Global Used Vehicle Market Overview

The Global Used Vehicle Market size is expected to grow from USD 1057.96 billion in 2022 to USD 2031.93 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).

A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales. Some car retailers offer "no-haggle prices," "certified" used cars, and extended service plans or warranties. The growth of the Internet has fueled the availability of information on the prices of used cars. This information was once only available in trade publications that dealers had access to. There are now numerous sources, such as online appraisal tools and internet classified ads, for used car pricing. Multiple sources of used car pricing mean that listed values from different sources may differ. Each pricing guide receives data from different sources and makes different judgments about that data. The pricing of used cars can be affected by geography. Convertibles, for example, are more popular in hotter climes than in colder ones. Pickup trucks, on the other hand, maybe in more demand in rural areas than in metropolitan areas. The general condition of the car has a significant bearing on the price. Appearances, car history, mechanical condition, and mileage are used to determine the condition. The way a car's condition is assessed has a lot of subjectivity. Furthermore, due to disparities in income levels, car depreciation levels range significantly across exporting and importing countries. In high-income countries, the value of a car depreciates quicker than in low-income countries. Old car merchants in high-income nations may thus sell their used automobiles in low-income countries for a greater price. This is the reason for the incentive to export secondhand cars. Japan, the EU, the United States, and Canada are the top automotive exporting countries (both new and used vehicles).

Used Vehicle Market

Market Dynamics And Factors For Used Vehicle Market

Drivers:

Personal Mobility is in High Demand

In practically all cities across the country, population growth has outpaced public transportation, resulting in a decline in reliance on public transportation. The susceptibility of such mediums was also demonstrated by the pandemic. People who formerly relied on public and private transportation, carpooling, or shared services have moved their attention to personal mobility. People are focused more on social distance standards in metro and even non-metro cities, with health safety being the primary concern. Eventually, this will lead to an increase in the demand for personal automobiles. People from all walks of life, even those from lower socioeconomic levels, are inclined to save their discretionary money in the event of future uncertainty. As a result, personal mobility is likely to grow as a result of affordability.

The Improvement of Online Infrastructure Has a Positive Impact on The Used Vehicle Market

The used automobile market is becoming more structured as smartphone and internet use rises in emerging nations, particularly in Asia-Pacific. Used vehicle dealers are leveraging digitalization to make market offers more appealing. More clients are buying used automobiles because of features like an extensive quantity of photographs and videos on the web platform and an easy online rapid lending service.

Restraints:

Regularization is Lacking

Because the dealer cannot obtain automobiles to serve their clients until the owner does not sell them on the market, the used vehicle dealer is reliant on the seller. If new car sales fall, the market will become short of supplies after a while. Furthermore, the epidemic has impacted negatively on the automotive industry. Consumers are predicted to choose private transportation in the aftermath of the outbreak. As a result, the used vehicle industry is entirely reliant on replacement buyers, vehicle owners selling their vehicles, and used car imports, which generates a great deal of uncertainty in terms of supply to meet market demand. As a result, these issues are projected to stifle the used vehicle market's growth shortly.

Opportunities:

Technology advancements such as the internet's expansion, the usage of e-commerce sites/applications to drive company demand, and the advent of hybrid and electric vehicles have transformed the buyer's position in the market. Consumers are getting more aware of the car, its residual value, third-party profit margin, and other factors thanks to web technology. Furthermore, rising urbanization increased internet access, and technological advancements in the telecom industry have resulted in a vastly improved information flow for individuals. Used vehicle owners are increasingly relying on these variables to promote their automobiles and provide information about them. This internet platform has streamlined the sales procedure and made it easier for more people to sell and acquire automobiles. The supply side of the used vehicle market has more weight than the demand side, and transparency via information has transformed the dynamics and allowed them to use consumer insight to their benefit, therefore growing the demand for a used vehicle in the future.

