quantity. The organized used automobile market is main in Italy owing to the providers offered by these dealerships equivalent to used automobile certifications, inspection of the used automobile, free providers, automobile refurbishing, provide documentation concerning the stringent inspection course of, the switch of possession and the belief on these dealerships.

Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Monetary Firms and Captives, By New and Used Autos Financed, By Sort of Automobile Financed (Motor Bikes, Vehicles and Gentle Industrial Autos) and By Mortgage Time Interval

The Automobile Finance Market in Qatar witnessed a slight decline throughout the interval 2014-2018, owing to lowering new automobile gross sales over the identical interval. The market is in progress stage with automobile gross sales starting to comply with a standard progress pattern after continued exponential progress until 2014, adopted by a fast decline after that. Developments available in the market had been largely stimulated by decline in oil costs after 2014 and blockade led by Saudi & just a few different neighboring gulf nations in opposition to Qatar. These traits led to say no of latest automobile gross sales in Qatar however spurred the expansion of used automobiles, particularly in passenger vehicles section within the nation.

Contact Us:-

Ken Analysis
Ankur Gupta, Head Advertising and marketing & Communications


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