(MENAFN- EIN Presswire)
SHERIDAN, WY, USA, July 18, 2022 /EINPresswire.com / -- According to IMARC Group's latest report, titled“Used Car market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global used car market is expected to exhibit a CAGR of 9.4% during 2022-2027. A used car is a second-hand vehicle, which is refurbished and repaired to working conditions and available for resale. The cars are available through several outlets, such as independent car dealers and franchises, auctions, rental car companies, private party sales, and leasing offices. The mobility and availability of more finance options in second-hand vehicles have compelled consumers to incline toward buying used cars.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request a Free PDF Sample of the Report:
Global Used Car Market Trends:
The lower rate of personal car ownership by the younger population due to the high cost of maintenance and rising environmental consciousness are some of the key factors primarily driving the used car market across the globe. In addition to this, the increasing organized and semi-organized sales across emerging countries and the surging demand for second-hand luxury cars are boosting market growth. Besides this, the online availability of used cars, the integration of blockchain technology to store the maintenance record of the vehicle, and the rising awareness regarding the advantages offered by the deal, including full warranty and insurance , minimized depreciation costs, and enhanced affordability for the buyer, are creating a positive outlook for the market.
Used Car Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the used car market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
•Alibaba Group Holding Limited
•Arnold Clark Automobiles Limited
•Asbury Automotive Group Inc.
•AutoNation Inc.
•CarMax Business Services LLC
•Cox Automotive Inc. (Cox Enterprises Inc)
•eBay Inc.
•Group1 Automotive Inc.
•Lithia Motors Inc.
•Pendragon PLC
•TrueCar Inc.
Key Market Segmentation:
The report has segmented the global used car market on the basis of vehicle type, vendor type, fuel type, sales channel and region.
Breakup by Vehicle Type:
•Hatchbacks
•Sedan
•Sports Utility Vehicle
•Others
Breakup by Vendor Type:
•Organized
•Unorganized
Breakup by Fuel Type:
•Gasoline
•Diesel
•Others
Breakup by Sales Channel:
•Online
•Offline
Breakup by Region:
•North America (United States, Canada)
•Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
•Europe (Germany, France, United Kingdom, Italy, Spain, Others)
•Latin America (Brazil, Mexico, Others)
•Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iran, Others)
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures:
Key Highlights of the Report:
•Market Performance (2016-2021)
•Market Outlook (2022-2027)
•Market Trends
•Market Drivers and Success Factors
•Impact of COVID-19
•Value Chain Analysis
•Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here
MENAFN18072022003118003196ID1104545433
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.