PETALING JAYA: As the global chip shortage delays the delivery of new cars, many Malaysians have turned to purchasing used or reconditioned vehicles.
Automotive technician Chong Yao Bing, 23, said he decided to buy a used Mazda 3 earlier this year.
“Instead of waiting for a new car, I’d rather buy a second-hand car as it is quicker.
“The performance and quality is comparable to a new car and I’m getting it at a much lower price,” said Chong, who lives in Subang Jaya.
He said the market value of used cars and recon cars had been rising due to the chip shortage for new cars.
Company director Ang Chun Leng, 24, bought a Mercedes C200 AMG coupe from a used car dealer in late 2020.
“I bought my second-hand car at a fair price and was satisfied with the condition after viewing it,” he added.
He termed the purchase a “win-win” situation for the seller and buyer during the Covid-19 pandemic.
“The seller earns some extra cash and buyers can get a car of their choice at a good price,” he added.
Car enthusiast Jason Ng, who bought a reconditioned Mazda 3 in 2019, said the current market value of his car model was marginally higher than it was two years ago.
“For the past six months, the market value of used cars has been going up due to high demand caused by the pandemic,” he added.
Ng, who closely monitors the market from various sites and sources, added that higher demand was also spurred by low stock of used cars.
“In-demand used cars that have seen an increase in market value include the Volkswagen Golf GTI, Honda FK Type R and the Mazda 3,” he added.
Salesperson Chong Jia Herng confirmed that sales were affected.
“Financial woes due to the pandemic have also led many to sell their cars for cash.
“Some traded in their vehicles for more economically priced ones, others have just been waiting for too long.”
Chong said he was unfazed about people turning to used or reconditioned cars, adding that many factors were beyond his control.
“As showrooms were not allowed to open, people couldn’t test drive to verify the car’s performance, which stalled their purchase decisions,” said the 24-year-old.
A sales executive who only wished to be known as Seong said sales of new cars had seen a dip as used cars are increasingly sought after.
“People are more likely to sell their cars due to the pandemic, which is also why we have seen an increase in our auto-selection sales,” he said, referring to sales of pre-owned certified Mercedes-Benz vehicles.
Seong said more were likely to buy used cars as many offered similar specifications to a new car, but at a cheaper price.