Indonesia Used Car Sales to Benefit from Soaring Inflation: Makreo Research

JAKARTA, Indonesia - Aug. 19, 2022 - PRLog -- Indonesia used car market has shown growth even before pandemic hit the pockets or inflation mounted. In terms of technology and the overall volume of cars produced, the Indonesian auto sector has advanced greatly. Currently Indonesia is experiencing low car ownership ratio as compared to the total households and this can be treated as an opportunity for the used car market in Indonesia. COVID-19 has given further boost with gap in demand and supply of new vehicles and rise in cost at the same time.

Indonesia Economy
Indonesia, a diversified archipelago nation with more than 300 ethnic groups, has the largest economy in Southeast Asia and has experienced exceptional economic development since emerging from the Asian financial crisis in the late 1990s.

In terms of purchasing power parity, Indonesia has the fourth-highest population in the world and the tenth-largest economy overall. Even if the number of COVID Delta variant cases spiked in the middle of the year in 2021, the country's GDP kept growing. Forecasts indicate that the GDP will grow by 3.7% in 2021 and 5.0% in 2022. Additionally, between 2020 and 2021, the COVID-19 fiscal response package was enhanced from 3.8 to 4.5% of GDP.

Automobile Market in Indonesia - Contribution to GDP

The automobile market in Indonesia contributed 4% to the GDP of Indonesia in 2021. There has been constant research and Developments in the auto sector of the nation as it is the major contributor to the growth of the economy.

Further Key Findings

§  Value-added Services Provisions: The market share of used automobiles is growing, thus dealers are attempting to draw more and more customers to it by registering as dealers and establishing themselves on different e-commerce dealing platforms. Along with selling old automobiles, they also offer value-added services.

Makreo Research has published a study on Used car industry in Indonesia, report titled "Indonesia Used Car Market Revenue and Forecast to 2027" is a detailed study that offers the reader review the industry past, present and future expected performance. Report discusses Indonesia used car sales growth and discuss in detail Indonesia used car market size. In presence of both organized and unorganized channel it is vital to understand the market from all possible areas including economy of the country, average spending power, demographic distribution, government initiatives, impact of external factors such as inflation, COVID-19 and others. The study helps the readers to gain insights on used car market forecast in Indonesia.

To know more about the publication and coverage, please refer to the link https://www.makreo.com/report/indonesia-used-car-market-r...

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