The Future is Hybrid for Indonesia’s Used Car Market

The highly fragmented used car market in Indonesia presents a compelling opportunity for growth and the emergence of new business models. The market, currently estimated at $56.34 billion, is projected to grow at a CAGR of 5.74% to $74.47 billion by 2028. The market is currently in a state of flux as new and established organised players battle it out to find the winning formula for dominance via partnerships, diversification into value-added services and acquisitions. The strategies currently in play point to a convergence of existing offline and online business models as the way forward.