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GURUGRAM, India, June 29, 2021 /PRNewswire/
Automotive slowdown & the COVID-19 pandemic brought a sustained downward trend in new passenger car sales in 2020 in Indonesia.
The Multi Brand car service market is anticipated to grow with a CAGR of 4.3% during the forecast period 2021-2026.
Surging Used Car Sales in Tier II Cities: Indonesia is one of the largest automotive and used car markets in Southeast Asia. It is home to many OEMs having production and assembling plants in the country. Indonesia is witnessing a surge in the used car sales in Tier II cities of Indonesia which is signaling the rising average age of car, therefore impetus for car service market. The growing urban population and disposable income among the working population are contributing to the growth of the used car industry. Higher population of middle income group in Tier II cities has lead to the growing demand for used cars. The easy availability of financing options, on the other hand
Indonesia Automotive Aftermarket Service Market is expected to reach about USD 13 6 Bn in Revenue by 2026: Ken Research finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
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- Automotive slowdown & the COVID-19 pandemic brought a sustained downward trend in new passenger car sales in 2021 in Malaysia
- The OEM/Authorized car service market is anticipated to grow with a CAGR of 11.7% during the forecast period 2020-2025
GURUGRAM, India, April 27, 2021 /PRNewswire/
Surging Vehicle Parc in Malaysia: Malaysian automotive industry in witnessing a growth in the number of vehicle parc, which is leading to higher demand for the multi brands and OEM car service companies in Malaysia. ~65% of the vehicle parc in Malaysia in 2020 comprised of post warranty cars that generally visit multi brand car service centers. Whereas, the pre warranty cars in the country prefer visiting the OEM car service centers. Multi brand service centers cost ~40% less as compared to the authorized car service center which is the major reason for consumer to shift to the multi brand service center during the post warranty period. The car pa