Market Segmentation

Segmentation Analysis of Used Vehicle Market:

Based on the vehicle type, the passenger vehicle segment is expected to dominate the used vehicle market over the forecast period. The private vehicle has altered contemporary civilization for almost a century by enabling independence and mobility. Because of the ever-increasing distances between home, work, educational institutions, shopping, and recreational facilities, mobility is becoming increasingly crucial. People who live in cities may use taxis, carsharing, or on-demand services instead of or in addition to their vehicles. Home care and medical aid, as well as a variety of other emergency services, are made possible by passenger automobile travel.

Based on the vehicle age, the 0-5 years segment is expected to hold the maximum used vehicle market share over the forecast period.  The optimal age to buy a used automobile is very subjective, and it all depends on the customer's preferences. Buying a used automobile that is less than five years old saves a lot of money over buying a new car and gives you an almost new car. A five-year-old car, on the other hand, delivers even more spectacular savings and is unlikely to cost much more in yearly maintenance provided the client is ready to forego appearance and amenities.

Based on the fuel type, the petrol vehicle segment is anticipated to register the maximum used vehicle market share over the forecast period. Petrol automobiles are often less expensive to buy and maintain since parts and mechanics are simpler to come by for them than for hybrid or electric vehicles. Petrol cars also perform better in terms of speed, acceleration, and agility (a hybrid vehicle's battery, for example, becomes dead weight when it runs out).

Based on the propulsion, the ICE segment is projected to hold the highest used vehicle market share throughout the forecast period. Due to the tightening of laws on diesel vehicles in the particular region, the demand for used petrol automobiles is increasing in the market. Furthermore, as compared to electric vehicles, these vehicles require less maintenance. Internal combustion engines also have the benefit of being liquids, which are easy to carry, generally accessible, and can be refueled rapidly.

Based on the vendor type, the organized vendor segment is expected to hold the maximum used vehicle market share over the forecast period. In the next years, this segment is expected to account for more than two-thirds of the market. The market is highly fragmented, with many dealers across the world. The market is seeing an increase in the number of franchised dealers. The introduction of new companies and innovative retail formats into the industry also contributed to the sector's expansion. Franchised dealers in the United States generated larger gross earnings on used car sales than independent dealers, according to the NADA. Furthermore, the organized sellers profited from increased brand loyalty among consumers of all ages.

Based on the sales channels, offline sales accounted for the largest volume share over the forecast period. This is due to the consumer's preference for traditional purchasing methods. The internet sales channel sector, on the other hand, is likely to rise significantly over time. The market has become more competitive due to the introduction of internet tools for both vendors and customers. Furthermore, dealers have seen tremendous development as a result of the internet availability of information such as pricing, reviews, specs, and other items.

Regional Analysis of Used Vehicle Market:

Due to the region's growing automotive industry and the region's strong presence of economic inequalities, which has created two distinct consumer demographics, one buying new cars and the other buying used cars, Asia Pacific is expected to dominate the global used vehicle market over the forecast period. SUVs and other 4WD vehicles are among the major income sources for the used vehicle industry, therefore the expanding production of SUVs by regional automotive manufacturers in the Asia Pacific is projected to be a significant driver for the used vehicle market in the Asia Pacific. The growing usage of the Internet in the Asia Pacific has benefited the used car industry, and it is expected to continue to be one of the market's primary drivers during the projected period.

Because of the existence of multiple used vehicle market competitors and the rising demand for a used vehicle in the region, North America is the second biggest regional market for used vehicles and is likely to hold a major position.

The used vehicle market is predicted to grow as disposable income rises, the urban population grows, used vehicle sales increase online, the overall population grows, and the benefits of a used vehicle over a new car grow, among other factors. Cost-effective, better for the environment, readily upgradeable, slower depreciation, reduced insurance costs, easier affordability, and no registration fees are just a few of the advantages of buying a used vehicle. Growing economies in Latin America and the Middle East might also play a key part in the global used vehicle market's growth during the projected period, as customers in these countries have turned to used automobiles rather than new vehicles due to a lack of discretionary cash.

