Malaysia Automotive Aftermarket Service Market Outlook to 2025: Surging Used Car Sales contributing to the Growth of Automotive Aftermarket Service Industry in Malaysia – Ken Research
Gurugram, India, July 29, 2021 (GLOBE NEWSWIRE) —
- Automotive slowdown & the COVID-19 pandemic brought a sustained downward trend in new passenger car sales in 2021 in Malaysia.
- The OEM/Authorized car service market is anticipated to grow with a CAGR of 11.7% during the forecast period 2020-2025.
Surging Vehicle Parc in Malaysia: Malaysian automotive industry in witnessing a growth in the number of vehicle parc, which is leading to higher demand for the multi brands and OEM car service companies in Malaysia. ~65% of the vehicle parc in Malaysia in 2020 comprised of post warranty cars that generally visit multi brand car service centers. Whereas, the pre warranty cars in the country prefer visiting the OEM car service centers. Multi brand service centers cost ~40% less as compared to the authorized car service center which is the major reason for consumer to shift to the multi brand service center during