Indonesia Used Car Market Revenue and Forecast to 2027
Executive Summary
Indonesian Used Car market is expected to grow at a CAGR of 6% from 2022 to 2027, as the barrier of owning a used car has almost entirely disappeared. From a decade ago, there has been an increase in demand for secondhand cars in Indonesia thus second-hand car sales in Indonesia has increased and expected to grow in coming years.
However, earlier used cars in Indonesia were frequently inadequately evaluated and individuals preferred to buy them based on recommendations from friends and family. In recent year the major evolution of used car market in the country is observed in the organised structure, which comprises of OEM authorised dealerships and multi-brand organised showrooms that sell a wide selection of used cars from various used car firms that are divisions of major automakers also buyers are shifting from local dealers to online used car players in the country.
Indonesia Economic Performance
After experiencing a decline in the third quarter, Indonesia's economy significantly recovered and concluded 2021 with output higher than in 2019 prior to the pandemic. The economy's growth is anticipated to pick up in 2022 by 5.0% as economic activity continues to normalise. With high momentum entering 2022 for private consumption and investment.
Indonesia Automobile Market Performance: In terms of automotive output within ASEAN and Southeast Asia, Indonesia comes in second. However, because of its rapid recent expansion, Indonesia is predicted to somewhat bridge the gap with Thailand's dominant position during in the coming years. Indonesia's domestic automotive production facilities are currently heavily reliant on foreign direct investment, primarily from Japan. The influence of COVID-19 on Indonesia automobile market in 2022 is still being felt. In 2021, the sale of cars in Indonesia increased by 66.8% to 887,202. In June 2022, car sales in Indonesia increased by 8.9%. Moreover, to enhance the automobile sector in the nation, the country should also build auto part manufacturing sectors in order to support the automobile manufacturing sector. This section identify Indonesia car sales statistics.
Going online was a brand-new trend that the COVID-19 introduced to the world. Indonesian businesses did not lag behind either. Several multi-brand and independent dealerships began to strengthen their online presence in an effort to get into the online used automobile market. In addition to advertising their used car inventory online through internet portals, a number of dealerships have invested in their own websites and Instagram profiles.
Covid-19 impact on used car market: The COVID-19 had an effect on the auto industry, and as a result, automakers are cutting costs even if the pandemic-caused economic depression is worsening. As a result, used car prices are currently falling. Nevertheless, major companies like OLX Indonesia saw a fall of 15% to 25% in the number of used car listings on its website during the first half of the year 2020. However, there is still competition between the markets for new and used cars because dealerships offer discounts and new vehicles include insurance.
Segmentation
By Major City: Indonesia's capital city of Jakarta saw the most used car sales nationwide. Due to the presence of young employees and the urban population, it is one of the most populated locations in the country and has the highest per-1,000-person ownership rate of passenger cars. The sale of used cars in East Java came in second. This region is home to a large number of multi-brand shops and used vehicle lots.
By Car Type: According to analysis, large families, among other consumer categories, choose MPVs, which made up the majority of domestic used car sales in Indonesia in 2020. The Honda Mobilio, Toyota Innova, and Avanza were revealed to be the most popular models in the category. In addition, city cars, hatchbacks, sedans, and SUVs are becoming more and more popular.
Future Growth: The Indonesia Used Car Market is expected to witness tremendous growth in the coming years, as demand for used car is rising not only among personal use but also rental service players are also preferring Used car over new car. Whereas, Indonesia has reintroduced a temporary luxury tax break on the sales of smaller cars because the concession raised demand for automobiles. The tax break, which was scheduled to end in August 2021, will now be available through the end of the year, the ministry declared in a statement, this expected to propel the demand for used cars.
Scope of the Study
The following synopsis is based on the report " Indonesia Used Car Market Revenue and Forecast to 2027" published by Makreo Research and Consulting. This report comprehends Indonesia Used Car Market Revenue and Forecast. Used market analysis has been carried on various parameters considering both qualitative and quantitative factors.
Indonesia used car market report delves deeply into various parameters such as Market size, segmentation value chain analysis, and industry cause and effect analysis. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.
Indonesia Used Car Market Segmentation
Indonesia Automobile Market
Indonesia Used Car Market
By Car Type
By Demand
Companies covered in the Indonesia Used Car Market Report:
Dealership:
Toyota
Trust Indonesia,
Suzuki Auto Value,
Diamond Smart Auto,
Mobil88,
PT Tunas Ridean Tbk,
PT Serasi Autoraya
Online Players:
Carro,
Carsome,
iCar Asia,
Mobil123.com,
Carmudi, Oto,
OLX Autos Indonesia,
The report helps reader to gain information on following areas:
At what rate Indonesia automobile market is growing in terms of demand and supply?
What are the main factors affecting the micro and macro levels of the Indonesian used automobile industry's growth?
Indonesia car sales statistics has been covered with past and present performance. Also, it is imperative to understand second hand car sales in Indonesia.
