- A new trend witnessed in the used car industry in Indonesia is the increased number of listings by dealers and customers on online platforms
- The new-to-used car ratio is expected to increase up to 2021 and then take a fall by the year ending 2023 owing to entry of electric car variants which will limit the growth of used cars in the country
- Lucrative interest rates are being offered by financial institutions to attract individuals towards procuring loan financing options for purchase of used cars resulting to an increase in sales of used cars
GURUGRAM, India, June 12, 2019 /PRNewswire/ -- Surge in Smartphone Users: The rise in internet and mobile penetration has incentivized dealers to use online classified platform as it gives them the ability to reach a larger audience. It has been observed that majority of the total car dealers in Indonesia are highly focused towards online advertising of their used vehicles in the year 2018. Additionally, social media is also a medium being explored by many individuals and car dealers. Among social media platforms, Facebook and Instagram are the most prominent to advertise their car list and connect with potential buyers.
Government Regulations: In Indonesia, the total number of used car units sold per new car is expected to grow from 2018 to 2021. The Indonesian government was witnessed to launch a regulation stating that "no vehicle can be re-registered after an average ownership period of 10 years" which will create a positive impact on the vehicle quality thereby, augmenting the sale of both new as well as used cars in the near future. In addition to that, emergence of online auto classified portals coupled with strict / stringent quality / inspection checks performed by these portals will help in gaining back consumer confidence towards online transactions thus, influencing consumers to purchase more cars via online portals. Apart from that, rising working class population in the country is also anticipated to create a positive impact on the used car market over long term. However, the new-to-used car ratio is expected to take a fall by the year ending 2023 owing to entry of electric car variants which will limit the growth of used cars in the country.
Interest Rate Structure: Individuals who cannot afford to pay the full price of used car generally require loan financing from both public and private banks. Majority of the banks such as AB Sinarmas Multifinance, KKB Astrido Finance, Mega OTO (Kredit Pemilikan Mobil)-Arrear, Bank BRI, KKB Astrido Finance and others offer competitive interest rate for cars that are five years old or less while certain private banks offer used car loans to individuals for cars that are older than five years. The interest rates provided by these institutions vary on the basis of loan amount, car type, age of the car, model, loan tenure and location of the borrower.
The report provides a comprehensive analysis of China's Used Vehicle market introduction and genesis, market size by value and volume, market ecosystem, value chain analysis and market segmentation. The report covers complete snapshot on online used vehicle market, used vehicle finance market and buying decision parameters. The report provides a competition scenario with competitive landscape of major players in China online used vehicle market such as Guazi, Uxin Group and Renrenche. The report also covers SWOT analysis, future projections along with analyst recommendation. The report is useful for major organized dealers/Large vehicle markets, online used vehicle companies, unorganized dealers and auto loan companies for used vehicles, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
The report provides a comprehensive analysis of Russia's used car market introduction and genesis, market size by value and volume, market ecosystem, value chain analysis and market segment by type of car sale (Sedans, Crossovers and SUVs, Hatchbacks and Others include Micro Vans and MPVs) by Car Age (Less Than Five Years, Five to Ten Years and More Than Ten Years) by Distribution Channels (Dealers and Online) by Region (Moscow Region, Moscow, Krasnodar Region, St. Petersburg, Rostov Region and Others) by Origin of Cars (Foreign Cars and Domestic Cars). The report covers snapshot on Russia used car Finance market including major loan providers, Interest rate and down payment, comparison based on used Car loan services, Procedure for taking up loan for borrowers for a used car, major constraints in used car finance. The report also cover snapshot on used bus and used truck market.
The report provides a comprehensive analysis of pre-owned two wheelers services in India. The report focuses on sales volume, industry revenue, segmentation by unorganized and organized sector, by C2C and B2C distribution channel, by stock piece and customized two wheelers, by source of manufacturing of two wheelers (domestically manufactured and imported bikes), by type of two wheelers (motorcycles and scooters), by engine capacity of two wheelers (100-110cc, 125-135cc, 150-200cc and others), by average ownership of two wheelers (3-4 years, 4-5 years, 5-6 years and others), by manufacturer of two wheelers (Hero, Bajaj, Honda and others), by body type of two-wheelers (commuter, scooter, sports and others), by certification of two-wheelers (non-certified and certified) and by financing of two-wheelers (non-financed and financed). The report also covers the overall competitive landscape; government role and regulations, growth restraints, drivers, trends and developments. The report concludes with market projections for future for the market described above highlighting the major opportunities and challenges.
The report provides a comprehensive analysis on the UAE used car dealership and auto classified companies. The report covers various aspects including used car sales volume, transaction value and net income of dealers and classifieds; market segmentation by region (Dubai, Sharjah, Abu Dhabi, Umm Al Quwain, Ras Al Khaimah, Fujairah and Ajman), by Sales channel (B2B/B2C Dealership, Classified, C2C word of mouth) and by revenue streams, growth drivers, challenges, key regulations, market share of major dealers and classified companies, future outlook and analyst recommendation.
This report will help the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for UAE car dealerships, auto and horizontal classified portals, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
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