Gurugram, India, March 15, 2023 (GLOBE NEWSWIRE) --
- Consumer shift from public transport to personal vehicle amid pandemic with rising demand of used cars.
- Entry of major emergent players with easier and user-friendly buyer experience than ever before.
- Korean Manufacturer Brands (Hyundai, Kia etc) leading the used car sales volume with attractive pricing, high resale value and brand value, preferred more by consumers.
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
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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
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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
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)
For more insights on the market intelligence, refer to below link:-
Egypt Used Car Market
Related Reports By Ken Research:-
Philippines Used Car Market Outlook To 2026 (Third Edition): Driven By The Pandemic Incited New Opportunities For Used Car Dealers And Increased Penetration In The Online Space For Used Car Transactions
The used car industry in Philippines is expected to grow in the future at a single digit CAGR over the forecast period (2021P to 2026F). The market structure is expected to be consolidated in the future as the market share of players selling vehicles via organized channel is expected to surge. The average ticket size of a used vehicle is expected to increase as the average replacement period is reducing over time. The customers will tend to switch to used cars and new cars at a rate faster than before, depicting rapid change in consumer preferences. The multi-brand dealers and banks are strategically partnering with online classified pages and online auto portals to make the process accessible and transparent for the buyers. . The customers in the future will make well informed decision as lot of information will made available regarding car pricing at their disposal in the future across various platforms. Certain foreign established C2B players are too considering Philippines Used Car market a growing and profitable venture.
The market size on the basis of gross transaction value is expected to grow at a five-year CAGR of ~10.6% by 2026. The market size on the basis of sales volume is also expected to grow at a similar rate. It is anticipated that used car sales volume will be fueled by increasing government initiatives such as EVFTA Agreement and Ban on Motorbikes by 2030, growing middle-class population, shift in consumer preference towards availing private transportation medium post COVID-19, increasing disposable income, increasing car replacement rate and growing customer confidence.
The used car industry in South Korea is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 1.0% (by sales volume in units) from 2021P to 2026F. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering South Korea Used Car market a growing and profitable venture. Moreover, people in South Korea are realizing the advantages of buying a pre-owned cars through authorized outlets as there has been a shift in the general consumer preferences.
The used car industry in Singapore is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 11.1% (by value in SGD Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering Singapore Used Car market a growing and profitable venture. Moreover, people in Singapore are realizing the advantages of buying a pre-owned car as there has been a shift in the general consumer preferences.
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