Indonesia Used Car Market Analysis and Forecast (2019-2030)
Description
Executive Summary
Indonesia Used Car Market Revenue Performance
In 2023, the Indonesia used car market witnessed a significant increase in revenue demonstrating a remarkable Y-o-Y growth rate of 15%. The sales of cars are expected to rise, particularly in Jakarta, where the sales of new and used cars are nearing parity.
The Indonesia used car market presents a dynamic and diverse landscape, influenced by various factors such as car brand preferences, distribution channels, popular car models, body types, fuel types, city and regional trends, and age group preferences. As one of the largest automotive markets in Southeast Asia, Indonesia offers a wide array of choices for consumers looking to purchase pre-owned vehicles. Understanding the market trends and preferences across these categories is crucial for stakeholders seeking to navigate this competitive and evolving market successfully. This analysis delves into the nuances of the Indonesia used car market, providing insights into the key factors shaping its growth and future trajectory.
The used car market in Indonesia is also experiencing intense competition among key players, all vying for a larger market share in this rapidly evolving sector. Leading companies such as Carsome, PT Serasi, Carro, Oto, and OLX Indonesia are at the forefront of this competition, employing innovative strategies and expanding their presence to meet the increasing demand for high-quality pre-owned vehicles. As the market grows, online platforms are gaining popularity, with companies striving for market dominance by offering superior service quality, competitive pricing, and leveraging technological advancements.
Overall, competition in Indonesia's used car market is dynamic, driven by technological advancements, the growth of organized dealerships, and infrastructure developments. Companies that prioritize innovation, target younger consumers, and engage in strategic partnerships are well-positioned to capitalize on emerging opportunities and maintain a competitive advantage in this evolving landscape.
Key Highlights of Major Players in the Indonesia Used Car Market
- PT Tunas operates in the used car segment through its subsidiary, PT Tunas Asset Sarana, with outlets in Jakarta and Bandung.
- Carro has made a significant impact in Indonesia, with over 5,000 used car dealers, its primary target customers, now using its platform. This represents about 30.6% of new automotive sales in Southeast Asia. - - Carro's Buyback platform has been instrumental, allowing dealers to increase their inventory size, sales, and profitability by up to three times, according to the company.
- Indonesia has set an ambitious target of manufacturing 600,000 electric vehicles (EVs) by 2030, a substantial increase from the number sold in the country in the first half of this year. This goal is more than 100 times the number of EVs sold in Indonesia during the same period. This trend is expected to further boost the used car market revenue to IDR 1,485 trillion (USD 79.87 billion) with a growth rate of 6.68%.
Future Growth Opportunities in Indonesia Used Car Market
The future outlook for the Indonesia used car market appears promising, buoyed by the increasing adoption of online platforms, rising demand for affordable transportation, and the digitalization of the automotive industry. These trends are expected to drive market growth and innovation, providing consumers with more convenient and accessible options for buying and selling used cars, especially in new and emerging towns across the country. Companies that adapt to these trends and effectively utilize technology are likely to thrive in this evolving market. Overall, the Indonesia used car market is poised for continued growth and development in the years ahead.
The growing demand for used cars in Indonesia is anticipated to be a major growth driver, supported by the increasing presence of organized players, with revenue expected to reach more than IDR 1,000 trillion. Despite this growth, unorganized players are also expected to maintain a presence in the market during the forecast period.
In conclusion, the Indonesia used car market is dynamic, driven by evolving consumer preferences and technological advancements. Key players are continuously innovating and expanding to meet the increasing demand for quality pre-owned vehicles, particularly through online platforms. The market's growth potential is highlighted by ongoing mergers, acquisitions, and strategic investments aimed at expanding market reach and offering comprehensive solutions. As the market evolves, companies that can adapt to changing trends and prioritize customer needs are likely to succeed and establish a strong presence in this dynamic sector.
