Global Used Cars Market Size And Market Growth Opportunities
The Business Research Company’s Used Cars Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, July 28, 2022 /EINPresswire.com/ — According to ‘Used Cars Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the used cars market size is expected to reach $1.52 trillion in 2026 at a CAGR of 5.73%. The emergence of online platforms for used car sales globally is significantly driving the used car market growth.
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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 Trends
Increasing investment in the market is one of the key used car industry trends gaining popularity. Major companies operating in the market are focused on increasing investments for business expansion and strengthening their business position which is shaping the used car market outlook. For instance, in December 2020, Volkswagen, a leading motor vehicle manufacturer based in Germany, announced the expansion of its digitally connected pre-owned automobile dealership network in India with the opening of two new locations, one each in Ahmedabad and Bengaluru. In addition, the automaker reiterated its intention to open 21 such dealerships that will increase its focus on used cars business investments.
Global Used Cars Market Segments
The global used cars market is segmented:
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 global used cars market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
Read more on the global used cars market report here
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 and growth for the global used cars market, used cars market share, used cars market segments and geographies, used cars market players, used cars market leading competitor revenues, profiles and market shares. The used cars market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Used Cars Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key 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.
And so much more.
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