Players Covered in Used Vehicle Market are:

  • Alibaba Group
  • Vroom
  • OLX
  • Cars24
  • Autotrader (Cox Automotive)
  • TrueCar
  • Truevalue
  • First choice
  • Maruti Suzuki India Ltd.
  • PenskeCars (Penske Automotive Group)
  • Quikr
  • Mahindra First Choice
  • Group 1 Automotive Inc.
  • Asbury Automotive Group
  • Hendrick Automotive Group
  • AutoNation Inc.
  • LITHIA Motor Inc.
  • eBay
  • CarMax Business Services LLC.
  • Scout24 AG
  • Cox Automotive
  • Sun Toyota and other major players.

COVID-19 Impact on Used Vehicle Market

Many industries are struggling for existence as a result of the Corona epidemic, and the automobile sector is one among them. As a result of the covid-19 epidemic, secondhand automobile and basic bike sales may increase, as society shifts to own vehicles rather than public transportation. The purchase of new automobiles would be hampered by a variety of financial issues that exist in the economy. Because of the increasing need for personal mobility as a result of the Covid-19 epidemic, the used automobile industry is experiencing supply restrictions, since individuals are keeping their cars longer.

Meanwhile, demand for used automobiles has risen significantly in comparison to pre-Covid periods, resulting in a 2-7 percent increase in used car prices due to a supply-demand mismatch. Furthermore, demand for secondhand automobiles has risen significantly since the beginning of the epidemic. Customers are keeping their used vehicles rather than selling them as they would before the epidemic, swaps have been hurt by continuous issues in the new car market, and repossessions have almost ceased since April owing to the ongoing loan moratorium. Sales were hampered over the first several months due to supply shortages and the unpredictable nature of the lockdown.

Key Industry Developments In Used Vehicle Market

  • In November 2021, Shriram Automall India Ltd and Daimler India Commercial Vehicles have launched a strategic partnership to provide used commercial vehicles to the local CV market. Customers will be able to swap their old car of any brand for a new or used BharatBenz vehicle anywhere in the country as a result of the partnership.
  • In December 2020, OLX Autos, a car buying/selling model with a significant online and offline component, was launched on this day by the OLX Group, the world's top global marketplace network. OLX Autos unites the company's online operations, which feature industry-leading technology, with its well-known offline brand, CashMyCar (which will be renamed as OLX Autos outlets). A trustworthy verified inventory of automobiles, inspected autos, new automotive associated services, and a new interface throughout OLX's online presence (web+app) are among the new product advancements. The new services have begun to roll out across India, and they will be available at OLX's 100+ current franchise and company-owned stores in 20+ major metro and non-metro locations, as well as the company's online presence (web+app).

Global Used Vehicle Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 1057.96 Bn.

Forecast Period 2023-30 CAGR:

8.5%

Market Size in 2030:

USD 2031.93 Bn.

Segments Covered:

By Type

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Vehicle Age

  • 0-5
  • 6-10
  • 11-15
  • 15 Years & Above

By Fuel Type

  • Petrol
  • Diesel
  • Natural Gas
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Personal Mobility is in High Demand

Key Market Restraints:

  • Regularization is Lacking

Key Opportunities:

  • Technology Advancements Such as the Internet's Expansion

Companies Covered in the report:

  • Alibaba Group, Vroom, OLX, Cars24, Autotrader (Cox Automotive), TrueCar, and Other major players.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Vehicle Age
 3.3 By Fuel Type

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Used Vehicle Market by Type
 5.1 Used Vehicle Market Overview Snapshot and Growth Engine
 5.2 Used Vehicle Market Overview
 5.3 Passenger Car
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Passenger Car: Grographic Segmentation
 5.4 Light Commercial Vehicle
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Light Commercial Vehicle: Grographic Segmentation
 5.5 Heavy Commercial Vehicle
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Heavy Commercial Vehicle: Grographic Segmentation