Scope of Indonesia Used Car Market Report
The research report titled " Indonesia Used Car Market Analysis and Forecast (2019-2030) - by Brand, Car Type, Body Type, Fuel Type, Cities and Age Group" by Makreo Research aims to provide a comprehensive analysis of the performance and future growth potential of Indonesia's used car market. The objective of the report is to assess the market's historical performance and current status while identifying key drivers that will shape its future growth trajectory. It offers detailed insights into various market aspects, including car types, fuel types, car brands, different cities and regions, channel types, and dealer types. Ultimately, the research report seeks to offer stakeholders a thorough analysis of Indonesia's used car market, helping them understand its current state, anticipate future growth opportunities, and identify potential investment and strategic decision-making prospects.
Period of Study
2018 - 2023: Past and Present Scenario
2023: Base Year
2024 - 2028: Future Outlook of the Market
Key Areas Discussed in the Report
By Brand
Toyota
Daihatsu
Honda
By Car Type
Toyota Avanza
Daihatsu Sigra
Mitsubishi Xpander
Honda Mobilio
By Body Type
Sedan
SUV
Hatchbacks
MPV
Commercial
LCGC
By Cities
Jakarta
Sumatra
Surabaya
Medan
By Fuel Type
Petrol
Diesel
Hybrid
EV
By Age Group
Competitive Landscape
Mergers/Acquisitions/Divestments
Funding Timeline
Company Profiles
Companies Covered
Carsome
mobil88
Toyota Trust
PT Tunas Ridean Tbk
iCarAsia
PT Serasi Autoraya (SERA)
Oto.com
Carro
Autopedia Sukses Lestari Tbk
Key Questions Answered
1. How has the Indonesia used car market performed historically, and what is the current scenario?
2. What is Indonesia's position in global trade, and how does this relate to the present state of the used car trade market?
3. How has the trade in Indonesia's used car industry impacted the market?
4. What are the various challenges faced by the used car market in Indonesia?
5. Which city exhibits the highest demand for used cars in Indonesia?
6. What are the key segments of the used car market in Indonesia?
7. Which types of used cars are experiencing increased demand in Indonesia's market?
8. Which city shows the most potential for growth in the future?
9. Which fuel type dominates the used car market in Indonesia?
10. How is the electric vehicle (EV) industry expected to grow in the future in Indonesia?
11. Who are the leading players in the Indonesia used car market, and what is the current investment scenario?
12. What opportunities are expected to drive revenue growth in the Indonesia used car market?
Indonesia Used Car Market Revenue Performance
In 2023, the Indonesia used car market witnessed a significant increase in revenue demonstrating a remarkable Y-o-Y growth rate of 15%. The sales of cars are expected to rise, particularly in Jakarta, where the sales of new and used cars are nearing parity.
The Indonesia used car market presents a dynamic and diverse landscape, influenced by various factors such as car brand preferences, distribution channels, popular car models, body types, fuel types, city and regional trends, and age group preferences. As one of the largest automotive markets in Southeast Asia, Indonesia offers a wide array of choices for consumers looking to purchase pre-owned vehicles. Understanding the market trends and preferences across these categories is crucial for stakeholders seeking to navigate this competitive and evolving market successfully. This analysis delves into the nuances of the Indonesia used car market, providing insights into the key factors shaping its growth and future trajectory.
The used car market in Indonesia is also experiencing intense competition among key players, all vying for a larger market share in this rapidly evolving sector. Leading companies such as Carsome, PT Serasi, Carro, Oto, and OLX Indonesia are at the forefront of this competition, employing innovative strategies and expanding their presence to meet the increasing demand for high-quality pre-owned vehicles. As the market grows, online platforms are gaining popularity, with companies striving for market dominance by offering superior service quality, competitive pricing, and leveraging technological advancements.
Overall, competition in Indonesia's used car market is dynamic, driven by technological advancements, the growth of organized dealerships, and infrastructure developments. Companies that prioritize innovation, target younger consumers, and engage in strategic partnerships are well-positioned to capitalize on emerging opportunities and maintain a competitive advantage in this evolving landscape.
Key Highlights of Major Players in the Indonesia Used Car Market
- PT Tunas operates in the used car segment through its subsidiary, PT Tunas Asset Sarana, with outlets in Jakarta and Bandung.
