Global Used Cars Market Overview And Prospects – Includes Used Cars Market Share
Learn about the global used cars market through The Business Research Company, which provides information on used cars market size, used cars market drivers and restraints, used cars market players, the COVID-19 impact on the used cars market, and more.
The global used cars market is expected to grow from $1,154.95 billion in 2021 to $1,219.23 billion in 2022 at a compound annual growth rate (CAGR) of 5.57%. The global used cars market size is expected to reach $1,523.77 billion in 2026 at a CAGR of 5.73%.
The emergence of online platforms for used car sales globally is significantly driving the growth of the used cars market.
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The used cars market consists of the sale of used cars by entities (organizations, partnerships, and sole proprietors) that refer to cars that are preowned by one or more owners. Used cars are generally purchased due to budget restrictions or by first-time buyers. In addition to that, a used car has an advantage over a new one as it depreciates at a slower pace. Particularly for first-time car buyers, used cars are more useful and affordable at the same time.
Global Used Cars Market Segments Include:
By Vehicle Type: Hatchback, Sedan, SUV
By Fuel Type: Petrol, Diesel, Hybrid/Electric
By Sales Channel: Peer-To-Peer, Franchised Dealers, Independent Dealers
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global used cars market in 2021.
Increasing investment in the market is a key trend gaining popularity in the used cars market. Major companies operating in the used cars market are focused on increasing investments for business expansion and strengthening their business position.
TBRC’s Used Cars Market Report Covers:
Major Market Players: Hendrick Automotive Group, Group 1 Automotive, Inc., Cox Automotive, Asbury Automotive Group, Inc., CarMax Business Services LLC, TrueCar, Inc, Pendragon PLC, Lithia Motors, Inc., The Hertz Corporation, AutoNation, Quikr, Honda Auto Terrace, Toyota U-Trust, Vroom, OLX, Cars24 services private limited, Big Boy Toyz ltd, Alibaba.com, Scout24 AG.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Used Cars Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides used cars market overviews, analyzes and forecasts market size, share, used cars market players, used cars market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s used cars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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