Chapter 6: Used Vehicle Market by Vehicle Age
 6.1 Used Vehicle Market Overview Snapshot and Growth Engine
 6.2 Used Vehicle Market Overview
 6.3 0-5
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 0-5: Grographic Segmentation
 6.4 6-10
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 6-10: Grographic Segmentation
 6.5 11-15
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 11-15: Grographic Segmentation
 6.6 15 Years & Above
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 15 Years & Above: Grographic Segmentation

Chapter 7: Used Vehicle Market by Fuel Type
 7.1 Used Vehicle Market Overview Snapshot and Growth Engine
 7.2 Used Vehicle Market Overview
 7.3 Petrol
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Petrol: Grographic Segmentation
 7.4 Diesel
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Diesel: Grographic Segmentation
 7.5 Natural Gas
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2016-2028F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Natural Gas: Grographic Segmentation
 7.6 Others
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2016-2028F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Others: Grographic Segmentation

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Positioning
  8.1.2 Used Vehicle Sales and Market Share By Players
  8.1.3 Industry BCG Matrix
  8.1.4 Ansoff Matrix
  8.1.5 Used Vehicle Industry Concentration Ratio (CR5 and HHI)
  8.1.6 Top 5 Used Vehicle Players Market Share
  8.1.7 Mergers and Acquisitions
  8.1.8 Business Strategies By Top Players
 8.2 ALIBABA GROUP
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Operating Business Segments
  8.2.5 Product Portfolio
  8.2.6 Business Performance
  8.2.7 Key Strategic Moves and Recent Developments
  8.2.8 SWOT Analysis
 8.3 VROOM
 8.4 OLX
 8.5 CARS24
 8.6 AUTOTRADER (COX AUTOMOTIVE)
 8.7 TRUECAR
 8.8 TRUEVALUE
 8.9 FIRST CHOICE
 8.10 MARUTI SUZUKI INDIA LTD.
 8.11 PENSKECARS (PENSKE AUTOMOTIVE GROUP)
 8.12 QUIKR
 8.13 MAHINDRA FIRST CHOICE
 8.14 GROUP 1 AUTOMOTIVE INC.
 8.15 ASBURY AUTOMOTIVE GROUP
 8.16 HENDRICK AUTOMOTIVE GROUP
 8.17 AUTONATION INC.
 8.18 LITHIA MOTOR INC.
 8.19 EBAY
 8.20 CARMAX BUSINESS SERVICES LLC.
 8.21 SCOUT24 AG
 8.22 COX AUTOMOTIVE
 8.23 SUN TOYOTA
 8.24 OTHER MAJOR PLAYERS

Chapter 9: Global Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 9.1 Market Overview
 9.2 Historic and Forecasted Market Size By Type
  9.2.1 Passenger Car
  9.2.2 Light Commercial Vehicle
  9.2.3 Heavy Commercial Vehicle
 9.3 Historic and Forecasted Market Size By Vehicle Age
  9.3.1 0-5
  9.3.2 6-10
  9.3.3 11-15
  9.3.4 15 Years & Above
 9.4 Historic and Forecasted Market Size By Fuel Type
  9.4.1 Petrol
  9.4.2 Diesel
  9.4.3 Natural Gas
  9.4.4 Others

Chapter 10: North America Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Passenger Car
  10.4.2 Light Commercial Vehicle
  10.4.3 Heavy Commercial Vehicle
 10.5 Historic and Forecasted Market Size By Vehicle Age
  10.5.1 0-5
  10.5.2 6-10
  10.5.3 11-15
  10.5.4 15 Years & Above
 10.6 Historic and Forecasted Market Size By Fuel Type
  10.6.1 Petrol
  10.6.2 Diesel
  10.6.3 Natural Gas
  10.6.4 Others
 10.7 Historic and Forecast Market Size by Country
  10.7.1 U.S.
  10.7.2 Canada
  10.7.3 Mexico

