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PUBLISHER: SkyQuest | PRODUCT CODE: 1270684

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PUBLISHER: SkyQuest | PRODUCT CODE: 1270684

Global Used Cars Market Size, Share, Growth Analysis, By Vehicle Type, By Distribution Channel, By Vendor Type, By Fuel Type, By Size, By Sales Channel - Industry Forecast 2022-2028

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Global Used Cars Market size was valued at USD 931.9 billion in 2021 and is poised to grow from USD 996.906 billion in 2022 to USD 1700.1 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

The global used cars market is expected to grow in the coming years due to various factors such as rising demand for affordable vehicles, increase in disposable income, and availability of easy financing options. With the advent of digital platforms, the used car market has become more transparent, which has helped consumers make informed decisions. Moreover, the emergence of electric and hybrid vehicles in the used car market is also expected to drive the market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Used Cars market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global Used Cars Market is segmented based on Type, Distribution Channel, vendor type, fuel type, size, sales channel, and Region. Based on Type Used Cars Market is categorised into: SUV, Hatchback and Sedan. By Vendor Type, the Used Cars Market is segmented into organised and unorganised. By Fuel Type, Used Cars Market is segmented into Petrol, Diesel, Others. Based on the Distribution channel Used Cars Market is categorised into: Independent Dealer, Franchise Dealer, Based on size, the Used Cars Market is segmented into Mid-Size, SUVs, Compact. Based on the sales channel, the Used Cars Market is segmented into online and offline. Based on the region it is categorised into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The market demand and brand visibility are being boosted by advanced technology and the widespread use of the internet, as well as the availability of e-commerce platforms. The introduction of hybrid and electric vehicles has changed the dynamics of the market, with online technologies enabling consumers to gather information about the vehicles, third-party profits, residual values, and more. Furthermore, the growth of urbanization, increasing internet connectivity, and improvements in the telecom industry have made information more readily accessible to the public. Car owners are taking advantage of these factors to promote and sell their vehicles, with online forums providing a seamless process that has resulted in increased sales and expanded opportunities for buyers and sellers. These digital channels facilitate transparency between buyers and sellers and are expected to drive the market in the years to come.

Restrain

The surge in the demand for pre-owned vehicles has created opportunities for unregulated entrants in the market, particularly in countries like India, China, Thailand, Brazil, and Mexico. These unregulated players, who make up a considerable share of the used car market, operate without complying with established regulations and pose a risk to the market's growth. Customers are increasingly distrustful due to the lack of warranties and the prevalence of unethical practices like concealing defects in damaged products before selling them.

Trend

The market underwent significant changes as a result of the COVID-19 pandemic. Travel and commuting restrictions imposed due to the pandemic disrupted the market. Concerns about safety and security also led people to prefer individual cars over shared ones. Additionally, the increasing prevalence of electric and hybrid vehicles is expected to drive growth in the used car market in the coming years. This passage has been rephrased to be free of plagiarism.

Product Code: SQSG25C2008

Table of Contents

Executive Summary

  • Market Overview
  • Wheel of Fortune
  • Research Methodology
  • Information Procurement
  • Secondary & Primary Data Sources
  • Market Size Estimation
  • Market Assumptions & Limitations

Parent Market Analysis

  • Market Overview
  • Market Size
  • Market Dynamics
  • Drivers
  • Opportunities
  • Restraints
  • Challenges
  • Key Market Insights
  • Technology Analysis
  • Pricing Analysis
  • Supply Chain Analysis
  • Value Chain Analysis
  • Ecosystem of the Market
  • IP Analysis
  • Trade Analysis
  • Startup Analysis
  • Raw Material Analysis
  • Innovation Matrix
  • Pipeline Product Analysis
  • Macroeconomic Indicators
  • Top Investment Analysis
  • Key Success Factor
  • Degree of Competition
  • Market Dynamics & Outlook
  • Market Dynamics
  • Drivers
  • Opportunities
  • Restraints
  • Challenges
  • Regulatory Landscape
  • Porters Analysis
  • Competitive rivalry
  • Threat of Substitute Products
  • Bargaining Power of Buyers
  • Threat of New Entrants
  • Bargaining Power of Suppliers
  • Skyquest Special Insights on Future Disruptions
  • Political Impact
  • Economic Impact
  • Social Impact
  • Technical Impact
  • Environmental Impact
  • Legal Impact
  • Global Used Cars Market by Vehicle Type
  • Market Overview
  • SUV
  • Hatchback
  • Sedan
  • Global Used Cars Market by Distribution Channel
  • Market Overview
  • Independent Dealer
  • Franchise Dealer
  • Global Used Cars Market by Vendor Type
  • Market Overview
  • Organized
  • Unorganized
  • Global Used Cars Market by Fuel Type
  • Market Overview
  • Petrol
  • Diesel
  • Others
  • Global Used Cars Market by Size
  • Market Overview
  • Mid-Size
  • SUVs
  • Compact
  • Global Used Cars Market by Sales Channel
  • Market Overview
  • Offline and online
  • Global Used Cars Market Size by Region
  • Market Overview
  • North America
  • USA
  • Canada
  • Europe
  • Germany
  • Spain
  • France
  • UK
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Brazil
  • Rest of Latin America
  • Middle East & Africa (MEA)
  • GCC Countries
  • South Africa
  • Rest of MEA
  • Competitive Landscape
  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2021
  • Strategies Adopted by Key Market Players
  • Top Winning Strategies
  • By Development
  • By Company
  • By Year
  • Recent Activities in the Market
  • Key Companies Market Share (%), 2021
  • Key Company Profiles
  • Alibaba (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • Group 1 Automotive Inc. (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • Asbury Automotive Group (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • AutoNation Inc.(US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • CarMax Business Services, LLC (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • Cox Automotive (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • eBay Inc. (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • Hendrick Automotive Group (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • LITHIA Motor Inc. (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • Scout24 AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
  • TrueCar, Inc. (US)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
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