Southeast Asia Used Cars Market: Current Analysis and Forecast (2025-2033)

Southeast Asia Used Cars Market Size & Forecast

The Southeast Asia Used Cars Market was valued at ~USD 32,376.96 million in 2024 and is expected to grow at a strong CAGR of approximately 8.77% during the forecast period (2025-2033F), driven by a rising middle-income population expanding demand for affordable mobility.

Southeast Asia Used Cars Market Analysis

Used cars are vehicles that are owned by one or more previous owners and are resold by dealers, marketplaces, or individuals. It consists of a significant portion of the automobile market, offers more competitive prices, and provides more flexible financing and greater availability to consumers.

The used-car ecosystem in Southeast Asia is shifting towards structured, digital-first business models, where platforms combine reliability centers, refurbishment centers, financing offerings, and confirmed listings to enhance transparency. Adding to this, major players in the market are investing in AI-based pricing engines, diagnostic tools, and real-time valuation systems to standardize resale values. Additionally, increasing expansion of omni-store retail models through online booking, test drives at home, doorstep delivery, and extended service warranties. Moreover, increasing collaboration with banks, NBFCs, insurance companies, and roadside assistance networks is enhancing the reliability of end-to-end services. Certified pre-owned platforms are also scaled, offering buyback programs, subscription plans, and trade-in programs to expedite customer acquisition and resale.

On November 11, 2025, OneLot, the Philippines’ leading financing platform for used car dealers, raised USD3.3 million in seed funding, the country’s largest round of funding in 2025, to expand affordable financing and digital tools for independent dealerships. The round was co-led by Accion Ventures and 468 Capital, with new participation from Everywhere Ventures and Seedstars, and continued backing from Crestone Venture Capital, Kaya Founders, and notable angels, including Georg Steiger (BillEase) and Jojo Malolos (Paymongo). The fresh capital will accelerate OneLot’s mission to empower used car entrepreneurs with faster access to credit, AI-driven underwriting, and technology solutions that help them grow their businesses.

Southeast Asia Used Cars Market Trends

This section discusses the key market trends that are influencing the various segments of the Southeast Asia Used Cars market, as found by our team of research experts.

AI-Powered Pricing, Inspection, and Demand Forecasting

The use of AI in pricing, inspection, and demand forecasting is emerging as a trend in the used-car market in Southeast Asia, as platforms are turning to machine learning to provide more precise valuations and reduce pricing conflicts. The use of image-based inspection tools helps reveal hidden damage, enabling companies to standardize quality checks across extensive inventories. Predictive analytics is enhancing stock planning by determining which stock models will sell the quickest in each city. This automation transformation is saving time during operations, minimizing fraud, and improving trust among buyers. The more it is adopted, the more AI becomes a central capability, making the company more competitive and improving the customer experience across the ecosystem.

Southeast Asia Used Cars Industry Segmentation

This section provides an analysis of the key trends in each segment of the Southeast Asia Used Cars market, along with forecasts at the country level for 2025-2033.

The hatchback used cars market held the dominant share of the Used Cars market in 2024.

Based on vehicle type, the market is segmented into hatchback, sedan, sports utility vehicle (SUV), and others. Among these, the hatchback used cars market held the largest share in 2024. This is mainly due to the region's price-sensitive urban commuters, which makes it the simplest point of entry for first-time buyers. Additionally, reduced maintenance expenses and a good resale value enhance platform and dealer turnover. Moreover, a surge in high-volume, sustained demand helps companies scale inventory cycles and improve market penetration.

The electric segment is expected to grow at a significant CAGR during the forecast period (2025-2033).

Based on fuel type, the market is segmented into diesel, petrol, CNG/LPG, electric, and hybrid. Among these, the electric segment is expected to grow at a significant CAGR during the forecast period (2025-2033). The growing provision of used EVs serves as a long-term growth lever because consumers value cheaper running and cleaner mobility. Those companies that shift to EV-oriented inspection, battery health diagnostics, and warranty schemes have a competitive advantage from the outset. The increasing incentives from the government to use EVs also help drive buyer adoption quickly and increase the scale of the used-EV market. On September 17, 2025, Carro, Southeast Asia’s leading online car marketplace, raised USD 60 million in a round led by Cool Japan Fund (Japan’s sovereign wealth fund), with participation from several new investors. This investment will go towards bolstering the demand for Japanese cars across the Asia Pacific, where Carro has a presence. To increase the market share of Japanese Plug-in Hybrid Electric Vehicles (PHEV) in the time to come.

Indonesia held a dominant share of the Southeast Asian Used Cars market in 2024

The used-car market in Southeast Asia is dominated by Indonesia, driven by the region's highest vehicle count and high demand from an expanding middle-income group, which ensures a steady flow of transactions. The companies are increasingly expanding inspection centers, refurbishment hubs, and retail display rooms in upcoming Tier-2 cities to accommodate this scale. Moreover, the partnership with banks, fintech lenders, insurance companies, and fleet operators is enhancing end-to-end service and maintaining a constant stream of quality inventory. In addition, digital penetration is increasing rapidly, and platforms that combine online discovery with offline touch are driving rapid user adoption. The regulatory pressure for safer, more transparent transactions in Indonesia is accelerating the transition to organized players. Thus, Indonesia is the locus of used-car growth in Southeast Asia, driven by the explosion in adoption and partnerships.

On May 6, 2025, Astra and Toyota strengthened their strategic partnership and expanded collaboration in the used car business in Indonesia through a partnership in PT Astra Digital Mobil (ADMO). Toyota Motor Asia (Singapore) Pte. Ltd. (TMA) acquired 40% of ADMO. TMA’s acquisition was through a subscription of new shares and acquisition of existing shares, with a total value of USD 120 million, or approximately Rp 2.0 trillion. After this transaction, Astra, through PT Astra Digital Internasional (ADI), retained control over ADMO with a 60% share ownership. 

Southeast Asia Used Cars Industry Competitive Landscape

The Southeast Asia Used Cars market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Southeast Asia Used Cars Companies

Some of the major players in the market are Carro, CARSOME Sdn Bhd, Motor Trader (MT Digital Sdn Bhd), Cardekho SEA (Cardekho Group), Mudah.my Sdn Bhd, OLX (Astra), AutoDeal (Sirqo Group Inc.), Sgcarmart, SBT CO., LTD., CHOBROD CO., LTD.

Recent Developments in the Southeast Asia Used Cars Market

• On August 21, 2025, Carro, Asia Pacific's largest and fastest-growing online used car platform, signed a Memorandum of Understanding with fintech platform SY Holdings, entering a strategic partnership that will support Carro's expansion plans through tech-enabled financing solutions. This strategic partnership will leverage artificial intelligence, predictive analytics, and API-based integrations to optimise efficiency, accelerate funding cycles, and enhance scalability while maintaining governance and compliance.

• On September 22, 2024, Schaeffler Manufacturing (Thailand) Co., Ltd., in collaboration with iCar Asia (Thailand) Co., Ltd., launched the ONE2CAR x REPXPERT Collaboration project. This initiative aims to enhance the skills of professional automotive mechanics by setting standards and improving repair and maintenance skills for used car service centers through the REPXPERT mobile training center. The goal is to elevate service quality and build consumer confidence in purchasing used cars from dealers. The first phase targets 80 professional automotive mechanics.

Southeast Asia Used Cars Market Report Coverage

Reasons to Buy the Southeast Asia Used Cars Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, product portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

Customization Options:

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