Chapter 11: Europe Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Passenger Car
  11.4.2 Light Commercial Vehicle
  11.4.3 Heavy Commercial Vehicle
 11.5 Historic and Forecasted Market Size By Vehicle Age
  11.5.1 0-5
  11.5.2 6-10
  11.5.3 11-15
  11.5.4 15 Years & Above
 11.6 Historic and Forecasted Market Size By Fuel Type
  11.6.1 Petrol
  11.6.2 Diesel
  11.6.3 Natural Gas
  11.6.4 Others
 11.7 Historic and Forecast Market Size by Country
  11.7.1 Germany
  11.7.2 U.K.
  11.7.3 France
  11.7.4 Italy
  11.7.5 Russia
  11.7.6 Spain
  11.7.7 Rest of Europe

Chapter 12: Asia-Pacific Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Passenger Car
  12.4.2 Light Commercial Vehicle
  12.4.3 Heavy Commercial Vehicle
 12.5 Historic and Forecasted Market Size By Vehicle Age
  12.5.1 0-5
  12.5.2 6-10
  12.5.3 11-15
  12.5.4 15 Years & Above
 12.6 Historic and Forecasted Market Size By Fuel Type
  12.6.1 Petrol
  12.6.2 Diesel
  12.6.3 Natural Gas
  12.6.4 Others
 12.7 Historic and Forecast Market Size by Country
  12.7.1 China
  12.7.2 India
  12.7.3 Japan
  12.7.4 Singapore
  12.7.5 Australia
  12.7.6 New Zealand
  12.7.7 Rest of APAC

Chapter 13: Middle East & Africa Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 Passenger Car
  13.4.2 Light Commercial Vehicle
  13.4.3 Heavy Commercial Vehicle
 13.5 Historic and Forecasted Market Size By Vehicle Age
  13.5.1 0-5
  13.5.2 6-10
  13.5.3 11-15
  13.5.4 15 Years & Above
 13.6 Historic and Forecasted Market Size By Fuel Type
  13.6.1 Petrol
  13.6.2 Diesel
  13.6.3 Natural Gas
  13.6.4 Others
 13.7 Historic and Forecast Market Size by Country
  13.7.1 Turkey
  13.7.2 Saudi Arabia
  13.7.3 Iran
  13.7.4 UAE
  13.7.5 Africa
  13.7.6 Rest of MEA

Chapter 14: South America Used Vehicle Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Type
  14.4.1 Passenger Car
  14.4.2 Light Commercial Vehicle
  14.4.3 Heavy Commercial Vehicle
 14.5 Historic and Forecasted Market Size By Vehicle Age
  14.5.1 0-5
  14.5.2 6-10
  14.5.3 11-15
  14.5.4 15 Years & Above
 14.6 Historic and Forecasted Market Size By Fuel Type
  14.6.1 Petrol
  14.6.2 Diesel
  14.6.3 Natural Gas
  14.6.4 Others
 14.7 Historic and Forecast Market Size by Country
  14.7.1 Brazil
  14.7.2 Argentina
  14.7.3 Rest of SA

Chapter 15 Investment Analysis

Chapter 16 Analyst Viewpoint and Conclusion

Global Used Vehicle Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 1057.96 Bn.

Forecast Period 2023-30 CAGR:

8.5%

Market Size in 2030:

USD 2031.93 Bn.

Segments Covered:

By Type

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Vehicle Age

  • 0-5
  • 6-10
  • 11-15
  • 15 Years & Above

By Fuel Type

  • Petrol
  • Diesel
  • Natural Gas
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Personal Mobility is in High Demand

Key Market Restraints:

  • Regularization is Lacking

Key Opportunities:

  • Technology Advancements Such as the Internet's Expansion

Companies Covered in the report:

