Top Players in the Used Car Market

Top Players in the Used Car Market

The global used car market size reached US$ 974 Billion in 2023, Looking forward, IMARC Group expects the market to reach US$ 2,004 Billion by 2032, exhibiting a growth rate (CAGR) of 8.32% during 2024-2032. As per the analysis by IMARC Group, the top used car companies across the globe are increasingly focusing on digitalizing numerous processes and operations. They are also participating in online sales to offer enhanced convenience and complete transparency to their customers. Furthermore, they are integrating advanced technologies, including artificial intelligence (AI) and big data analytics, with their processes to gain a competitive edge in the market. Apart from this, numerous key players are deploying the usage of blockchain technologies for obtaining digitized recommendations regarding vehicle health as well as storing and preserving the maintenance history records of the carbon footprint of the used cars, which is expected to create a positive outlook for the market.

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List of Top Used Card Companies in the World

Alibaba Group Holding Limited

Establishment: 1999
Headquarter: China

Alibaba Group Holding Limited is a holding company that is one of the leading players in retail, e-commerce, internet, and technology. It offers technology infrastructure and marketing reach to numerous merchants, brands and businesses to leverage the power of new technology. It operates four business segments, namely commerce, cloud computing, digital media and entertainment, and innovation initiatives. It owns a diverse portfolio of companies across the globe in varied business segments.

Arnold Clark Automobiles Limited

Establishment: 1954
Headquarter: United Kingdom

Arnold Clark Automobiles Limited is one of the largest independently owned, family-run car retailers across the United Kingdom. It operates more than 200 new- and used-car shops across the region, selling more than 250,000 cars a year from around 25 manufacturers. It offers cars, trucks, garage equipment, automotive parts and accessories with more than 150 service centers, 40 repair shops, and 15 auto parts and accessories stores across the United Kingdom. With over 2 million customers, the company also offers car finance and insurance, vehicle aftercare, servicing, and accident repairs and management to its customers.

Asbury Automotive Group Inc.

Establishment: 1995
Headquarter: United States

Asbury Automotive Group Inc. is one of the leading automotive retailers in the United States. It operates auto dealerships across various parts of the country with its 112 franchises in 18 metropolitan markets within 10 states. It provides a vast range of automotive products and services, including new and used vehicles, and vehicle repair and maintenance services to its customers. Apart from these, the company also offers collision repair services, finance and insurance products, and aftermarket products, such as prepaid maintenance, extended service contracts, and guaranteed asset protection (GAP) insurance.

AutoNation Inc.

Establishment: 1996
Headquarter: United States

AutoNation Inc. is one of the leading auto dealers and retailers in the United States. It operates through 315 vehicle franchises across 15 states by offering a vast range of automotive products and services, including new vehicles, used vehicles, parts and services, such as automotive repair and maintenance services. It operates through three segments, namely domestic, import and premium luxury.

CarMax Business Services LLC

Establishment: 2009
Headquarter: United States

CarMax Business Services LLC is a key player in the used car market that offers automobile financing services. Headquartered in Kennesaw, it is one of the leading automotive dealers in the country. The company provides on-site financing services for automobiles across all of its locations. With more than 25,000 associates across the United States with more than 200 retail locations, it also provides online services for used cars in an attempt to offer enhanced convenience to its customers.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the used car industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:

  • Market Research
  • Plant setup
  • Plant Expansion
  • Marketing and sales
  • Procurement and Distribution
  • Innovation and Product Development

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