Market Snapshot:
The used vehicle market has experienced substantial growth in recent years, driven by factors such as affordability, rising consumer demand for reliable transportation, and advancements in online platforms facilitating easier buying and selling. The market is diverse, encompassing various vehicle types, consumer demographics, distribution channels, and geographical regions. The trend towards budget-conscious purchasing, especially among younger buyers and first-time car owners, is boosting demand, while businesses and fleet operators also contribute significantly to the market. The U.S. and Canada are major markets for used vehicles, with a strong presence of both online and offline sales channels. Consumers in North America tend to have a wide selection of vehicles to choose from, with a focus on cars, trucks, and SUVs.
Highlights from Used Vehicles Industry Market Study
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Roadster (United States), Scania Group (Sweden), Orange Book Value (India), Walser Automotive Group (United States), Acadia Toyota (United States), Bergstrom Automotive (United States), Woodhouse Auto Family (United States), Lee Johnson Auto. (United States), Sterling Automotive Group (United States) and Steele Auto Group (Canada). Additionally, other players that are part of this comprehensive study are Galpin Motors, Inc. (United States), Broadway automotive (United States), Blue Knob Auto (United States), Edmunds (United States), Dan Cummins Chevrolet-buick,inc. (United States) and TrucksBuses AutoWeb Pvt. Ltd (India).
Geographic Breakdown and Segment Analysis
The Global Used Vehicles Industry market presents a comprehensive analysis of the Used Vehicles Industry market and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Used Vehicles Industry industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Used Vehicles Industry market
Analyst at AMA have segmented the market study of Global Used Vehicles Industry market by Type, Application and Region.
Influencing Trend:
Advancements In Technology Use Of E-Commerce Sites To Increase The Demand For Business
Market Growth Drivers:
Rising The Price Of New Vehicle Fuel The Demand For Used Vehicles and Growing Awareness Of Benefit Of Used Vehicle Such As Lower Annual Registration Fees, Lower Insurance Premiums Among Consumer
Challenges:
Regulatory Guidelines On The Used Vehicles Suppliers
Restraints:
High Cost Associated With Repair And Maintenance Of Used Vehicle
Opportunities:
Growing Demand For Used Vehicle From Middle-Class Population and Increase In Organized/Semi-Organized Sales In Develop Regions
Market Developments Activities:
On 4 June 2021, Automotive technology company CDK Global this week acquired Roadster, a digital sales platform on which consumers purchase vehicles from dealers. The integration of CDK and Roadster’s capabilities will enable franchise auto dealers to sell new and used vehicles completely online, while allowing consumers to complete their buying process online or in a dealership
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Used Vehicles Industry, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others