Market Share of South-East Asian Used Car Industry
The Southeast Asian used car market is highly fragmented and competitive due to various international and domestic players operating in the ecosystem. Some prominent players include Carro, Carsome, Cars24 Services Pvt. Ltd, Oto, Carmudi, and Automart PH. These contenders fiercely compete on multiple fronts, from pricing and online visibility to value-added services like warranties and financing, the depth of their car listings, and detailed vehicle performance data availability.
- In March 2024, Honda Malaysia unveiled plans to extend its Honda Certified Used Car Business, targeting a network of 32 sales outlets across Malaysia. The move aims to bolster the nation's used car market, offering consumers a reliable option through a trusted platform. Honda Malaysia emphasized its commitment to providing vehicles aged five years and younger to its Malaysian clientele.
- In January 2024, Carro, an online used car platform from Singapore, inaugurated two new branches in Thailand: Kingkaew and Tiwanon. This strategic expansion underscores Carro's pursuit of the region's promising market. With these additions, Carro's branch count in Thailand reached five by January 2024.
Many companies within this ecosystem are proactively venturing into the online used car market, aiming to strengthen their brand presence and expand their operations across Southeast Asian countries.
South-East Asian Used Car Market Leaders
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Carro
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Carsome Sdn Bhd (including iCar Asia)
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Cars24 Services Private Limited
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Oto
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Carmudi
*Disclaimer: Major Players sorted in no particular order
