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Used Car Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Global Used Car Market Overview 2022-2027:

The global used car market is expected to exhibit a CAGR of 9.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A used car is a pre-owned or secondhand vehicle, which is repaired and refurbished to regain working conditions before the sale. It is affordable, does not require registration fees and other charges, and offers a better value and reliability for the amount paid. It is available through various outlets, such as independent car stores, rental car companies, and private party sales. At present, used cars are gaining immense traction across the globe, especially among the middle-class population.

 

 
 

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Used Car Market Trends:

The increasing global population and rapid urbanization are among the key factors positively influencing the market. In addition, people in metropolitan cities prefer owning a personal vehicle for convenience and enhanced travel experience, which is catalyzing the demand for used cars across the globe. Apart from this, the rising awareness among individuals about the benefits of using secondhand vehicles on environmental health is supporting market growth. Furthermore, various retailers are digitalizing their processes and operations and participating in online sales to offer complete transparency to their customers. They are also focusing on increasing investments in advanced technologies, such as artificial intelligence (AI), big data analytics, and blockchain, which is propelling the market growth. These technologies help store the maintenance history record of the carbon footprint, provide digitized recommendations regarding vehicle health, and generate performance reports of used cars accordingly, which is offering a favorable market outlook. Moreover, rapid expansion and significant improvements in the online refurbished car retail channels and the escalating demand for pre-owned luxury cars are stimulating market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global used car market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on vehicle type, vendor type, fuel type, and sales channel.

Breakup by Vehicle Type:

 

 
 

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  • Hatchbacks
  • Sedan
  • Sports Utility Vehicle
  • Others

Sports utility vehicles (SUVs) are the most preferred vehicle types on account of their robustness, fuel efficiency, safety, and enhanced towing capabilities.

Breakup by Vendor Type:

  • Organized
  • Unorganized

Unorganized vendors currently dominate the market due to the presence and emergence of numerous unorganized dealers across the globe.

Breakup by Fuel Type:

  • Gasoline
  • Diesel
  • Others

Based on the fuel type, the market has been segmented into gasoline, diesel, and others.

Breakup by Sales Channel:

  • Online
  • Offline

The offline distribution channel holds the majority of the market share as consumers prefer buying a used car from a known dealer for a seamless buying experience.

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

The Asia Pacific exhibits a clear dominance in the market due to the expanding supply base and the escalating demand for affordable used cars in the region.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alibaba Group Holding Limited, Arnold Clark Automobiles Limited, Asbury Automotive Group Inc., AutoNation Inc., CarMax Business Services LLC, Cox Automotive Inc. (Cox Enterprises Inc), eBay Inc., Group1 Automotive Inc., Lithia Motors Inc., Pendragon PLC and TrueCar Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Vehicle Type, Vendor Type, Fuel Type, Sales Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alibaba Group Holding Limited, Arnold Clark Automobiles Limited, Asbury Automotive Group Inc., AutoNation Inc., CarMax Business Services LLC, Cox Automotive Inc. (Cox Enterprises Inc), eBay Inc., Group1 Automotive Inc., Lithia Motors Inc., Pendragon PLC and TrueCar Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Used Car Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Vehicle Type
    6.1    Hatchbacks
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Sedan
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Sports Utility Vehicle
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7   Market Breakup by Vendor Type
    7.1    Organized
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Unorganized
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Fuel Type
    8.1    Gasoline
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Diesel
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by Sales Channel
    9.1    Online
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Offline
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Alibaba Group Holding Limited
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Arnold Clark Automobiles Limited
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
        15.3.3    Asbury Automotive Group Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    AutoNation Inc.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    CarMax Business Services LLC
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Cox Automotive Inc. (Cox Enterprises Inc.)
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    eBay Inc.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Group1 Automotive Inc.
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    Lithia Motors Inc.
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    Pendragon PLC
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
        15.3.11    TrueCar Inc.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials

List of Figures

Figure 1: Global: Used Car Market: Major Drivers and Challenges
Figure 2: Global: Used Car Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Used Car Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Used Car Market: Breakup by Vehicle Type (in %), 2021
Figure 5: Global: Used Car Market: Breakup by Vendor Type (in %), 2021
Figure 6: Global: Used Car Market: Breakup by Fuel Type (in %), 2021
Figure 7: Global: Used Car Market: Breakup by Sales Channel (in %), 2021
Figure 8: Global: Used Car Market: Breakup by Region (in %), 2021
Figure 9: Global: Used Car (Hatchbacks) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Used Car (Hatchbacks) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Used Car (Sedan) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Used Car (Sedan) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Used Car (Sports Utility Vehicle) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Used Car (Sports Utility Vehicle) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Used Car (Other Vehicle Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Used Car (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Used Car (Organized) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Used Car (Organized) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Used Car (Unorganized) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Used Car (Unorganized) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Used Car (Gasoline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Used Car (Gasoline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Used Car (Diesel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Used Car (Diesel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Used Car (Other Fuel Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Used Car (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Used Car (Online) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Used Car (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Used Car (Offline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Used Car (Offline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: North America: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: North America: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: United States: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Asia-Pacific: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Asia-Pacific: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: China: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Germany: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Latin America: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Latin America: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Brazil: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Middle East and Africa: Used Car Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Middle East and Africa: Used Car Market: Breakup by Country (in %), 2021
Figure 79: Middle East and Africa: Used Car Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Global: Used Car Industry: SWOT Analysis
Figure 81: Global: Used Car Industry: Value Chain Analysis
Figure 82: Global: Used Car Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Used Car Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Used Car Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 3: Global: Used Car Market Forecast: Breakup by Vendor Type (in Million US$), 2022-2027
Table 4: Global: Used Car Market Forecast: Breakup by Fuel Type (in Million US$), 2022-2027
Table 5: Global: Used Car Market Forecast: Breakup by Sales Channel (in Million US$), 2022-2027
Table 6: Global: Used Car Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Used Car Market: Competitive Structure
Table 8: Global: Used Car Market: Key Players


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Key Questions Answered in This Report

The global used car market was valued at US$ 814 Billion in 2021.

We expect the global used car market to exhibit a CAGR of 9.4% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the demand fluctuations for used cars.

The rising environmental consciousness, along with the growing consumer preference for refurbished cars, as they provide convenience and enhanced travel experience with no registration fees and other charges, is primarily driving the global used car market.

Based on the vehicle type, the global used car market can be categorized into hatchbacks, sedan, sports utility vehicle, and others. Among these, sports utility vehicle currently exhibits clear dominance in the market.

Based on the vendor type, the global used car market has been segmented into organized and unorganized, where unorganized vendors hold the largest market share.

Based on the sales channel, the global used car market can be bifurcated into online and offline. Currently, offline channel accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global used car market include Alibaba Group Holding Limited, Arnold Clark Automobiles Limited, Asbury Automotive Group Inc., AutoNation Inc., CarMax Business Services LLC, Cox Automotive Inc. (Cox Enterprises Inc), eBay Inc., Group1 Automotive Inc., Lithia Motors Inc., Pendragon PLC, and TrueCar Inc.

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