According to MRFR analysis, the global Used Vehicle Market is expected to register a CAGR of ~8.30% from 2022 to 2030 and hold a value of over USD 1355.95 billion by 2030.
A used car is a pre-owned automobile that may be
sold again. Used automobiles are sold through a variety of channels, including
franchise and independent auto dealers, rental car agencies, auctions, private
party sales, and leasing offices.
The expansion of the used car market is being
supported by elements like the high price of new cars, worries about
affordability, and the rise in demand for off-lease vehicles & subscription
services by the franchise, leasing offices, and auto dealers, among others. In
addition, the emergence of e-commerce and online technologies, a steady rise in
organized/semi-organized sales in emerging nations, a rise in the global market
for electric vehicles, and demand for car-sharing services are all predicted to
present lucrative opportunities for the expansion of the used car market.
Get a Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7616
Regional Analysis
Unorganized companies have long dominated the used
car industry in nations such as Mexico, India, China, and Brazil. Contrary to
these unorganized players in developing nations, organized players provide free
service and free towing at the dealership in addition to the growth of the used
car industry in such nations.
With the use of these services, dealerships may
draw clients and foster a relationship of trust between buyers and sellers.
TrueCar Military, for instance, was introduced by TrueCar, Inc. For members of
the U.S. armed services on active duty, veterans, retirees from the armed
forces, and their families, TrueCar Military offers special incentives and
perks. Additionally, there is a rise in demand for electric cars as a result of
the introduction of strict emission rules and the requirement for pollution control
systems.
Enquire For Discount: https://www.marketresearchfuture.com/check-discount/7616
Used Vehicle Market Demand and Growth:
The demand for used vehicles has seen significant
growth in recent years due to several factors. Firstly, the cost of purchasing
a new vehicle has increased, making used vehicles a more affordable alternative
for many consumers. Additionally, advances in technology and manufacturing have
made used vehicles more reliable, which has also contributed to their
popularity.
Another factor driving the growth of the used
vehicle market is the increasing availability of online marketplaces, such as
AutoTrader, CarGurus, and Craigslist, which make it easier for buyers and
sellers to connect. These platforms provide consumers with a wider range of
options, detailed information on the vehicles they are interested in, and the
ability to compare prices and make purchases from the comfort of their own
homes.
Furthermore, the COVID-19 pandemic has also had a
significant impact on the used vehicle market. With many people facing
financial uncertainty and job losses, the used vehicle market has become an
attractive option for those looking to purchase a vehicle at a lower cost.
Additionally, with more people working from home and traveling less, there has
been an increase in demand for recreational vehicles and trucks, as people look
for ways to explore and enjoy the outdoors.
In conclusion, the used vehicle market is expected
to continue its growth trend in the coming years, driven by a combination of
affordability, reliability, and convenience.
Browse Full Report @ https://www.marketresearchfuture.com/reports/used-vehicle-market-7616
Market Segmentation
The Global Used Vehicle Market has been segmented
into Vehicle Type, Fuel Type, and Distribution Channel
Based on the Vehicle Type, the market has been
segmented into Hatchbacks, Sedans, and SUVs.
Based on the Fuel Type, the market has been
segmented into Petrol, Diesel, and Others.
Based on the Distribution Channel, the market has
been segmented into Franchised dealers, Independent dealers, and Others.
Key Players
Some of the key market players are CarMax Business
Services, Manheim, Autotrader Inc, HERTZ CAR SALES, Cox Automotive Inc, Sun
Toyota, Alibaba Group, eBay, PenskeCars, TrueCar Inc, and Vroom Inc.
More Related Report:
Automotive
Power Electronics Market
Automotive
Structural Sheet Metal Market
.png)
.png)
No comments:
Post a Comment