How has the economy of Indonesia fared since the outbreak of the virus?
Where Indonesia stands in terms of international trade, as well as the current situation of the used automobile market?
How is the Indonesian auto industry doing despite the global economic downturn?
What impact did COVID-19 left over Indonesia automobile market?
Was COVID-19 a push for Indonesia's used automobile market?
Which is the leading player in the Indonesian Used Car Market?
Future growth for used car market of Indonesia?
Indonesian Used Car market is expected to grow at a CAGR of 6% from 2022 to 2027, as the barrier of owning a used car has almost entirely disappeared. From a decade ago, there has been an increase in demand for secondhand cars in Indonesia thus second-hand car sales in Indonesia has increased and expected to grow in coming years.
However, earlier used cars in Indonesia were frequently inadequately evaluated and individuals preferred to buy them based on recommendations from friends and family. In recent year the major evolution of used car market in the country is observed in the organised structure, which comprises of OEM authorised dealerships and multi-brand organised showrooms that sell a wide selection of used cars from various used car firms that are divisions of major automakers also buyers are shifting from local dealers to online used car players in the country.
Indonesia Economic Performance
After experiencing a decline in the third quarter, Indonesia's economy significantly recovered and concluded 2021 with output higher than in 2019 prior to the pandemic. The economy's growth is anticipated to pick up in 2022 by 5.0% as economic activity continues to normalise. With high momentum entering 2022 for private consumption and investment.
Indonesia Automobile Market Performance: In terms of automotive output within ASEAN and Southeast Asia, Indonesia comes in second. However, because of its rapid recent expansion, Indonesia is predicted to somewhat bridge the gap with Thailand's dominant position during in the coming years. Indonesia's domestic automotive production facilities are currently heavily reliant on foreign direct investment, primarily from Japan. The influence of COVID-19 on Indonesia automobile market in 2022 is still being felt. In 2021, the sale of cars in Indonesia increased by 66.8% to 887,202. In June 2022, car sales in Indonesia increased by 8.9%. Moreover, to enhance the automobile sector in the nation, the country should also build auto part manufacturing sectors in order to support the automobile manufacturing sector. This section identify Indonesia car sales statistics.
Going online was a brand-new trend that the COVID-19 introduced to the world. Indonesian businesses did not lag behind either. Several multi-brand and independent dealerships began to strengthen their online presence in an effort to get into the online used automobile market. In addition to advertising their used car inventory online through internet portals, a number of dealerships have invested in their own websites and Instagram profiles.
Covid-19 impact on used car market: The COVID-19 had an effect on the auto industry, and as a result, automakers are cutting costs even if the pandemic-caused economic depression is worsening. As a result, used car prices are currently falling. Nevertheless, major companies like OLX Indonesia saw a fall of 15% to 25% in the number of used car listings on its website during the first half of the year 2020. However, there is still competition between the markets for new and used cars because dealerships offer discounts and new vehicles include insurance.
Segmentation
By Major City: Indonesia's capital city of Jakarta saw the most used car sales nationwide. Due to the presence of young employees and the urban population, it is one of the most populated locations in the country and has the highest per-1,000-person ownership rate of passenger cars. The sale of used cars in East Java came in second. This region is home to a large number of multi-brand shops and used vehicle lots.
By Car Type: According to analysis, large families, among other consumer categories, choose MPVs, which made up the majority of domestic used car sales in Indonesia in 2020. The Honda Mobilio, Toyota Innova, and Avanza were revealed to be the most popular models in the category. In addition, city cars, hatchbacks, sedans, and SUVs are becoming more and more popular.
Future Growth: The Indonesia Used Car Market is expected to witness tremendous growth in the coming years, as demand for used car is rising not only among personal use but also rental service players are also preferring Used car over new car. Whereas, Indonesia has reintroduced a temporary luxury tax break on the sales of smaller cars because the concession raised demand for automobiles. The tax break, which was scheduled to end in August 2021, will now be available through the end of the year, the ministry declared in a statement, this expected to propel the demand for used cars.
Scope of the Study
The following synopsis is based on the report " Indonesia Used Car Market Revenue and Forecast to 2027" published by Makreo Research and Consulting. This report comprehends Indonesia Used Car Market Revenue and Forecast. Used market analysis has been carried on various parameters considering both qualitative and quantitative factors.
Indonesia used car market report delves deeply into various parameters such as Market size, segmentation value chain analysis, and industry cause and effect analysis. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.
Indonesia Used Car Market Segmentation
Indonesia Automobile Market
Indonesia Used Car Market
By Car Type
By Demand
Companies covered in the Indonesia Used Car Market Report:
Dealership:
Toyota
Trust Indonesia,
Suzuki Auto Value,
Diamond Smart Auto,
Mobil88,
PT Tunas Ridean Tbk,
PT Serasi Autoraya
Online Players:
Carro,
Carsome,
iCar Asia,
Mobil123.com,
Carmudi, Oto,
OLX Autos Indonesia,
The report helps reader to gain information on following areas:
At what rate Indonesia automobile market is growing in terms of demand and supply?
