The Business Research Company’s Used Cars Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, August 15, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Used Cars Global Market Report 2022”, the used cars market size is expected to grow from $1.15 trillion in 2021 to $1.22 trillion in 2022 at a compound annual growth rate (CAGR) of 5.57%. The global used cars market size is expected to reach $1.52 trillion in 2026 at a CAGR of 5.73%. According to the used cars industry analysis, the emergence of online platforms for used car sales globally is significantly driving the growth of the market.
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Key Trends In The Used Cars Market
Increasing investment in the market is one of the key used cars market trends gaining popularity. Major companies operating in the market are focused on increasing investments for business expansion and strengthening their business position. 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.
Overview Of The Used Cars Market
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.
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Used Cars Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• 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 research report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as 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.
Trends, opportunities, strategies and so much more.
Used Cars Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of used cars global market. The market report analyzes used cars global market size, used cars market growth drivers, used cars market segments, used cars market major players, used cars market growth across geographies, and used cars market competitors’ revenues and market positioning. The used cars market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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