- Carro has made a significant impact in Indonesia, with over 5,000 used car dealers, its primary target customers, now using its platform. This represents about 30.6% of new automotive sales in Southeast Asia. - - Carro's Buyback platform has been instrumental, allowing dealers to increase their inventory size, sales, and profitability by up to three times, according to the company.
- Indonesia has set an ambitious target of manufacturing 600,000 electric vehicles (EVs) by 2030, a substantial increase from the number sold in the country in the first half of this year. This goal is more than 100 times the number of EVs sold in Indonesia during the same period. This trend is expected to further boost the used car market revenue to IDR 1,485 trillion (USD 79.87 billion) with a growth rate of 6.68%.
Future Growth Opportunities in Indonesia Used Car Market
The future outlook for the Indonesia used car market appears promising, buoyed by the increasing adoption of online platforms, rising demand for affordable transportation, and the digitalization of the automotive industry. These trends are expected to drive market growth and innovation, providing consumers with more convenient and accessible options for buying and selling used cars, especially in new and emerging towns across the country. Companies that adapt to these trends and effectively utilize technology are likely to thrive in this evolving market. Overall, the Indonesia used car market is poised for continued growth and development in the years ahead.
The growing demand for used cars in Indonesia is anticipated to be a major growth driver, supported by the increasing presence of organized players, with revenue expected to reach more than IDR 1,000 trillion. Despite this growth, unorganized players are also expected to maintain a presence in the market during the forecast period.
In conclusion, the Indonesia used car market is dynamic, driven by evolving consumer preferences and technological advancements. Key players are continuously innovating and expanding to meet the increasing demand for quality pre-owned vehicles, particularly through online platforms. The market's growth potential is highlighted by ongoing mergers, acquisitions, and strategic investments aimed at expanding market reach and offering comprehensive solutions. As the market evolves, companies that can adapt to changing trends and prioritize customer needs are likely to succeed and establish a strong presence in this dynamic sector.
Scope of Indonesia Used Car Market Report
The research report titled " Indonesia Used Car Market Analysis and Forecast (2019-2030) - by Brand, Car Type, Body Type, Fuel Type, Cities and Age Group" by Makreo Research aims to provide a comprehensive analysis of the performance and future growth potential of Indonesia's used car market. The objective of the report is to assess the market's historical performance and current status while identifying key drivers that will shape its future growth trajectory. It offers detailed insights into various market aspects, including car types, fuel types, car brands, different cities and regions, channel types, and dealer types. Ultimately, the research report seeks to offer stakeholders a thorough analysis of Indonesia's used car market, helping them understand its current state, anticipate future growth opportunities, and identify potential investment and strategic decision-making prospects.
Period of Study
2018 - 2023: Past and Present Scenario
2023: Base Year
2024 - 2028: Future Outlook of the Market
Key Areas Discussed in the Report
By Brand
Toyota
Daihatsu
Honda
By Car Type
Toyota Avanza
Daihatsu Sigra
Mitsubishi Xpander
Honda Mobilio
By Body Type
Sedan
SUV
Hatchbacks
MPV
Commercial
LCGC
By Cities
Jakarta
Sumatra
Surabaya
Medan
By Fuel Type
Petrol
Diesel
Hybrid
EV
By Age Group
Competitive Landscape
Mergers/Acquisitions/Divestments
Funding Timeline
Company Profiles
Companies Covered
Carsome
mobil88
Toyota Trust
PT Tunas Ridean Tbk
iCarAsia
PT Serasi Autoraya (SERA)
Oto.com
Carro
Autopedia Sukses Lestari Tbk
Key Questions Answered
1. How has the Indonesia used car market performed historically, and what is the current scenario?
2. What is Indonesia's position in global trade, and how does this relate to the present state of the used car trade market?
