The automotive aftermarket service industry in Malaysia recorded a positive CAGR of ~% on the basis of revenue in between 2016 and 2021. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts, etc. Material and technology used for automotive manufacturing has improved from the past which increases the average age of vehicles.
Online Used Car Penetration
Overall Online Penetration for Used Car in Malaysia stands at 9.8% as of 2021. The Used Car Industry in Malaysia contributes ~1.0% to the country’s GDP. The key drivers of slowing growth were weaker demand for new cars reflecting the impact of decreased in level of income and slowing public investments.
Snapshot On Online Used Car Landscape
The online used car market has been emerging with the rise in the popularity of e-commerce platforms in the country. The growth of online advertising, which has fueled the rise of online classified platforms that have revolutionized the way in which pre-owned vehicles have been sold in the country. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions and other value-added services. Some of the largest players in the space follow a complete transaction marketplace model that provide consumers a completely digital experience and enable them to book test drive & buy used cars online. These platforms also provide ancillary services such as insurance, warranty, financing options & documentation support. They are expected to demonstrate a ~% CAGR till 2026 on account of growth in the online segment due to rapid internet penetration and increase in transaction volume due to preference of owning personal vehicles, mainly due to Covid-19.
Competition Scenario in Malaysia Used Car Market
There exists Intense competition in the highly fragmented market with various OEM certified, brand authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. Used Car Market in Malaysia has been dominated by B2C and OEM Dealerships which has captured majority share in the sales volume of used cars during 2020. Price, age, residual value of the vehicle, brand value, maintenance required are some of the most important factors impacting the preference of consumer. The players compete on parameters such as Product Portfolio, Distribution Network, Pricing, Discounts, and Geographical Location, Value Added Services, Collaborations & Partnerships and After Sales Service.
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Malaysia Used Car Market Future Outlook and Projections
The used car industry is expected to demonstrate strong demand arising due to preference of personal vehicles over public transportation, mainly on account of Covid-19 pandemic. The strong pent-up demand in used car sales as witnessed in in 2021 will drop slightly in 2022 on account of reduced govt. incentives and the volume will normalize. The sales of economical cars are also expected to increase over the forecast period. Use of advanced technologies such as AI to valuate car online by looking at the pictures only, 360-degree view of the interiors of the car, etc. to enhance digital experience of consumers. FMCCAM is planning to introduce new online marketplace and look for used car financiers from Japan, China and Taiwan so as to increase used car sales.
Key Segments Covered in Malaysia Automotive Aftermarket Service Market: –
By Type of Workshop
Multi Brand
OEM/Authorized
By Type of Multi Brand
Organized
Unorganized
By Type of Vehicle
Sedan
Hatchback
SUV
MPV
By Age of Car
0-5 Years
5-10 Years
10 and above years
By Region
Central
East
South
North
By Car Brand
Perodua
Proton
Honda
Toyota
Others
By Booking Mode
Online
Offline
By Service Split
Maintenance
Repair and Replacement
Body Care
Malaysia Spare Parts after Market Segmentation
By Type of Spare Parts
Electricals and Electronic Components
Suspension and Braking
Consumables and Miscellaneous
Cooling Systems
Rubber Components
Drive transmission and Steering
Others
Key Target Audience
Automotive companies
OEM Car Service companies
Multi brand Car Service companies
Automotive Spare Parts Companies
Time Period Captured in the Report:
Historical Period: 2015-2020
Forecast Period: 2020-2025
OEM Car Dealers/Service Providers:
Perodua
Proton
Honda
Toyota
Nissan
Mitsubishi
Multi Brand Car Dealers/Service Providers:
Dtox
Prestige Cars
Topbest Car Grooming
Autohaus KL
Top Speed
Auto Mobile Garage
Key Topics Covered in the Report: –
Malaysia Automotive Aftermarket Service Industry Overview
Ecosystem of Entities in Car Servicing in Malaysia
Trends and Development in Malaysia Automotive After Market Service Industry
Issues and Challenges in Malaysia Automotive After Market Service Industry
Porters Five Forces Analysis: Automotive Aftermarket Service in Malaysia
Government Regulation in Malaysia Automotive After Market Service Industry
Market Size of Malaysia after Market Service Industry
Malaysia Automotive Aftermarket Service Industry Segmentation
Competition in Malaysia OEM Aftermarket Industry
Strength and Weakness of Major Players in Malaysia OEM Automotive Aftermarket Industry
Competition in Malaysia Multi Brand Aftermarket Industry
Pricing Comparison of Major OEM Car Service Companies
Pricing Comparison of Major Multi Brand Car Service Companies
Operating Model of Organized and Unorganized Workshops
Operating Model of OEM Workshops
Malaysia Spare Parts Aftermarket Industry Overview
Sourcing Spare Parts for Automobile Service Centers (OEM/Authorized Service Centers & Multi-Brand Service Centers)
Malaysia Automotive Aftermarket Car Service Market Future Market Size
Future Outlook and Projections for Malaysia Automotive Service Market
Case Study: Autohaus KL
Analyst Recommendation
For More Information on the Research Report, Click on the Below Link: –
Future of Malaysia Automotive Aftermarket Service Market
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