Thailand Used Car Market
Source: The Report Cube
Understand The Key Trends Shaping This Market
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The Thailand Used Car Market is anticipated to register a CAGR of around 7.5% during the forecast period, i.e., 2024-32. Also, the market size was valued at nearly USD 5.7 billion in 2023. Technology, consumer tastes, government regulations, and the state of the economy all have an impact on the dynamic & often changing Used Car Market in Thailand. The size & diversity of the country’s used automobiles are indicative of the nation’s thriving automotive sector & strong need for reasonably priced mobility options. The demand for used cars is rising across the country owing to the rising middle class & increased urbanization, which generates a substantial need for dependable & affordable mobility solutions.
Moreover, numerous cars satisfy a broad range of preferences & financial limitations. Customers have access to a wide range of pre-owned automobiles from both domestic & foreign manufacturers, ranging in size from little hatchbacks to roomy SUVs. Owing to this diversity, consumers have several options, which enhances the Thailand Used Car Market size. Besides, affordability plays a critical role in driving the market demand. Considering the fact that the cost of new cars is still rising, especially for models with cutting-edge features & technologies, numerous buyers prefer used cars as a more affordable option.
Also, the ease of use provided by internet platforms has greatly elevated the reach of the Used Car Market Trends & drawn in a larger group of tech-savvy buyers. Furthermore, purchasers with limited funds are always looking for cheap alternatives that could fulfill their requirements, and thailand car market share are one of the most appealing options for such buyers. The Thailand Used Car Sales is predicted to experience more expansion & change as the automotive industry continues to diversify, driven by the shifting consumer demands & market dynamics in the forthcoming years.
Thailand Used Car Market Dynamics
- Growing Demand for Affordable Automobiles Among the Middle-Class Population of Thailand
The rising demand for reasonably priced mobility represents a profitable ground for the Thailand Used Car Sales. Several buyers are looking for more affordable cars, however, new car prices are too high or keep on increasing with time, thus used cars come as the most preferred option for such buyers. This, in turn, gives Used Car Market companies a chance to serve a vast range of consumers looking for reasonably priced cars. Moreover, businesses can take advantage of the rising industry base and offer innovative options to consumers. Also, nowadays, as many of the used car companies are offering financial options & loans, it is easier for the customer to buy these cars in installments as well.
- Reliability & Quality Issues to Hinder the Market Growth
The quality & reliability concerns across the country related to the used cars could lower the confidence of the consumers. The degree of wear & tear on used cars can vary based on aspects, like prior usage, age, and maintenance records. Buyers may be faced with unforeseen maintenance & repair expenses if there is no trustworthy way to evaluate these concerns. Also, it is possible for sellers to withhold details about the repair or damage, which could lead to customers knowing about these issues after the purchase, thus causing resentment among the consumer. This, in turn, might aid in limiting the Thailand Used Cars Market growth.
Thailand Used Car Market Segment-wise Analysis
By Booking Type
- Online
- Offline
Online booking type to seize the potential share of the Thailand Used Car Market Trends. With the growing emergence of e-commerce platforms across the country, the purchase of used cars via online source is boosting with time. The advent of online classified platforms, such as CarSome, Carro, iCar Asia, and many more has been pushed by the expansion of internet advertising, which has completely transformed the way used cars are sold in Thailand. Moreover, these competitors saw a significant surge in revenue from the marketplace as a result of the rise in online car sales, in addition to revenue from other sources, including subscriptions, advertising, and other value-added services.
By Type of Market:
- Organized
- Unorganized
- Others
With the consumer’s shifting perspectives on quality assurance, dependability, and aftersales assistance Organized segment is anticipated to lead in the Thailand Used Car Sales, by holding the potential market share. In comparison to an unorganized market, which frequently lacks accountability & transparency, an organized market provides value-added services, such as comprehensive car inspections, warranty options, and uniform pricing. Owing to these factors, consumers feel more confident about buying used cars, thus enhancing the market share.
Furthermore, organized participants in the thailand car market share are now more visible & accessible owing to the emergence of online platforms. Consumers may pursue a wide range of vehicles, assess their alternatives, and make well-informed decisions by using platforms like Carsome, which offer a well-chosen assortment of pre-owned cars from respectable dealerships.
Additionally, more buyers are gravitating towards organized sellers who provide complete services, including insurance solutions, hassle-free documentation, and financing aid, owing to their rising preference for simplicity & streamlined procedures.
What Does Our Thailand Used Car Market Research Study Entail?
- Thailand Used Car sMarket Trends Research Report highlights the forecast growth rate or CAGR by anticipating the market size & share.
- The market analysis puts light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
- Thailand Used Cars Market Research Report entails details about the most critical shifts in market share in the prominent regions.
- Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.
Table of Contents
- Introduction
- Objective of the study
- Product Definition
- Market Segmentation
- Study Variables
- Research Methodology
- Secondary Data Points
- Companies Interviewed
- Primary Data Points
- Break Down of Primary Interviews
- Secondary Data Points
- Executive Summary
- Market Dynamics
- Drivers
- Challenges
- Opportunity Assessment
- Recent Trends and Developments
- Key Factors Considered by End user (Customers, Dealers) while Selecting a Used Car
- Price Comparison Between New car and a Used Car
- Thailand Used Car Market Overview (2020-2032)
- Market Size (in USD Millions)
- Thailand Used Car Market Share, By Market Segment (In percentage)
- By Vehicle Type
- By Fuel Type
- By Booking Type
- By Type of Market
- Thailand Used Car Market Share, By Vehicle Type (In percentage)
- Hatchbacks
- Sedans
- SUV and MUV’s
- Thailand Used Car Market Share, By Fuel Type (In percentage)
- Petrol
- Diesel
- Others
- Thailand Used Car Market Share, By Booking Type (In percentage)
- Online
- Offline
- Thailand Used Car Market Share, By Type of Market (In percentage)
- Organized
- Unorganized
- Others
- Thailand Used Car Market Share, By Company (In percentage)
- Competition Characteristics
- Revenue Shares & Analysis
- Competitive Outlook (Company Profiles)
- CARS24 Group Thailand Co, Ltd.
