Global Used Cars Market Report By Vehicle Type (Hatchback, Sedan, SUV), By Propulsion (ICE, Electric and Hybrid), By Distribution Channel (Franchised Dealer, Independent Dealer, Peer-to-peer) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2022-2030
The global demand for Used Cars Market is presumed to reach the market size of nearly USD 5.55 TN by 2030 from USD 3.02 TN in 2022 with a CAGR of 7.9% under the study period 2023 - 2030.
Used cars, also known as pre-owned or second-hand cars, are vehicles that have had one or more previous owners. These vehicles are sold in the automotive market after being owned and used by individuals, companies, or rental agencies. These are available in various conditions, ranging from nearly new to older models, and they can be sold through dealerships, private sellers, or used car lots.
The used cars market thrives on a combination of factors catering to diverse consumer preferences and financial considerations. Affordability is a key driver, with used cars offering a cost-effective alternative to new vehicles. The mitigation of depreciation is another significant factor, as consumers seek to avoid the steep initial loss in value associated with new cars. The wider selection of makes, models and model years allows buyers to find vehicles that align with their specific needs and budget constraints. The transparency provided by vehicle history reports and the assurance of Certified Pre-Owned (CPO) programs contribute to consumer confidence in the used car market. Environmental considerations, the availability of features, and the convenience of private sales and dealership options further fuel the market's appeal. Economic factors, including interest rates and consumer confidence, also play a role in influencing the demand for used cars.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of used cars. The growth and trends of used cars industry provide a holistic approach to this study.
This section of the used cars market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Vehicle Type
Electric And Hybrid
By Distribution Channel
This section covers the regional outlook, which accentuates current and future demand for the Used Cars market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Used Cars Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Used Cars market include CarMax Inc., cars24, TrueCar, Inc., Lithia Motors, Inc., Group1 Automotive Inc., AutoNation, Inc., Mahindra First Choice, Hendrick Automotive Group, Carvana, Asbury Automotive Group, Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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1 . PREFACE
1.1. Report Description
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . USED CARS – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Vehicle Type
3.7.2 Market Attractiveness Analysis By Propulsion
3.7.3 Market Attractiveness Analysis By Distribution Channel
3.7.4 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . GLOBAL USED CARS MARKET ANALYSIS BY VEHICLE TYPE
5.1 Overview by Vehicle Type
5.2 Historical and Forecast Data
5.3 Analysis by Vehicle Type
5.4 Hatchback Historic and Forecast Sales by Regions
5.5 Sedan Historic and Forecast Sales by Regions
5.6 SUV Historic and Forecast Sales by Regions
6 . GLOBAL USED CARS MARKET ANALYSIS BY PROPULSION
6.1 Overview by Propulsion
6.2 Historical and Forecast Data
6.3 Analysis by Propulsion
6.4 ICE Historic and Forecast Sales by Regions
6.5 Electric and Hybrid Historic and Forecast Sales by Regions
7 . GLOBAL USED CARS MARKET ANALYSIS BY DISTRIBUTION CHANNEL
7.1 Overview by Distribution Channe ...
Frequently Asked Questions (FAQs) about this Report
The Global Used Cars Market size was valued at USD 3.02 TU in 2022.
The Worldwide Used Cars Market growth is estimated to grow by around 7.9% from 2023 to 2030.
Asia-Pacific occupies the highest market share in the Global Used Cars Market.
The Global Used Cars Market is segmented by Vehicle Type (Hatchback, Sedan, SUV), by Propulsion (ICE, Electric and Hybrid), by Distribution Channel (Franchised Dealer, Independent Dealer, Peer-to-peer).
The leading players in the Global Used Cars Market are CarMax Inc., cars24, TrueCar Inc., Lithia Motors Inc., Group1 Automotive Inc., AutoNation Inc., Mahindra First Choice, Hendrick Automotive Group, Carvana, Asbury Automotive Group Inc.