Market Research Report
Used Cars Market by Vehicle Type (Hatchback, Sedan, and SUV), Fuel Type (Petrol, Diesel, and Others), and Distribution Channel (Franchised Dealer, Independent Dealer, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
|Used Cars Market by Vehicle Type (Hatchback, Sedan, and SUV), Fuel Type (Petrol, Diesel, and Others), and Distribution Channel (Franchised Dealer, Independent Dealer, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027|
Published: April 1, 2021
Allied Market Research
Content info: 266 Pages
Delivery time: 2-3 business days
Used car is a vehicle that has been used previously or owned by one or more owners. It is also known as the pre-owned vehicle or secondhand car. Used cars are sold through traditional walk-in used cars stores, online platforms, and independent vehicle dealers. Furthermore, franchises, including social media and online used-car companies, help people buy and sell used cars..
At present, Asia-Pacific dominates the market, followed by LAMEA, North America, and Europe. China dominated the global market in 2019, whereas South Korea is expected to grow at a significant rate in Asia-Pacific during the forecast period.
The global used cars market is driven high new vehicle prices and affordability concerns, and surge in demand for off-lease cars & subscription service by the franchise, leasing offices, and car dealers. However, unorganized used cars sales and lack of regularization hamper the growth of the global market.
Moreover, advent of e-commerce & online technologies, steady increase in organized/semi organized sales in emerging countries, and growth in electric vehicle business across the globe and demand for car sharing services are expected to offer lucrative opportunities for the growth of the global used cars market.
The used cars market is segmented the basis of on vehicle type, fuel type, distribution channel, and region. On the basis of vehicle type, itis divided into hatchback, sedan, and SUV. On the basis of fuel type, it is classified into petrol, diesel, and others. On the basis of distribution channel, it is fragmented into franchised dealer, independent dealer, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the used cars market include Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited, Group1 Automotive Inc., Hendrick automotive group, Lithia Motors, Inc., Mahindra First Choice Wheels Ltd. and TrueCar, Inc.
By Vehicle Type
By Fuel Type
By Distribution Channel