Used Cars Flood Enthusiasts, This is the Model Most Glanced at

A number of used car models became the target after the supply of new vehicles faltered due to the scarcity of chips.

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The used car has increased due to the stagnant supply of new vehicles. At the same time, the price has increased.

The owner of Jordy Mobil in Mega Glogok Kemayoran Andi said that due to the high demand, he found it difficult to find a used car.

"Now many are buying it. From previous years, the increase could be two to three times," he said when contacted, Sunday (29/5/2022). 

No wonder now the price is also rising. Andi explained that the capital to buy a used car this year is much higher than last year.

"Before we sold Rp150 million, now we can't buy it at that price. The increase is 5 percent to 10 percent," he explained.

Andi observes that the increase in used cars is not only due to the scarcity of rare microchips or semiconductors, but also the high price of new vehicles. He gave the example of the Fortuner's price, which used to be Rp. 400 million, now it is more than Rp. 600 million.

"Automatically used cars also go up. For this year, the most sought-after cars are MPV [multi purpose vehicle/family car] and SUV [sport utility vehicle],” he explained.

OLX Autos also noted the high demand for used cars. People who buy vehicles through their services during Ramadan this year grew by 30 percent compared to the same period last year. This achievement is almost close to the era before the pandemic.

In 2019, the demand for used cars grew 35 percent. A year later when Covid-19 hit Indonesia, purchases fell between 4 percent and 10 percent.

The demand for used cars at OLX Autos during Ramadan started to grow after that. In 2021 it's up 10 percent and this year it's 30 percent.

OLX Autos Indonesia Marketing Director Sandy Maulana said that the scarcity of microchips, which made buyers have to wait for new cars to arrive, had an impact on the demand for used vehicles.

“Many consumers choose to buy used cars because they may be available. Then, it can be used immediately and the price is quite affordable compared to a new car," he said.

As for the price, Sandy cannot conclude that currently used cars are increasing. This can depend on the condition of the vehicle.

“Maybe some are expensive, some are low. It depends on the condition of the car itself," he explained.

Based on data from OLX Autos Indonesia received by The Newbie News, the trend in used car prices in the Ramadan 2022 period tends to be stable compared to the previous year. This is supported by more stable demand and supply of used cars this year.

The company's internal data shows that this year the demand for used cars is relatively the same as the supply. The relatively balanced condition also affects the price of used cars which tend to be stable.

This is different from the conditions ahead of last year's Eid. The situation of higher demand than supply during Ramadan has an impact on price adjustments.

In Ramadan last year, OLX Autos recorded a price increase of 2 percent to 3 percent for certain types, such as the Toyota Avanza and Daihatsu Xenia. 

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