  • Alibaba Group, Vroom, OLX, Cars24, Autotrader (Cox Automotive), TrueCar, and Other major players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. USED VEHICLE MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. USED VEHICLE MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. USED VEHICLE MARKET COMPETITIVE RIVALRY
TABLE 005. USED VEHICLE MARKET THREAT OF NEW ENTRANTS
TABLE 006. USED VEHICLE MARKET THREAT OF SUBSTITUTES
TABLE 007. USED VEHICLE MARKET BY TYPE
TABLE 008. PASSENGER CAR MARKET OVERVIEW (2016-2028)
TABLE 009. LIGHT COMMERCIAL VEHICLE MARKET OVERVIEW (2016-2028)
TABLE 010. HEAVY COMMERCIAL VEHICLE MARKET OVERVIEW (2016-2028)
TABLE 011. USED VEHICLE MARKET BY VEHICLE AGE
TABLE 012. 0-5 MARKET OVERVIEW (2016-2028)
TABLE 013. 6-10 MARKET OVERVIEW (2016-2028)
TABLE 014. 11-15 MARKET OVERVIEW (2016-2028)
TABLE 015. 15 YEARS & ABOVE MARKET OVERVIEW (2016-2028)
TABLE 016. USED VEHICLE MARKET BY FUEL TYPE
TABLE 017. PETROL MARKET OVERVIEW (2016-2028)
TABLE 018. DIESEL MARKET OVERVIEW (2016-2028)
TABLE 019. NATURAL GAS MARKET OVERVIEW (2016-2028)
TABLE 020. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 021. NORTH AMERICA USED VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 022. NORTH AMERICA USED VEHICLE MARKET, BY VEHICLE AGE (2016-2028)
TABLE 023. NORTH AMERICA USED VEHICLE MARKET, BY FUEL TYPE (2016-2028)
TABLE 024. N USED VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 025. EUROPE USED VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 026. EUROPE USED VEHICLE MARKET, BY VEHICLE AGE (2016-2028)
TABLE 027. EUROPE USED VEHICLE MARKET, BY FUEL TYPE (2016-2028)
TABLE 028. USED VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 029. ASIA PACIFIC USED VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 030. ASIA PACIFIC USED VEHICLE MARKET, BY VEHICLE AGE (2016-2028)
TABLE 031. ASIA PACIFIC USED VEHICLE MARKET, BY FUEL TYPE (2016-2028)
TABLE 032. USED VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 033. MIDDLE EAST & AFRICA USED VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 034. MIDDLE EAST & AFRICA USED VEHICLE MARKET, BY VEHICLE AGE (2016-2028)
TABLE 035. MIDDLE EAST & AFRICA USED VEHICLE MARKET, BY FUEL TYPE (2016-2028)
TABLE 036. USED VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 037. SOUTH AMERICA USED VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 038. SOUTH AMERICA USED VEHICLE MARKET, BY VEHICLE AGE (2016-2028)
TABLE 039. SOUTH AMERICA USED VEHICLE MARKET, BY FUEL TYPE (2016-2028)
TABLE 040. USED VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 041. ALIBABA GROUP: SNAPSHOT
TABLE 042. ALIBABA GROUP: BUSINESS PERFORMANCE
TABLE 043. ALIBABA GROUP: PRODUCT PORTFOLIO
TABLE 044. ALIBABA GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 044. VROOM: SNAPSHOT
TABLE 045. VROOM: BUSINESS PERFORMANCE
TABLE 046. VROOM: PRODUCT PORTFOLIO
TABLE 047. VROOM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 047. OLX: SNAPSHOT
TABLE 048. OLX: BUSINESS PERFORMANCE
TABLE 049. OLX: PRODUCT PORTFOLIO
TABLE 050. OLX: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 050. CARS24: SNAPSHOT
