Used Car Market in US 2023-2027

Description

List of Tables

The used car market in US is forecasted to grow by USD 35.96 bn during 2022-2027, accelerating at a CAGR of 4.14% during the forecast period. The report on the used car market in US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

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 the excellent value-for-money proposition of used cars, reducing ownership cycle of cars, and increasing technological innovations in passenger cars.

Technavio's used car market in US is segmented as below:

Market Scope
Base Year	2022
End Year	2027
Series Year	2023-2027
Growth Momentum	Accelerate
YOY 2023	4%
CAGR	4.14%
Incremental Value	$35.96bn

By Distribution Channel

Third-party channel sales
OEM channel sales

By Product

Mid size
Full size
Compact size

By Geographical Landscape

North America

This study identifies the increased penetration of websites dedicated to selling used cars as one of the prime reasons driving the used car market in US growth during the next few years. Also, vending machine platform for dispensing used cars and improved touchpoint management will lead to sizable demand in the market.

The report on the used car market in US covers the following areas:

Used car market sizing in US
Used car market forecast in US
Used car market industry analysis in US

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading used car market in US vendors that include 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., and Asbury Automotive Group Inc.. Also, the used car market in US analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

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 publisher 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 research - both primary and secondary. 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 the accurate market growth.

Product Code: IRTNTR41649

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Country Market Characteristics
Exhibit 04: Executive Summary - Chart on Market Segmentation by Distribution Channel
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
Exhibit 06: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Used car market in US 2017 - 2021
Exhibit 15: Historic Market Size - Data Table on used car market in US 2017 - 2021 ($ billion)
4.2 Distribution Channel Segment Analysis 2017 - 2021
Exhibit 16: Historic Market Size - Distribution Channel Segment 2017 - 2021 ($ billion)
4.3 Product Segment Analysis 2017 - 2021
Exhibit 17: Historic Market Size - Product Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 19: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 20: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 21: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 22: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 23: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

6.1 Market segments
Exhibit 25: Chart on Distribution Channel - Market share 2022-2027 (%)
Exhibit 26: Data Table on Distribution Channel - Market share 2022-2027 (%)
6.2 Comparison by Distribution Channel
Exhibit 27: Chart on Comparison by Distribution Channel
Exhibit 28: Data Table on Comparison by Distribution Channel
6.3 Third-party channel sales - Market size and forecast 2022-2027
Exhibit 29: Chart on Third-party channel sales - Market size and forecast 2022-2027 ($ billion)
Exhibit 30: Data Table on Third-party channel sales - Market size and forecast 2022-2027 ($ billion)
Exhibit 31: Chart on Third-party channel sales - Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Third-party channel sales - Year-over-year growth 2022-2027 (%)
6.4 OEM channel sales - Market size and forecast 2022-2027
Exhibit 33: Chart on OEM channel sales - Market size and forecast 2022-2027 ($ billion)
Exhibit 34: Data Table on OEM channel sales - Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Chart on OEM channel sales - Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on OEM channel sales - Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Distribution Channel
Exhibit 37: Market opportunity by Distribution Channel ($ billion)
Exhibit 38: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

7.1 Market segments
Exhibit 39: Chart on Product - Market share 2022-2027 (%)
Exhibit 40: Data Table on Product - Market share 2022-2027 (%)
7.2 Comparison by Product
Exhibit 41: Chart on Comparison by Product
Exhibit 42: Data Table on Comparison by Product
7.3 Mid size - Market size and forecast 2022-2027
Exhibit 43: Chart on Mid size - Market size and forecast 2022-2027 ($ billion)
Exhibit 44: Data Table on Mid size - Market size and forecast 2022-2027 ($ billion)
Exhibit 45: Chart on Mid size - Year-over-year growth 2022-2027 (%)
Exhibit 46: Data Table on Mid size - Year-over-year growth 2022-2027 (%)
7.4 Full size - Market size and forecast 2022-2027
Exhibit 47: Chart on Full size - Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Data Table on Full size - Market size and forecast 2022-2027 ($ billion)
Exhibit 49: Chart on Full size - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Full size - Year-over-year growth 2022-2027 (%)
7.5 Compact size - Market size and forecast 2022-2027
Exhibit 51: Chart on Compact size - Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Data Table on Compact size - Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Chart on Compact size - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Compact size - Year-over-year growth 2022-2027 (%)
7.6 Market opportunity by Product
Exhibit 55: Market opportunity by Product ($ billion)
Exhibit 56: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
Exhibit 58: Impact of drivers and challenges in 2022 and 2027
9.4 Market trends