3. How has the trade in Indonesia's used car industry impacted the market?
4. What are the various challenges faced by the used car market in Indonesia?
5. Which city exhibits the highest demand for used cars in Indonesia?
6. What are the key segments of the used car market in Indonesia?
7. Which types of used cars are experiencing increased demand in Indonesia's market?
8. Which city shows the most potential for growth in the future?
9. Which fuel type dominates the used car market in Indonesia?
10. How is the electric vehicle (EV) industry expected to grow in the future in Indonesia?
11. Who are the leading players in the Indonesia used car market, and what is the current investment scenario?
12. What opportunities are expected to drive revenue growth in the Indonesia used car market?
Table of Contents
146 Pages
- 1. Research Methodology
- 1.1. Research Objective
- 1.2. Research Design and Procedure
- 1.3. Data Collection Methods
- 1.4. Research Methodology
- 1.5. Analytical Framework
- 2. Indonesia EPTD (Economic, Political, Technology, Demographic) Analysis
- 2.1. EPTD Analysis: Indonesia Economic Overview
- 2.1.1. Indonesia Economic Overview: FDI in Motor Vehicle Industry
- 2.2. EPTD Analysis: Indonesia Political Overview
- 2.3. EPTD Analysis: Indonesia Technological Overview
- 2.4. EPTD Analysis: Indonesia Demographic Overview
- 3. Indonesia Trade Performance
- 3.1. Indonesia Overall Trade Performance
- 3.2. Indonesia Import of Motor Vehicles by Countries
- 3.2.1. Indonesia Import of Motor Vehicles by Products
- 3.3. Indonesia Top Exporting Countries of Used Vehicle
- 3.3.1. Indonesia Export of Motor Vehicles by Countries
- 3.3.2. Indonesia Export of Motor Vehicles by Products
- 4. Indonesia Used Car Market Past and Present Performance
- 4.1. Indonesia Used Car Market – Past and Present Analysis
- 4.2. Indonesia GDP Contribution to Automobile Industry
- 4.2.1. Indonesia Automobile Production Facts
- 4.2.2. Indonesia Used Car Market Automotive Sales
- 4.3. Indonesia Car Ownership Key Facts
- 4.4. Indonesia Used Car Market: An Overview
- 4.5. Indonesia Positioning in Car Ownership among South East Asian Countries
- 4.6. Demand of New Cars vs Used Cars
- 4.7. Indonesia BEV Roadmap Formulated by the Ministry of Industry
- 4.8. Indonesia Used Car Market Regulatory Policies and Laws
- 5. Indonesia Used Car Market Segmentation
- 5.1. Indonesia Used Car Market Segmentation
- 5.2. Indonesia Used Car Market Segmentation by Car Brands
- 5.3. Indonesia Used Car Market Segmentation by Car Type
- 5.4. Indonesia Used Car Market Segmentation by Channel and Vehicle Mileage
- 5.5. Indonesia Used Car Market Segmentation by Body Type
- 5.6. Indonesia Used Car Market Segmentation by Cities
- 5.7. Indonesia Used Car Market Segmentation by Fuel Type
- 5.8. Indonesia Used Car Market Segmentation by Age Group
- 5.8.1. Indonesia Used Car Market Segmentation by Age Group
- 6. Indonesia Used Car Market - Competitive Landscape
- 6.1. Indonesia Used Car Market: Competitive Landscape
- 6.2. Market Mergers /Acquisitions/ Investments 2018 – 2023
- 6.3. Funding Timeline
- 7. Indonesia Used Car Market - Company Profiles
- 7.1. Company Profile: Carsome
- 7.2. Company Profile: mobil88
- 7.3. Company Profile: OLX Indonesia (Prosus)
- 7.4. Company Profile: Toyota Trust (PT Astra Auto Trust)
- 7.5. Company Profile: PT Tunas Ridean Tbk
- 7.6. Company Profile: Oto.com (PT. Carbay Services Indonesia)
- 7.7. Company Profile: iCarAsia
- 7.8. Company Profile: PT Serasi Autoraya (SERA)
- 7.9. Company Profile: Carro
- 7.10. Company Profile: Autopedia Sukses Lestari Tbk.
- 8. Indonesia Used Car Market Future Outlook
- 8.1. Indonesia Used Car Market Future Outlook
- 9. Indonesia Used Car Market – Challenges & Opportunities
- 9.1. Indonesia Used Car Market Challenges
- 9.2. Indonesia Used Car Market Opportunities
- Limitations of the Study
Pricing
Currency Rates
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