Subject: MRR
Used Cars Pervasiveness with shift towards personal vehicles amid Pandemic generated greater number of sales in Egypt: Ken Research
GURUGRAM, India, May 16, 2022 /PRNewswire/ --
Unorganised dealers dominate the Sales Volume in the Market: With majority of independent dealer in the country, the used car market is dominated by unorganized and Semi-organized dealers. Less-aged cars and popular brands with good resale value are highly valued by participants. Dealers are also increasing their online presence by listing their inventory on their own website/Facebook account or other social platforms resulting in market growth. Consequently, buyers have limited range of vehicle options to choose from.
Digital Transformation: Online players are emphasizing on integrating new-age technologies and building a robust sales network to give complete view of the car to customers. Considering the digital transformation across industries, new-age Auto Tech start-ups are emerging to disrupt the pre-owned car market. Thus, playing a crucial role in driving the sale of pre-owned cars online and bridging the gap between physical and digital sales.
Increase in Used Car Sales Demand in Covid-19 Pandemic: Rise in Used Car demand among consumers due to low prices amid pandemic restrictions with moderate operations across the country. Though mobility restrictions imposed across the country, the demand for used cars is due to consumer's finding the lower prices of used cars more attractive with consumer preference e to avoid public transport because of the pandemic. Used Car Market Sales in Egypt at rebounding stage with a greater number of consumers shifting to personal vehicles.
Analysts at Ken Research in their latest publication "Egypt Used Car Market Outlook to 2026 ? Driven by Shift In Consumer Demand along with Growth of Online Used Car Platforms and Availability of Financing Options" by Ken Research observed that Egypt is an emergent used car market in MENA at rebounding stage from the economic crisis after pandemic. Accelerated millennials growth and increase in used car sales with seamless buyer experience is driving the used car industry growth. Collaboration among different partners and streams, tech-enabled services, are expected to drive the industry in the future. The Egypt Used Car Market is expected to grow at a double digit CAGR.
Market Structure by Market Size:-
Organized Sector
- OEM Certified Dealers
- Local Multi-Brand Dealership
Unorganized Sector
- C2C
- Independent Brokers
- Local Dealers
Key Segments Covered of Egypt Used Car Market:-
By Type of Car
- Sedan
- Suv
- Hatchback/Economy
By Manufacturer
- Hyundai
- Kia
- Nissan
- Toyota
- Chevrolet
- Fiat
- Mitsubishi
- Others
By Kms Driven
- 5,000-35,000
- 35,000-80,000
- 80,000-120,000
- Above 120,000
By Age of Vehicle
- 0-2 years
- 2-6 years
- 6-8 years
- 8 years or more
By City
- Cairo & Giza
- Mansoura, Delta. Suez Canal
- Alexandria
- Others
By Source of Lead Generation
- Online
- Offline
Key Target Audience:-
- Used Car Companies
- OEMs
- Multi-Brands
- Online Used Car Portals
- Used Car Financing Companies
- Government Bodies
- Investors & Venture Capital Firms
- Used Car Dealerships
- Used Car Industry
- Used Car Manufacturing Companies
- Used Car Distributors
- Used Car Auction Houses
- Used Car Associations
Time Period Captured in the Report:-
- Historical Year: 2016-2021
- Forecast Period: 2021?2026F
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Companies Covered:-
Major OEMs
- Automark Toyota
- BMW Pre-Owned & Mini-Cooper Approved
- Mercedes Benz Certified
- Volvo Selekt
- Porshe Approved
- Land Rover Approved
- Mesarati Approved
Major Multi-Brands
- Ellaithy Auto Groups
- Fabrika
- Elmasria Auto
- Abaza Auto Trade
Major Online Auto-Classifieds
- Hatla2ee
- Yallamotor
- Olx
- Opensooq
- CarSemsar
- Contactcars
Key Topics Covered in the Report:-
- Egypt Automotive Market Overview
- Egypt Used Car Market Overview
- Market Ecosystem
- Value chain Analysis
- Customer Buying Journey in Egypt
- Decision Making Parameters for Customers
- Offline and Online Business Models
- Detailed Analysis on Egypt Used Car Market (Market Size, 2021; Market Structure; Market Segmentations; Competition; Future Market Size, 2026; Future Trends and the Way Forward
- Snapshot on Online Used Car Platforms in Egypt
- Snapshot of Used Car Auction House in Egypt
- Snapshot of Finance Market in Egypt
- Business Opportunity (Customer Profile Analysis)
- Recommendations (Sales and Marketing Strategies, Positioning Strategies, Business Framework)
