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Thai used-car market heats up as foreign startups jump in

Online dealers hope to attract more consumers amid rising demand

According to Deloitte, 21% of Thai consumers would like at least part of their next vehicle purchase to be done online. (Screenshot from  CAR24, Carro, and Carsome webstite)

BANGKOK/SINGAPORE -- Used-car sales in Thailand are set to grow again this year after a stellar 2021 due to a shortage of new cars, with online dealers such as India's Cars24 and Malaysia's Carsome entering the market to capitalize on fresh demand.

On March 3, Carsome said it had partnered with PTT Oil and Retail Business -- a subsidiary of Thailand's energy conglomerate PTT -- in a move that analysts said would help the Malaysian company expand its used-car network and boost online vehicle purchases.

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