How big is the Singapore Used Car Market?

The Singapore Used Car Market size is expected to reach USD 45.81 billion in 2024 and grow at a CAGR of greater than 4.60% to reach USD 57.36 billion by 2029. Read More

What is the current Singapore Used Car Market size?

In 2024, the Singapore Used Car Market size is expected to reach USD 45.81 billion. Read More

Who are the key players in Singapore Used Car Market?

Direct Cars Pte Ltd, Otopac Motors Pte Ltd, SgCarMart singapore, Trusty Cars Pte Ltd (Carro) and Carsome Singapore Pte Ltd are the major companies operating in the Singapore Used Car Market. Read More

What years does this Singapore Used Car Market cover, and what was the market size in 2023?

In 2023, the Singapore Used Car Market size was estimated at USD 43.70 billion. The report covers the Singapore Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Singapore Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Singapore Used Car Market - Share, Trends & Analysis

Singapore Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Singapore Used Car Market Report is Segmented by Vehicle Type (Hatchback, Sedan, and Sports Utility Vehicle (SUV) and Multi-Purpose Vehicles (MPVs)), Fuel Type (Gasoline, Diesel, and Other Fuel Types), Booking Type (Online and Offline), and Vendor Type (Organized and Unorganized). The Report Offers Market Size and Forecast for the Market in Value (USD) for all the Above Segments.

Singapore Used Car Industry Overview

The used car market in Singapore is moderately fragmented owing to its competitive nature and the presence of a large number of regional and domestic players operating across the country. While some prominent players are focused on fleet expansion and collaborations, new entrants are focused on widening their customer base by adopting varying strategies.

For instance, in November 2023, SgCarMart, Singapore's leading car platform, announced a partnership with KINTO Singapore to introduce the 'Leasing as an Option' service for used car buyers. Targeting over 800 vehicles on Sgcarmart initially, the program aims to redefine car usage, offering a flexible alternative to ownership.