Singapore Used Car Market Outlook Report 2022-2025 - Largest Share of the Market is Held by the Multi-Brand Dealers

Dublin, June 07, 2022 (GLOBE NEWSWIRE) -- The "Singapore Used Car Market Outlook to 2025: Increasing Used Cars Demand Due to the Pandemic Contributes to Increase in Used Cars Sales During the Economic Crisis" report has been added to's offering.

The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on.

The used car industry in Singapore is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 11.1% (by value in SGD Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space

Certain foreign established C2B players are too considering Singapore Used Car market a growing and profitable venture. Moreover, people in Singapore are realizing the advantages of buying a pre-owned car as there has been a shift in the general consumer preferences.

The report also covers a snapshot on Singapore online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. Singapore Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario.

Singapore Used Car Market Overview and Size

Singapore Used Car market is in its growth phase, increasing at a CAGR of -3.1% (by value in SGD Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in Singapore.

Snapshot on Online Used Car Landscape

The online Used Car Market has been gaining traction in the last few years. There has been an immense expansion in the lead generation of used cars via the online means in the last decade. Facebook, Instagram and other social networking sites plays a key role in expanding the used cars market in Singapore.

Emergence of online auto-portals and classified platforms such as Carousell and DBS Car Marketplace have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. The increasing internet penetration of the used cars market in the country is contributing positively to the growth of the industry.

Competitive Landscape of Singapore Used Car Market

There exists intense competition in the fragmented market with various authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry.

The largest share of the market is held by the multi-brand dealers. While the banks also fall under the B2C organized segment, they do not exhibit any competitive characteristics as their sole purpose is to recover the losses incurred due to the delinquency of the borrowers. In order to compete with authorized dealers, most multi-brand dealers are providing value added services in order to retain and expand their market share.

Key Topics Covered:

1. Executive Summary
1.1 Flow Chart
1.2 Used Car Ecosystem
1.3 Genesis of Used Car Industry in Singapore
1.4 Used Car Offline Business Models
1.5 Cross Comparison across Countries

2. Country and Economic Overview
2.1. Ease of Doing Business in Singapore
2.2. Macro Economic Overview
2.3. Demographic Overview
2.4 Future Outlook and Projections for C2B Online Platforms Market
2.5 E-Commerce Overview
2.6 E-Commerce Penetration

3. Supplementary Services
3.1 Singapore Auto Finance Market Ecosystem
3.2 Trends and Developments in Singapore Auto Finance Industry
3.3 Singapore Auto Finance Aggregator Market Overview
3.4 Impact of Aggregator Platforms on Various Financial Institutions
3.5 Case Study: LENDELA
3.6 Comparison between Banks and Auto Dealers
3.7 Government Policies Affecting Singapore Auto Finance Industry
3.8 Auto Insurance
3.9 Major Aftersales Services
3.10 Aftermarket
3.11 Warranties

4. Overview, Opportunity & Current Scenario of the Industry
4.1 Value Chain of Used Car Industry in Singapore
4.2 Used Car Value Chain Analysis on the Basis of Stages
4.3 Sourcing of Used Cars for Dealers and Direct Buyers in Singapore
4.4 Lead Generation of Used Cars for Dealers and Direct Consumer Purchases in Singapore
4.5 SWOT Analysis
4.6 Competition Scenario

5. Demand & Supply Analysis
5.1 Market Sizing Analysis for Singapore Used Car Industry basis Volume & GTV, 2015-2020
5.2 Impact of Covid-19
5.3 Segmentation: By Market Structure (Organized and Unorganized Market), 2020
5.4 Further Segmentation of Organized Channel: By Source of Lead Generation (Online and Dealership Walk-Ins), 2020
5.5 Further Segmentation of Organized Market: Basis Sales Chanel (B2C and C2C), 2020
5.6 Further Segmentation of B2C: Basis Sales Chanel (Multi Brand Dealerships, Direct Dealership Sales Agent and Banks Repossessed), 2020
5.7 Segmentation: By Car Body Type (SUVs, Sedans, Hatchbacks, MPVs, Sports Cars, Stationwagon), 2020
5.8 Segmentation: By Brand (Toyota, Honda, Mercedes Benz, BMW, Hyundai, Audi, Volkswagen, Kia, Mazda, Nissan and Others) , 2020
5.9 Segmentation: By Mileage (20 - 50 Km, 50 - 100 Km, 100 - 150 Km, 150 - 200 Km, 200 km and Beyond), 2020
5.10 Segmentation: By Regions (North, East, West, South, Central), 2020
5.11 Segmentation: By Vehicle Age ( 0-1 years, 1-3 years, 3-5 years, 5-8 years, more than 8 years), 2020
5.12 Segmentation: By Engine Size (1000 cc& Below, 1001 - 1600 cc, 1601 - 2000 cc, 2001 - 3000 cc, 3001 & Above), Ownership (1, 2, 3, 4, 5, 6, 6+) and Car Parcs, 2020

6. Industry Analysis
6.1 Business Trends and Developments
6.2 Issues and Challenges
6.3 Government Regulations
6.4 Sales Regulations: Lemon Law
6.5 Car Inspection
6.6 Car Transfer Regulation
6.7 Car Engine Requirements
6.8 Used Car Financing Options
6.9 Decision Making Process in Buying a Used Car in Singapore

7. Snapshot on Online Used Car Platforms in Singapore
7.1 Customer Pain Points in Used Car Industry
7.2 Online Used Car Marketplaces Business Models
7.3 Proposed Business Framework
7.4 Online Used Cars Transactional Platforms in Singapore
7.5 Competition Scenario - Market Positioning of Auto Classified Portals
7.6 Cross Comparison Between Existing Online Retail Models in Singapore Used Car Market
7.7 Strengths and Weaknesses of Major Online Auto Portals
7.8 Cross Comparison Between Existing Online Retail Models on Services

8. Competition Landscape
8.1 Competition Landscape for Singapore Used Car Market

9. Company Profiles - Authorized Dealers
9.1 Republic Auto Pte Ltd
9.2 Borneo Motors Pte Ltd
9.3 Select by Performance Premium Selection Ltd
9.4 Volkswagen's Das Welt Auto
9.5 Eurokars Pre-Owned Pte Ltd

Case Study Analysis
15.1 CarTrade (India)
15.2 Cars24 (India)
15.3 CarSwitch (UAE)

Companies Mentioned

  • Cycle & Carriage Industries
  • Inchcape plc
  • Performance Motors Ltd
  • Volkswagen Group
  • Eurokars Group of Companies
  • Vin Car
  • 88 Motor Trading
  • Prime Motor & Leasing
  • Hua Yang Credit
  • Creative Auto
  • Carousell
  • DBS Car Marketplace
  • C2B
  • SgCarMart
  • Carro
  • Motorist
  • Car Times Automobiles
  • Cosmo Automobiles
  • Carsome
  • DirectCars
  • Otopac Motors

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