Heaptalk, Jakarta — Carro, an online platform for buying and selling used cars, revealed that 64% of all their used car sales in the first half of 2024 involved millennial customers. This percentage is expected to continue growing over time.
According to a report by Mordor Intelligence, Indonesia’s used car market has experienced rapid growth in recent years, driven by economic development and the ease of financial schemes offered by companies in the financial sector. In 2024, the used car market in Indonesia is projected to reach US$56.34 billion and continue to increase to US$74.48 billion by 2028.
“From Carro’s sales data, we see many positive factors that continue to drive the used car market, such as increased income, the growing number of families, and improved credit scores,” said Bryan Tan, Country Head of Carro Indonesia.
MPV the most popular car choice
Furthermore, Tan explained that many Indonesians are looking for quality vehicles at more affordable prices. The increasing interest in larger vehicles, such as MPVs and SUVs, is also a driving factor in the resale car market, as many millennials seek spacious vehicles within a limited budget.
Carro’s internal data revealed that millennials’ most popular car choices in the first half of 2024 were multipurpose vehicles (MPVs) with a sales share of 41%, city cars with 35%, and sport utility vehicles (SUVs) with 22%. Tan stated, “The popularity of these types of cars reflects millennials’ preferences for practicality, style, and functionality. As long as the car purchased is free from flood and accident history and is of good quality, a used car can provide the comfort of a new car.”
To help millennials and the broader Indonesian community own their desired used cars, Carro introduced Carro Certified, a quality assurance certification not found at other dealers. This certification includes a 160-point inspection, a 5-day money-back guarantee, a 12-month engine and transmission warranty, a guarantee against mileage manipulation, and assurances that the car is free from floods, accidents, and fires.