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- iCarAsia.com
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- UsedcarBangkok.com
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- SiamMotorworld
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Honda Certified Used Car (Honda Automobile (Thailand) Co. Ltd
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Motors.co.th Limited (Motors Co Ltd)
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Carsome
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Motors.co.th Limited (Motors Co Ltd)
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Pixy Asia Co. Ltd
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Asia Web Holding (Thailand) Co. Ltd
- Company Overview
- Business Segments
- Strategic Alliance/Partnerships
- Recent Developments
- Financials
- Others
- CARS24 Group Thailand Co, Ltd.
- Contact Us & Disclaimer
List of Figure
Figure 1: Thailand Used Car Market Size (in USD Millions) (2020-2032)
Figure 2: Thailand Used Car Market Share, By Market Segment (In Percentage)
Figure 3: Thailand Used Car Market Share, By Vehicle Type (In Percentage)
Figure 4: Thailand Used Car Market Share, By Fuel Type (In Percentage)
Figure 5: Thailand Used Car Market Share, By Booking Type (In Percentage)
Figure 6: Thailand Used Car Market Share, By Type of Market (In Percentage)
Figure 7: Thailand Used Car Market Share, By Company (In Percentage)
Figure 8: Price Comparison Between New Car and Used Car
Figure 9: Key Factors Considered by End Users While Selecting a Used Car
Figure 10: Market Dynamics – Drivers
Figure 11: Market Dynamics – Challenges
Figure 12: Market Dynamics – Opportunity Assessment
Figure 13: Recent Trends and Developments in Thailand Used Car Market
Company Profiles and Competitive Analysis Figures
Figure 14: Revenue Shares & Analysis of Leading Used Car Companies in Thailand
Figure 15: Competitive Outlook – CARS24 Group Thailand Co., Ltd. Financial Summary
Figure 16: Competitive Outlook – iCarAsia.com Financial Summary
Figure 17: Competitive Outlook – UsedcarBangkok.com Financial Summary
Figure 18: Competitive Outlook – SiamMotorworld Financial Summary
Figure 19: Competitive Outlook – Honda Certified Used Car (Honda Automobile Thailand) Financial Summary
Figure 20: Competitive Outlook – Motors.co.th Limited Financial Summary
Figure 21: Competitive Outlook – Carsome Financial Summary
Figure 22: Competitive Outlook – Pixy Asia Co. Ltd Financial Summary
Figure 23: Competitive Outlook – Asia Web Holding (Thailand) Co. Ltd Financial Summary
List of Table
Table 1: Objective of the Study
Table 2: Product Definition
Table 3: Market Segmentation
Table 4: Study Variables
Table 5: Research Methodology
Table 6: Secondary Data Points
Table 7: Companies Interviewed
Table 8: Primary Data Points
Table 9: Break Down of Primary Interviews
Table 10: Market Size (in USD Millions) – Year-wise Data
Table 11: Thailand Used Car Market Share by Market Segment (In Percentage)
Table 12: Thailand Used Car Market Share by Vehicle Type (In Percentage)
Table 13: Thailand Used Car Market Share by Fuel Type (In Percentage)
Table 14: Thailand Used Car Market Share by Booking Type (In Percentage)
Table 15: Thailand Used Car Market Share by Type of Market (In Percentage)
Table 16: Thailand Used Car Market Share by Company (In Percentage)
Table 17: Price Comparison Between New Car and Used Car
Table 18: Key Factors Considered by End Users While Selecting a Used Car
Table 19: Drivers of Thailand Used Car Market
Table 20: Challenges in Thailand Used Car Market
Table 21: Opportunity Assessment for Thailand Used Car Market
Table 22: Recent Trends and Developments
Company Profiles and Financials
Table 23: CARS24 Group Thailand Co., Ltd – Business Segments and Financials
Table 24: iCarAsia.com – Business Segments and Financials
Table 25: UsedcarBangkok.com – Business Segments and Financials
Table 26: SiamMotorworld – Business Segments and Financials
Table 27: Honda Certified Used Car (Honda Automobile Thailand) – Business Segments and Financials
Table 28: Motors.co.th Limited – Business Segments and Financials
Table 29: Carsome – Business Segments and Financials
Table 30: Pixy Asia Co. Ltd – Business Segments and Financials
Table 31: Asia Web Holding (Thailand) Co. Ltd – Business Segments and Financials
Top Key Players & Market Share Outlook
- CARS24 Group Thailand Co Ltd.
- iCarAsia.com,
- UsedcarBangkok.com
- SiamMotorworld
- Honda Certified Used Car (Honda Automobile (Thailand) Co. Ltd
- Motors.co.th Limited (Motors Co Ltd)
- Carsome
- Motors.co.th Limited (Motors Co Ltd)
- Pixy Asia Co. Ltd
- Asia Web Holding (Thailand) Co. Ltd
- Others.
Frequently Asked Questions