What are the main factors affecting the micro and macro levels of the Indonesian used automobile industry's growth?
Indonesia car sales statistics has been covered with past and present performance. Also, it is imperative to understand second hand car sales in Indonesia.
How has the economy of Indonesia fared since the outbreak of the virus?
Where Indonesia stands in terms of international trade, as well as the current situation of the used automobile market?
How is the Indonesian auto industry doing despite the global economic downturn?
What impact did COVID-19 left over Indonesia automobile market?
Was COVID-19 a push for Indonesia's used automobile market?
Which is the leading player in the Indonesian Used Car Market?
Future growth for used car market of Indonesia?
- Report Synopsis
- Industry Overview
- 1. Research Methodology
- Objective of the Study
- Research Process
- Data Collection Methods
- Analytical Framework
- 2. APAC EPTD Analysis (Economic, Political, Technological and Demographic)
- APAC Overview – EPTD Analysis
- EPTD Analysis: Economic Overview
- EPTD Analysis: Political Overview
- EPTD Analysis: Technological Overview
- EPTD Analysis: Demography Overview
- 3. Asia Pacific Used Car Market – Trade Performance
- Asia-Pacific Automobile Trade Performance- An Overview
- Asia-Pacific New Cars Trade Performance
- Asia-Pacific Used Cars Trade Performance- Key Facts
- China Used Cars Trade Performance- Key Facts
- China Used Vehicle Demand & Trade by Type
- India Used Cars Trade Performance
- Japan Used Car Export Performance
- Asia Pacific Used Cars Trade Performance
- 4. COVID-19 & Impact Assessment
- Impact of COVID-19 over Asia Pacific Economy
- Impact of COVID-19 over Asia Pacific Automobile Industry
- Impact of COVID-19 over Asia Pacific Automobile Industry – Country Assessment
- Impact of COVID-19 over Asia Pacific Used Car Markets
- 5. Asia Pacific Automobile Market Performance
- Asia Pacific Automobile Market – Post COVID-19 Scenario: Key Facts
- Car Sales in Key Asian Economies
- Asia Pacific Automobile Production
- Asia Pacific Automobile Production by Countries
- Asia Pacific Automobile Sales by Countries
- Asia Pacific Automobile Sales in 2021
- Comparative Analysis of Used Cars Vs. New Cars
- 6. Asia Pacific Used Car Market Revenue and Segmentation Analysis
- Asia Pacific Used Car Market Structure
- Asia Pacific Used Car Market – An Overview
- Asian Countries Used Car Demand (Japan, Indonesia, China, India)
- Asia Pacific Used Car Market Revenue (Past and Present Performance)
- Asia Pacific Used car Market Segmentation by Vendor Type (Organized and Unorganized)
- Asia Pacific Used Car Market Segmentation by Fuel Type (Petrol, Diesel, Electric, CNG)
- Asia Pacific Used Car Market Segmentation by Geography
- 7. Asia Pacific Used Car Market Segmentation by Geography – China, Japan, Indonesia, India
- Asia Pacific Used Car Market Performance: By Countries (China, Japan Indonesia India and Rest of APAC)
- China Used Car Market Performance
- China Used car Market Revenue and Forecast
- Japan Used Motor Vehicle Sales by Vehicle Type
- Japan Used Car Market Revenue and Forecast
- Indonesia Used Car Market – An Overview
- Indonesia Used Car Market by Type (MPV, SUV, Hatchback, Sedan, Commercial, Others)
- Indonesia Used car Market Revenue and Forecast
- India Used Car Market – An Overview
- India Used vs New Passenger Vehicles Demand
- India Used car Market Revenue and Forecast
- 8. Asia Pacific Used Car Market Future Outlook
- Asia Pacific Used Car Market Future Driving Factors
- Asia Pacific Used Car Market Future Forecast
- 9. Asia Pacific Used Car Market– Macro Economic Factors
- 10. Asia Pacific Used Car -Market Dynamics
- Industry Trends and Developments
- Industry Driving Forces
- Industry Challenges
- 11. Asia Pacific Used Car Market –Mergers & Acquisition
- APAC Used Car Market Companies Mergers /Acquisitions/ Investments 2018-2022
- Asia Pacific Used Car Market – Funding Timeline
- 12. Asia Pacific Used Car Market – Company Profiles
- Company Profile – Cars24
- Company Profile – Mahindra First Choice
- Company Profile – eBay
- Company Profile – Autohome INC
- Company Profile – Carousell
- Company Profile – Carro
- Company Profile – Carsome
- Company Profile – Maruti True Value
- Company Profile – Uxin Group
- Company Profile – K Car
- Company Profile – SBT Co. Ltd.
- Company Profile – iCar Asia
- Limitations of the Study
Research Assistance
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