What is the global market size of Used Cars Market?

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).

Used Cars Companies

Used Cars Market Competitive Landscape

In the Global Used Cars Market, few big and medium-sized market players account for a large portion of market revenue. Major players are implementing numerous tactics and strategies including mergers and acquisitions, strategic agreements and contracts leveraging ways to generate high market revenue.

Used Cars Market Top Players Company Profiles

CarMax
Vroom
CarGurus
Shift Technologies
Autotrader
TrueCar
Cars.com
Beepi
Carvana
Hertz Car Sales
Enterprise Car Sales
Avis Car Sales
Budget Car Sales
Alamo Car Sales
National Car Sales
Thrifty Car Sales
Sixt Car Sales
Europcar Used Car Sales
ADESA
Manheim

Used Cars Market

FAQs

Used Cars Market size was valued at USD 931.9 billion in 2019 and is poised to grow from USD 996.906 billion in 2023 to USD 1700.1 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

In the Used Cars Market, few big and medium-sized market players account for a large portion of market revenue. Major players are implementing numerous tactics and strategies including mergers and acquisitions, strategic agreements and contracts leveraging ways to generate high market revenue. 'CarMax', 'Vroom', 'CarGurus', 'Shift Technologies', 'Autotrader', 'TrueCar', 'Cars.com', 'Beepi', 'Carvana', 'Hertz Car Sales', 'Enterprise Car Sales', 'Avis Car Sales', 'Budget Car Sales', 'Alamo Car Sales', 'National Car Sales', 'Thrifty Car Sales', 'Sixt Car Sales', 'Europcar Used Car Sales', 'ADESA', 'Manheim'

Advanced technology and prevalent usage of the internet, and easy access to e-commerce sites/applications are boosting the market demand and helping in building brand presence. The introduction of hybrid vehicles and electric vehicles has altered the buyer‘s position in the market. Online technologies help consumers in gaining information knowledge about the vehicle, third party profit margins, its residual value and others. Moreover, surging urbanisation, rising internet connectivity along with developments in the telecom sector have allowed for much-better information access for people. Car owners are using these factors to spread details and advertise their vehicles. Online forums have provided a seamless process thereby causing increased sales and enabling more stakeholders to sell and buy cars. These online means create transparency between buyer and seller and are thus estimated to be a market driver in upcoming years.

The COVID-19 Pandemic had a remarkable impact on the market. The pandemic hit disrupted the market due to travelling commuting restrictions. The security and safety concerns also inclined individuals towards individual cars in comparison to shared vehicles. The prevalence of Electric vehicles and hybrid vehicles is further creating a potential used cars market in upcoming years.

On the basis of the region, the Asia Pacific held the largest share of the used cars market. The market share was over 35% in 2021. The rapid growth of market demand in China for used cars is attributed to this rising share. The Asia Pacific is estimated to propel the highest market share over the estimated period. increasing sales of the used car in China, India, and other Asian countries is a major contributing factor to the market growth.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Used Cars Market Competitive Landscape

Used Cars Market Report Snapshots

Want to customize this report?

FAQs

Request Free Customization

Feedback From Our Clients

$5,300

Used Cars Market Competitive Landscape

Used Cars Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Used Cars Market?

Who are the key vendors in the Used Cars Market?

What is the key driver of Used Cars Market?

What is the key market trend for Used Cars Market?

Which region accounted for the largest share in Used Cars Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300