- Market Research Report Of Egypt Used Car
- Industry Research Report Of Egypt Used Card
- Covid-19 Impact Egypt Used Car Market
- Used Car Market Egypt
- Number of Used Car Companies in Egypt
- Number of Online Used Car Companies in Egypt
- Used Car Tents Egypt
- Snapshot Egypt Used Car
- Financing of Used Cars Egypt
- Interest Rate on Used Cars Egypt
- Used Car to New Car Ratio Egypt
- Partnership Used Car Egypt
- Used Cars Egypt
- Bestselling Car Models in Egypt
- Top Car Dealers in Egypt
- Top OEMs Dealers in Egypt
- Top Multi-Brands Dealers
- Top Online Auto-Classifieds in Egypt
- Toyota Best Selling Models Egypt
- Toyota Company Timeline Egypt
- Top Car Manufacturers in Egypt
- Top Used Car Manufacturers in Egypt
- Total Volume Sales of Used Car in Egypt
- Import of Used Car Egypt
- Import Procedure of Used Car in Egypt
- Used Car Sales Egypt
- Used Car Value Chain Egypt
- Region Wise Used Cars Sales Egypt
- Used Car Current Status Egypt
- Used Car Present Status Egypt
- Future plan Used Cars in Egypt
- Automark Toyota Market
- BMW Pre-Owned and Mini-Cooper Approved Market
- Mercedes Benz Certified Market
- Volvo Selekt Market
- Porshe Approved Market
- Land Rover Approved Market
- Mesarati Approved Market
- Used Car Manufacturing Companies Market
- Used Car Distributors Market
- Used Car Auction Houses Market
- Used Car Market Major Players Egypt
- Used Car Market Future Outlook Egypt
- Covid-19 Impact Used Car Market Egypt
- Number of Used Car Companies in Egypt
- Number of Online Used Car Companies in Egypt
- Used Car Domestic Players Egypt
- Used Car Foreign Players Egypt
- Ellaithy Auto Groups Market
- Fabrika Market
- Elmasria Auto Market
- Abaza Auto Trade Market
For More Information on the research report, refer to below link:-
Egypt Used Car Market Outlook to 2026
Related Reports :-
Philippines Used Car market is in its growth phase, having registered a five-year CAGR of xx% (2016-2021) as the total value of sales increased from PHP xx Billion in 2016 to PHP xx Billion in 2021. The market size by volume increased from xx cars in 2016 to xx cars in 2021 while registering a five-year CAGR of xx% in the period. There are a number of growth drivers which has resulted in expansion of the market; these include a surge in the demand of private cars, increasing per capita income, convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space. Customers of the used cars can be divided according to their needs generally belonging to the working age group.
Vietnam's used car market experienced a slow down between 2015 and 2021 on the basis of gross transaction value. The decline in GTV as well as sales volume of used car industry is attributed to various government initiatives to support the growth of domestic automotive industry, and policies implemented such as reduction in import tax to 0% for cars imported from ASEAN region. Historically, motor bikes have always remained the top choice among the consumers due to high concentration of population belonging to rural regions having low purchasing power. However, due to rapid urbanization and fast growing middle class, the demand for new passenger cars has been growing significantly in recent times which in turn is contributing to the growth of automotive industry. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer's preference towards availing private transportation medium compared to public transportation. Leveraging the growing internet penetration rate, various online classified players launched their operation in Vietnam post 2013, such as Oto and Carmudi. The increasing preference of consumers towards availing digital medium for their purchases has enhanced the sales prospect via C2C channel through classified platforms.
South Korea Used Car market increased at a CAGR of 0.8% (by sales volume in units) during 2015-2021P. The market has reached its maturity phase. A combination of restrictions on public transport and a movement towards private travel has accelerated the sale of used cars. Moreover, the availability of various financing facilities offered through banks and NBFIs, high internet penetration and increased government spending have been instrumental factors in facilitating the growth of the South Korean used car market.
Singapore Used Car market is in its growth phase, increasing at a CAGR of -3.1% (by value in SGD Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in Singapore.
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