Singapore Used Cars Market 2021 to 2030: Ken Research

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• More Multi-Brand Players Plan Foray into the
  Singapore Used Cars Market as the segment shows
  Resilience to the Economic Crisis during Covid-19
  due to a Pandemic incited surge in Demand Ken
  Research
• Key Findings
• The Used Cars Market in Singapore has been
  gaining traction since several years, however,
  the growth has accelerated especially over the
  last decade as several online operating players
  have entered the segment.
• The increasing digital space encapsulating the
  used cars segment has provided a boost to the
  industry in terms of more visibility and even
  credibility of the buyers and sellers. The
  growth of E-Commerce is expected to further
  augment the used car sales.
• The car prices are expected to rise and only
  higher income families will be able to afford
  cars. This will propel growth of the organized
  used car sector as the sales occurring through
  the certified pre-owned car dealerships in the
  country will increase.
• Increasing Used Car Sales due to Covid-19 The
  pandemic made owning a car an inevitable aspect
  of an individuals life as travelling via public
  transport can be hazardous. People who preferred
  public transport during the pre-Covid times are
  now the potential customers of the used cars
  market. Since, the pandemic does not seem to
  completely subside soon, the demand for used
  cars will keep increasing. Since most of these
  people could not afford a car in the first place,
  they would prefer the most optimal solution
  available, that is, purchasing a pre-owned car.
• Growing Car Prices There has been a shrinkage in
  the supply of Cost of Entitlement (COE)
  certificates since the number of de-registrations
  of cars, which is a chief determinant of COE
  supply rate, saw major decline in 2021. COE
  Premium for cars has been increasing hence,
  leading to an increase in the overall cost of
  cars. The car market is therefore skewing towards
  higher income families and the sales of used
  cars is increasing.
• Rising popularity of Digital Showrooms The
  online space in the used cars market has been
  gaining traction over time on account of Covid-19
  protocols that forced several dealers to
  introduce virtual showrooms. These digital
  platforms help facilitate minimum in-person
  contact during the process of selling a car by
  providing 360-degree view of the interiors of the
  car to enhance digital experience of consumers.
  Use of advanced technologies such as AI is helps
  to valuate car online by providing pictures.
• Increased Focus on Value-Added Services Since
  there are a higher proportion of organized
  players in the used cars segment, more dealers
  have shifted their focus on providing value-added
  services to survive the increasing competition.
  While it is quite common for the DDSAs (Direct
  Dealership Sales Agents) to provide such
  services, several multi-brand dealers too have
  started

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• providing additional services such as extended
  warranty, insurance, after sales services,
• assistance in paperwork, etc., to become a
  one-stop destination for used car buyers.
• Organized Segments Share to Rise An organized
  dealer is defined as an authorized or a multi
  brand dealership with higher inventory or a
  greater number of physical outlets in Singapore
  or an accredited dealership. Organized segment
  contributes to majority of the market share in
  the used cars space basis the number of dealers
  spread across the country. The share of organized
  dealers is expected to further rise in the
  future as more and more organized players enter
  the market. Moreover, buying used cars from
  organized players comes with the added advantage
  of availing maximum value-added services which
  are not provided by the unorganized players.
• Analysts at Ken Research in their latest
  publication Singapore Used Car Market Outlook To
  2025 The Pandemic Incited Increased Demand for
  Used Cars coupled with Increased Internet
  Penetration provides for Resilience in the Used
  Cars Market during the Economic Crisis
  observed that Singapore is in a growth phase in
  the used car market in South East Asia and is
  gradually recovering from the economic crisis
  after the pandemic. The increasing E-Commerce
  penetration is giving a boost to this industry.
  Going forward, the industry is expected to
  demonstrate further growth in the short-medium
  term fueled by the growth of online used car
  platforms that provide convenience to both buyers
  and sellers. Singapore Used Car Market is
  expected to grow at a CAGR of 8.5 on the basis
  of sales volume over the forecast period 2020
  2025.
• Key Segments Covered
• By Market Structure
• Organized Channel
• Unorganized Channel
• By Organized Channel Source of Lead generation
• Online
• Dealership walk-ins
• By Sales Channel
• B2C

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• By Type of Car
• Luxury Sedan
• Mid-Size Sedan
• Hatchback
• SUV
• MPV
• Sports Car
• Station wagon
• By Engine Size
• 1000 CC and Below
• 1001 CC 1600 CC
• 1601 CC 2000 CC
• 2001 CC 3000 CC
• 3001 CC and Above
• By Brand
• Toyota
• Honda

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• By Mileage
• 20,000 50,000 Km
• 50,000 100,000 Km
• 100,000 150,00 Km
• 150,000 200,000 Km
• 200,000 and Beyond
• By Fuel
• Petrol
• Diesel
• Others (Electric, Petrol-Electric,
  Diesel-Electric, etc.)
• Request for Sample Report _at_
• https//kenresearch.com/sample-report.php?Frmdetai
  lsNTA0Mzg0
• Companies Covered
• Authorized Dealers
• Cycle Carriage Industries
• Inchcape plc

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• Oto Pac Motors
• Time Period Captured in the Report -
• Historical Period 2015-2020
• Forecast Period 2021-2025
• Key Topics Covered in the Report
• Executive Summary
• Research Methodology
• Singapore Used Car Market Overview
• Singapore Used Car Market Size, 2015-2020
• Singapore Used Car Market Segmentation, 2020
• Growth Drivers in Singapore Used Car Market
• Issues and Challenges in Singapore Used Car
  Market
• Government Regulations
• Ecosystem and Value Chain of Used Car Industry in
  Singapore
• Customers Purchase Decision Making Parameters
• Cross Comparison between Major Authorized Dealers
  and Multi-brand Dealers and Company Profiles
• Snapshot on Online used car market

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Malaysia Used Car Market Outlook To 2025 (Second
edition) Growth of Online Used Car Platforms
and increased shift from using public transport
to personal cars, fueled by Covid-19 to
accelerate Industry's Growth Contact Us Ken
Research Ankur Gupta, Head Marketing
Communications support_at_kenresearch.com 91-90153
78249