The COVID-19 pandemic has made commuters wary of using public transit systems, yet the sale of new cars in Southeast Asia has only moved downhill this year.
New vehicle sales plunged across SE Asia in January-June 2020 — the biggest drop was seen in the Philippines (52 per cent) — as disposable incomes in the region fell.
Consumers are now shifting to second-hand cars, car rentals, and car-sharing platforms while looking to finance the purchases through alternative lending sources. This has given a fillip to platforms such as Carsome, Carro, and Carousell, to name a few.
Investors, too, are taking note of the new direction of mobility — there were 12 deals in the car platform space in SE Asia in 2020, up from seven last year.
Our latest report, SE Asia’s car platforms in a post-pandemic world, looks at the sector holistically, covering:
- Southeast Asia’s major car platforms and their evolution
- Deals in the car platform space in 2019-20.
- Why car platform deals are gaining traction
- Impact of Covid-19 on their transactions and user growth
- Opportunities and risks for existing car platforms.