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Thailand’s used car market is strong and provides consumers with a large selection of options. There is a wide selection of brands, models, and price points available in Thailand’s vast used automobile market.There are a lot of used vehicle dealerships in Thailand that provide a variety of options, including SUVs and compact automobiles, as well as different manufacturers and models.
CPO programmes, which supply used automobiles that have undergone inspections and refurbishments to satisfy particular quality criteria, are offered by some dealerships and manufacturers in Thailand.Due diligence should be carried out, any used vehicle of interest should be inspected, and the financial and legal ramifications of purchasing a used car in Thailand should be understood.
The Thailand used car market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
South East Asia’s used car market is expanding in Thailand, which is also gradually emerging from the pandemic-related economic downturn.When it comes to purchasing and selling used cars, consumers are moving away from conventional techniques and more often turning to internet platforms. Realising the potential of the business, a number of start-ups and auto portals from Southeast Asia are making inroads into the Thai market or growing their footprint through mergers and acquisitions.
During the coronavirus pandemic, there was a decline in the demand for used cars. Low supply as well as the shutdown of local tents and OEM dealerships during the lockdown were the causes of this. This was exacerbated by people delaying the purchase of new and old cars due to a decline in purchasing power.
Additionally, Thailand’s supply has decreased as a result of political and economic upheaval that it recently overcame. In addition to sales problems, the majority of banks were not seizing cars, which caused cash flow problems for used car dealers.
Many customers now prefer to buy and sell cars through online auto classifieds and social media due to the rising use of smartphones and the internet in the nation. Moreover, auction houses are investing more in internet marketing and using these channels to produce leads. More attention has been paid to the market, according to data from Google Trends.
