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South-east Asia’s fragmented $290b used car market ripe for shift to online platforms
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Workers putting the finishes touches on reconditioned cars before they find new homes.
ST PHOTO: SHANNON TEOH
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KUALA LUMPUR - Only a fraction of South-east Asia’s used car trade is conducted online, leaving huge growth potential for unicorn platforms eyeing a slice of the booming industry worth more than RM1 trillion (S$290 billion) a year.
Used car sales are expected to more than double those of new units by 2025, according to independent research commissioned by Malaysia-based online used car buying and selling platform Carsome.
