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ESG

Used Car Industry Set To Be Hit Hard By EV and ESG Push!

Industry experts predict challenges for the internal combustion engine (ICE) driven second hand car market due to the growing focus on environmental, social, and governance (ESG) standards. This could lead to higher costs and taxes for ICE vehicles, raising doubts about the sustainability of the second hand car industry.

The delay in adopting ESG principles is a concern, notably seen in the environmentally harmful reputation of the used car market. This is due to reliance on old, polluting vehicles using fossil fuels.

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BMW Group Malaysia and Pentas Flora Sign MoU To Recycle Used Oil From Service Centres

In the automotive aftersales industry, waste products are unavoidable and over the years, the more responsible companies have ensured that the waste products are properly disposed and do not damage the environment. Local authorities also have strict regulations to ensure that waste products like used oil do not get into the public drainage system.

One of the companies which has stepped up its efforts in this area of Environmental, Social and Governance (ESG) is BMW Group Malaysia which recently commemorated their partnership with Pentas Flora in a Memorandum of Understanding (MoU).

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