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The used car market in the US is forecasted to grow by $ 40.2 billion during 2024-2029, accelerating at a CAGR of 4.3% % during the forecast period. The report on the used car market in the US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.Speak directly to the analyst to clarify any post sales queries you may have.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by excellent value for money proposition of used cars, reducing ownership cycle of cars, and increasing technological innovations in passenger cars.
The used car market in the US is segmented as below:
By Distribution Channel
- 3P channel sales
- OEM channel sales
By Product
- Mid size
- Full size
- Compact size
By Geographical Landscape
- North America
The report on the used car market in the US covers the following areas:
- Used Car Market in the US sizing
- Used Car Market in the US forecast
- Used Car Market in the US industry analysis
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
2 Market Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Distribution Channel
9 Market Segmentation by Product
10 Market Segmentation by Vendor Type
11 Market Segmentation by Fuel Type
12 Customer Landscape
13 Drivers, Challenges, and Opportunity/Restraints
14 Competitive Landscape
15 Competitive Analysis
16 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global used car market in us: Asbury Automotive Group Inc., AutoNation Inc., CarMax Inc., Carvana Co., General Motors Co., Group 1 Automotive Inc., Hendrick Automotive Group, Hertz Global Holdings Inc., Lithia Motors Inc., Penske Automotive Group Inc., Sonic Automotive Inc., and Vroom Inc..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is increased penetration of websites dedicated to selling used cars."
According to the report, one of the major drivers for this market is the excellent value for money proposition of used cars.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Asbury Automotive Group Inc.
- AutoNation Inc.
- CarMax Inc.
- Carvana Co.
- General Motors Co.
- Group 1 Automotive Inc.
- Hendrick Automotive Group
- Hertz Global Holdings Inc.
- Lithia Motors Inc.
- Penske Automotive Group Inc.
- Sonic Automotive Inc.
- Vroom Inc.
