Malaysia Used Vehicle market in terms of sales volume has increased at a single digit CAGR over the review period 2013-2018.
MALAYSIA, February 18, 2020 /EINPresswire.com/ — • End of Life Vehicle policy in Malaysia will ensure higher replacement rate of a car in Malaysia due to the high resale value attached with the vehicle coupled with incentives offered by government on scrapping of vehicles at specified age.
• The vehicle age of 3-5 years in Malaysia is expected to account higher market share of 30.2% by the end of 2025 with a positive CAGR of 5.3% during the period 2018- 2025E.
• In future, Malaysia Used Vehicle market will be dominated by the Domestic and Japanese brand vehicles accounting more than 70% of the market share. High resale value of these brands, popular models, convenience associated with maintenance and services are the major reasons of growth of these brands in Malaysia Used Vehicle Market.
Rising EEV Vehicles in Malaysia: NAP policy 2014 aimed at promoting EEV vehicles in Malaysia. Government has taken an initiative to make Malaysia a hub for Energy Efficient Vehicles. The penetration of EEV vehicles has been growing over the years from 32.6% in 2015 to 62.0% in 2018. In view of the fact that EEVs are relatively expensive and will negatively impact the sales of total automotive industry volume in Malaysia. The decline in the sales of new vehicles will significantly lead to the growth in used vehicle sales volume in Malaysia largely due to the affordability associated with the pre-owned vehicles.
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Dominance of Malaysian and Japanese Brand Vehicles: In future, Malaysia Used Vehicle market will be dominated by the Domestic and Japanese brand vehicles accounting more than 70% of the market share. This is largely due to high resale value of these brands, popular models, convenience associated with maintenance and services.
Growing Urban Population in Malaysia: The urban population in Malaysia has been growing over the years and is a major factor that positively affects the used vehicle market in Malaysia. Malaysia has recorded high car ownership ratio over the years and is ranked 44th with respect to other comparable developed economies in the year 2014. Moreover, growing urban population and high ownership ratio will positively impact the used car sales volume in Malaysia.
Analysts at Ken Research in their latest publication “Malaysia Used Vehicle Market Outlook to 2025 – By Type of Distribution Channel (Organized and Unorganized Dealers), By Mode of Selling (Online and Dealership Walk-Ins), By Type of Vehicle (Sedans, Hatchback, SUVs, MPVs, LCV and others), By Vehicle Age(0-3 years, 3-5 Years, 5-8 Years and More than 8 years), By Brand(Perodua, Toyota, Honda, Proton, Nissan and Others)” observed that the Used Vehicle Market in Malaysia will increase due to increasing urban population and high car ownership ratio coupled with faster car replacement period and introduction of government policies such as EEV and ELV.
The market is expected to register a positive CAGR of 2.8% in terms of sales volume during the forecast period 2018-2025E.
Key Segments Covered
By Distribution Channel
• Organized Dealers
Multi Brand Retailers
Direct Dealership Sales Agent
• Unorganized Dealers
By Mode of Selling
• Dealership Walk-Ins
By Type of Vehicle
By Vehicle Age
• 0 – 3 Years
• 3 – 5 Years
• 5 – 8 Years
• More than 8 Years
• Kuala Lumpur
By Price Range
• MYR 0 – MYR 30,000
• MYR 30,000 – MYR 50,000
• MYR 50,000 – MYR 70,000
• MYR 70,000 – MYR 90,000
• More than MYR 90,000
Key Target Audience
• OEM’S Companies
• Multi Brand Dealers
• Captive Dealers
• Venture Capitalist Firms
• Government/ Regulatory Authorities
• Online Auto-Classifieds
Time Period Captured in the Report:
• Historical Period: 2013-2018
• Forecast Period: 2019E-2025E
Major Online Players in Malaysia
• Motor Trader
• We Motor
Major Captive Dealers:
• Toyota TopMark
• Perodua Pre-Owned
• BMW Premium Selection
• Public Auto World Enterprises
• Keong Heng Auto
• East 28 Motors
• Puncak Auto Enterprises
• Yap’s Auto Car City
• ML Advance Auto Seller
• Global Wheels Automotive
Key Topics Covered in the Report
• Malaysia Used Vehicle Market Introduction (Overview, Genesis, Business Cycle)
• Malaysia Used Vehicle Market Ecosystem
• Malaysia Used Vehicle Market Business Model
• Used Vehicle Market Size Malaysia
• Malaysia Used Vehicle Auto Finance
• Malaysia Used Vehicle Market Segmentation
• Trends and Developments in Malaysia Used Vehicle Market
• Issues and Challenges in Malaysia Used Vehicle Market
• Malaysia Used Vehicle Market Regulations
• SWOT Analysis Malaysia Used Vehicle
• Buying Decision Parameters in Malaysia Used Vehicle Market
• Malaysia Used Vehicle Market Competition Scenario
• Malaysia Used Vehicle Market Future Projection, 2018-2025E
• Future Outlook of Malaysia Used Vehicle Market Segmentations, 2018-2025E
• Analyst Recommendations
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Ankur Gupta, Head Marketing & Communications
Source: EIN Presswire