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The used car market is forecasted to grow by USD 857.1 billion during 2023-2028, accelerating at a CAGR of 7.56% during the forecast period. The report on the used car market 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 increasing number of new models of cars launched due to high competition, declining ownership cycle of vehicles among urban consumers in emerging countries, and excellent value for money proposition of used cars.
The used car market is segmented as below:
By Vehicle Type
- Compact car
- SUV
- Mid size
By Channel
- Organized
- Unorganized
By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
The report on the used car market covers the following areas:
- Used Car Market sizing
- Used Car Market forecast
- Used Car Market 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 Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global used car market: Alibaba Group Holding Ltd., Asbury Automotive Group Inc., AutoNation Inc., Autotrader.com Inc., Berman Auto Group, CarGurus Inc., CarMax Inc., Cars24 Services Pvt. Ltd., DriveTime Automotive Group Inc., eBay Inc., Group 1 Automotive Inc., Hendrick Automotive Group, Hertz Global Holdings Inc., Lithia Motors Inc., Mahindra and Mahindra Ltd., Penske Corp., Scout24 AG, Sonic Automotive Inc., Toyota Motor Corp., and TrueCar Inc..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is growing demand for car subscription services."
According to the report, one of the major drivers for this market is the increasing number of new models of cars launched due to high competition.
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:
- Alibaba Group Holding Ltd.
- Asbury Automotive Group Inc.
- AutoNation Inc.
- Autotrader.com Inc.
- Berman Auto Group
- CarGurus Inc.
- CarMax Inc.
- Cars24 Services Pvt. Ltd.
- DriveTime Automotive Group Inc.
- eBay Inc.
- Group 1 Automotive Inc.
- Hendrick Automotive Group
- Hertz Global Holdings Inc.
- Lithia Motors Inc.
- Mahindra and Mahindra Ltd.
- Penske Corp.
- Scout24 AG
- Sonic Automotive Inc.
- Toyota Motor Corp.
- TrueCar Inc.
