India’s car market is undergoing a digital revolution, and Southeast Asia (SEA) would do well to take notice. In 2024, for the first time, used car sales in India outpaced new car sales—5.41 million used cars compared to 4.16 million new vehicles. This milestone is not just a statistical anomaly—it signals a transformative shift powered by technology, consumer behaviour, and digital trust.
The catalyst behind this surge is the rapid adoption of online platforms, which has transformed a traditionally fragmented and offline sector into a dynamic digital ecosystem.
These platforms offer consumers more than just listings. They provide transparent pricing, verified vehicle history reports, doorstep delivery, and seamless financing—all within a few taps on a smartphone. The shift to online car sales feels almost inevitable in a country where internet and smartphone penetration continue to grow.
But this is not just about convenience. The Indian market has shown that trust is the real currency in digital car sales. These platforms are tapping into the rising demand for affordable and reliable transportation by making the process transparent and less intimidating for first-time buyers. Amid economic uncertainty, consumers increasingly turn to used vehicles, drawn by their lower price points and the growing confidence in digital verification systems.
SEA is experiencing a similar digital inflexion point, and Indian companies are already taking the lead in exporting this successful model. One standout is CarDekho SEA, the regional arm of India’s CarDekho Group.
Headquartered in Singapore, CarDekho SEA has rapidly established itself in six countries: Indonesia, the Philippines, Singapore, Malaysia, Thailand, and Vietnam.
Since its founding in 2020, CarDekho SEA has recorded over 200,000 disbursements and surpassed US$1 billion in gross merchandise value (GMV). Backed by Navis Capital Partners and Dragon Fund, the company recently raised US$60 million in external funding, pushing total capital past the US$100 million mark.
CarDekho SEA’s asset-light marketplace model and robust tech-driven loan processes are tailored to the complexities of Southeast Asian markets. With over 50 financing partners and 20,000 dealers and agents, the company has grown its GMV 50-fold in just three years. Indonesia alone holds a three per cent market share in the used car financing segment.
The platform’s success hinges on localisation and innovation. CarDekho SEA’s brands—OTO in Indonesia, and Carmudi and Zigwheels in the Philippines—offer financing, refinancing, and dealer inventory funding. The company plans to extend this ecosystem further with services like auto insurance, extended warranties, and EV financing.
With AI and machine learning at its core, CarDekho SEA’s systems help mitigate fraud and credit risk, offering data-driven insights to financial partners.
Moving forward, one of the company’s major priorities is strengthening its B2B2C model—providing inventory funding to dealer partners and expanding distribution networks. These efforts aim to build the same digital trust and customer convenience that are commonplace in India’s car sales market.
So, what can Southeast Asia learn from India’s success story?
Digital trust is non-negotiable
Transparent pricing and verified listings are essential to winning over customers.
Fintech integration is critical
Combining auto listings with financing options turns browsers into buyers.
Partnerships drive scale
Collaborations with financiers and dealers create an ecosystem that benefits all stakeholders.
Technology reduces friction
AI and automation help streamline loans and reduce risk.
SEA’s demographics and growing digital adoption mirror India’s trajectory. With the right platforms and policies, the region could witness a similar leap in online car sales, led by players like CarDekho SEA.
Want to dive deeper into how India’s digital transformation is shaping the future of car sales in Southeast Asia?
Join us for the fireside chat: “Automotive Innovation Across Borders: What Southeast Asia Can Learn from India’s Digital Shift”
Tuesday, 10 June
11:30 AM – 12:00 PM
Future Stage, Echelon Singapore 2025, Suntec Singapore
Speakers:
Umang Kumar, Co-Founder & CEO, CarDekho SEA
Moderator: Anisa Menur Maulani, Editor, e27
Don’t miss this opportunity to gain exclusive insights from a market leader transforming how SEA buys and sells cars!
The post What Southeast Asia can learn from India’s digital shift in car sales appeared first on e27.