According to a new report by UnivDatos the Southeast Asia Used Cars Market is expected to reach USD Million in 2033 by growing at a CAGR of 8.77% during the forecast period (2025- 2033F). The rising demand for fuel-efficient mobility, the growing use of digital technologies, and the widening affordability gap between new and used vehicles drive the market. The uncertain economic conditions and high prices of new cars are forcing first-time car buyers into the used-car market. Also, a surge in smartphone penetration and access to online markets enhances price discovery, transparency, and trust. Moreover, increased access to funding sources and faster loan approvals make used vehicles more affordable. Therefore, the growing number of fleet operators and ride-hailing businesses is also contributing to an increase in certified inventory supply in Southeast Asia.

On December 11, 2024, CarDekho SEA, the Southeast Asia business unit of India's largest digital automotive solutions provider CarDekho Group, raised its first external funding round of USD 60 million. The round was led by prominent growth and private equity investors Navis Capital Partners (Navis) and Dragon Fund. Following this round, the cumulative fundraise now stands at USD 100+ million, with USD 30 million from the parent company.

The fresh capital will be used to enhance the group’s existing capabilities in Indonesia, used car & bike financing, used car refinancing, classifieds, and to support further expansion into the used auto financing sector in the Philippines.

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Driver: Rising Middle-Class Purchasing Power

An increase in the purchasing power of middle-income buyers is a fundamental factor in the used-car business, as more consumers can now afford four-wheelers, yet most still buy used cars rather than new ones due to affordability. As disposable incomes rise, buyers seek the best value by opting for more comfortable, well-maintained cars that are dependable and do not overstretch their budgets. This transformation has the potential to increase the number of first-time users and upgrade cycles, thereby accelerating transaction volume. The direct beneficiaries are companies that enjoy demand in the newer 03-year-old cars, as well as financing products and certified pre-owned products, which, by virtue of higher purchasing power, are in demand. The outcome is a healthier, more vibrant market, with affordability, aspiration, and access, to drive more rapid overall growth.

Segments that transform the industry

• 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.

Region that transforms the industry

• Vietnam is expected to grow at a significant CAGR during the forecast period (2025-2033). This is due to its rapid urbanization, increasing household incomes, and the younger generation's shift from two-wheelers to personal cars in Vietnam. The market is in its early stages of formalization, and as such, structured platforms that provide inspections, warranties, and transparent pricing are rapidly gaining demand. Moreover, the ease of finance has increased, attracting more first-time buyers to the formal housing market and speeding up transactions. With the introduction of newer vehicles into the used-car market and the increasing popularity of digital research, the used-car industry in Vietnam is expanding at a consistent and steady rate, outpacing other regional markets.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2025−2033.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis of By Vehicle Type, By Vendor Type, By Vehicle Age, By Fuel Type, By Sales Channel, By Country

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Related Report:-

India Pre-Owned Car Market: Current Analysis and Forecast (2024-2032)

Used Car Market: Current Analysis and Forecast (2021-2027)

MENA Used Car Market: Current Analysis and Forecast (2023-2030)

Automobile Accessories Market: Current Analysis and Forecast (2022-2030)

Saudi Arabia Automotive Spare Parts Market: Current Analysis and Forecast (2025-2033)

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