10 Vendor Landscape

10.1 Overview
10.2 Vendor landscape
Exhibit 59: Overview on Criticality of inputs and Factors of differentiation
10.3 Landscape disruption
Exhibit 60: Overview on factors of disruption
10.4 Industry risks
Exhibit 61: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
Exhibit 62: Vendors covered
11.2 Market positioning of vendors
Exhibit 63: Matrix on vendor position and classification
11.3 Asbury Automotive Group Inc.
Exhibit 64: Asbury Automotive Group Inc. - Overview
Exhibit 65: Asbury Automotive Group Inc. - Business segments
Exhibit 66: Asbury Automotive Group Inc. - Key offerings
Exhibit 67: Asbury Automotive Group Inc. - Segment focus
11.4 AutoNation Inc.
Exhibit 68: AutoNation Inc. - Overview
Exhibit 69: AutoNation Inc. - Business segments
Exhibit 70: AutoNation Inc. - Key offerings
Exhibit 71: AutoNation Inc. - Segment focus
11.5 CarMax Inc.
Exhibit 72: CarMax Inc. - Overview
Exhibit 73: CarMax Inc. - Business segments
Exhibit 74: CarMax Inc. - Key news
Exhibit 75: CarMax Inc. - Key offerings
Exhibit 76: CarMax Inc. - Segment focus
11.6 Carvana Co.
Exhibit 77: Carvana Co. - Overview
Exhibit 78: Carvana Co. - Product / Service
Exhibit 79: Carvana Co. - Key offerings
11.7 General Motors Co.
Exhibit 80: General Motors Co. - Overview
Exhibit 81: General Motors Co. - Business segments
Exhibit 82: General Motors Co. - Key news
Exhibit 83: General Motors Co. - Key offerings
Exhibit 84: General Motors Co. - Segment focus
11.8 Group 1 Automotive Inc.
Exhibit 85: Group 1 Automotive Inc. - Overview
Exhibit 86: Group 1 Automotive Inc. - Business segments
Exhibit 87: Group 1 Automotive Inc. - Key offerings
Exhibit 88: Group 1 Automotive Inc. - Segment focus
11.9 Hendrick Automotive Group
Exhibit 89: Hendrick Automotive Group - Overview
Exhibit 90: Hendrick Automotive Group - Product / Service
Exhibit 91: Hendrick Automotive Group - Key offerings
11.10 Hertz Global Holdings Inc.
Exhibit 92: Hertz Global Holdings Inc. - Overview
Exhibit 93: Hertz Global Holdings Inc. - Business segments
Exhibit 94: Hertz Global Holdings Inc. - Key offerings
Exhibit 95: Hertz Global Holdings Inc. - Segment focus
11.11 Lithia Motors Inc.
Exhibit 96: Lithia Motors Inc. - Overview
Exhibit 97: Lithia Motors Inc. - Business segments
Exhibit 98: Lithia Motors Inc. - Key offerings
Exhibit 99: Lithia Motors Inc. - Segment focus
11.12 Penske Automotive Group Inc.
Exhibit 100: Penske Automotive Group Inc. - Overview
Exhibit 101: Penske Automotive Group Inc. - Business segments
Exhibit 102: Penske Automotive Group Inc. - Key news
Exhibit 103: Penske Automotive Group Inc. - Key offerings
Exhibit 104: Penske Automotive Group Inc. - Segment focus
11.13 Sonic Automotive Inc.
Exhibit 105: Sonic Automotive Inc. - Overview
Exhibit 106: Sonic Automotive Inc. - Business segments
Exhibit 107: Sonic Automotive Inc. - Key offerings
Exhibit 108: Sonic Automotive Inc. - Segment focus
11.14 Vroom Inc.
Exhibit 109: Vroom Inc. - Overview
Exhibit 110: Vroom Inc. - Business segments
Exhibit 111: Vroom Inc. - Key offerings
Exhibit 112: Vroom Inc. - Segment focus

12 Appendix

12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 113: Inclusions checklist
Exhibit 114: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 115: Currency conversion rates for US$
12.4 Research methodology
Exhibit 116: Research methodology
Exhibit 117: Validation techniques employed for market sizing
Exhibit 118: Information sources
12.5 List of abbreviations
Exhibit 119: List of abbreviations