Used car market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. One of the key factors that are fuelling the market is the rising online sales in the market. Online sites and applications in vehicle markets have been playing a crucial role in bringing access to customers with a single touch. A combination of such progress created a significant increase in the demand for used cars. These platforms have connected customers to the owners of the cars where consumers can find the car they want at a wide range of prices which makes it much more affordable than a new car. For instance, in 2019, Ebay Inc. introduced a new application named eBay Motors for enhancing the used car purchase and sale process online.
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The global used car market is segmented based on the vehicle type, vendor, and fuel type. Based on the vehicle type, the market is segmented into hatchbacks, sedans, and sports utility vehicles. Based on the vendor, the market is sub-segmented into the organized, and unorganized. Based on the fuel type, the market is sub-segmented into petrol and diesel. The above-mentioned segments can be customized as per the requirements. Based on vendor, the organized vendor segment is anticipated to grow significantly in the market owing to the growing number of franchised dealers while, based on fuel type, the petrol segment is anticipated to grow significantly during the forecast period owing to the decreasing usage of diesel vehicles with the rising governmental norms.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Used Car Market by Vehicle Type
- Hatchbacks
- Sedan
- Sports Utility Vehicle (SUV)
Global Used Car Market by Vendor
- Organized
- Unorganized
Global Used Car Market by Fuel Type
- Petrol
- Diesel
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Arnold Clark Automobiles Ltd.
- Asbury Automotive Group
- AutoNation
- CarMax
- Cars24 Services Pvt Ltd.
- Cox Automotive
- Hyundai H Promise
- Mahindra First Choice Wheels Ltd.
- OLX India Pvt Ltd.
- Trusty Cars Pte. Ltd. (Carro)
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global used car market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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