TABLE 051. CARS24: BUSINESS PERFORMANCE
TABLE 052. CARS24: PRODUCT PORTFOLIO
TABLE 053. CARS24: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 053. AUTOTRADER (COX AUTOMOTIVE): SNAPSHOT
TABLE 054. AUTOTRADER (COX AUTOMOTIVE): BUSINESS PERFORMANCE
TABLE 055. AUTOTRADER (COX AUTOMOTIVE): PRODUCT PORTFOLIO
TABLE 056. AUTOTRADER (COX AUTOMOTIVE): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 056. TRUECAR: SNAPSHOT
TABLE 057. TRUECAR: BUSINESS PERFORMANCE
TABLE 058. TRUECAR: PRODUCT PORTFOLIO
TABLE 059. TRUECAR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 059. TRUEVALUE: SNAPSHOT
TABLE 060. TRUEVALUE: BUSINESS PERFORMANCE
TABLE 061. TRUEVALUE: PRODUCT PORTFOLIO
TABLE 062. TRUEVALUE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 062. FIRST CHOICE: SNAPSHOT
TABLE 063. FIRST CHOICE: BUSINESS PERFORMANCE
TABLE 064. FIRST CHOICE: PRODUCT PORTFOLIO
TABLE 065. FIRST CHOICE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 065. MARUTI SUZUKI INDIA LTD.: SNAPSHOT
TABLE 066. MARUTI SUZUKI INDIA LTD.: BUSINESS PERFORMANCE
TABLE 067. MARUTI SUZUKI INDIA LTD.: PRODUCT PORTFOLIO
TABLE 068. MARUTI SUZUKI INDIA LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 068. PENSKECARS (PENSKE AUTOMOTIVE GROUP): SNAPSHOT
TABLE 069. PENSKECARS (PENSKE AUTOMOTIVE GROUP): BUSINESS PERFORMANCE
TABLE 070. PENSKECARS (PENSKE AUTOMOTIVE GROUP): PRODUCT PORTFOLIO
TABLE 071. PENSKECARS (PENSKE AUTOMOTIVE GROUP): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 071. QUIKR: SNAPSHOT
TABLE 072. QUIKR: BUSINESS PERFORMANCE
TABLE 073. QUIKR: PRODUCT PORTFOLIO
TABLE 074. QUIKR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 074. MAHINDRA FIRST CHOICE: SNAPSHOT
TABLE 075. MAHINDRA FIRST CHOICE: BUSINESS PERFORMANCE
TABLE 076. MAHINDRA FIRST CHOICE: PRODUCT PORTFOLIO
TABLE 077. MAHINDRA FIRST CHOICE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 077. GROUP 1 AUTOMOTIVE INC.: SNAPSHOT
TABLE 078. GROUP 1 AUTOMOTIVE INC.: BUSINESS PERFORMANCE
TABLE 079. GROUP 1 AUTOMOTIVE INC.: PRODUCT PORTFOLIO
TABLE 080. GROUP 1 AUTOMOTIVE INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 080. ASBURY AUTOMOTIVE GROUP: SNAPSHOT
TABLE 081. ASBURY AUTOMOTIVE GROUP: BUSINESS PERFORMANCE
TABLE 082. ASBURY AUTOMOTIVE GROUP: PRODUCT PORTFOLIO
TABLE 083. ASBURY AUTOMOTIVE GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 083. HENDRICK AUTOMOTIVE GROUP: SNAPSHOT
TABLE 084. HENDRICK AUTOMOTIVE GROUP: BUSINESS PERFORMANCE
TABLE 085. HENDRICK AUTOMOTIVE GROUP: PRODUCT PORTFOLIO
TABLE 086. HENDRICK AUTOMOTIVE GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 086. AUTONATION INC.: SNAPSHOT
TABLE 087. AUTONATION INC.: BUSINESS PERFORMANCE
TABLE 088. AUTONATION INC.: PRODUCT PORTFOLIO
TABLE 089. AUTONATION INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 089. LITHIA MOTOR INC.: SNAPSHOT
TABLE 090. LITHIA MOTOR INC.: BUSINESS PERFORMANCE
TABLE 091. LITHIA MOTOR INC.: PRODUCT PORTFOLIO
TABLE 092. LITHIA MOTOR INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 092. EBAY: SNAPSHOT
TABLE 093. EBAY: BUSINESS PERFORMANCE
TABLE 094. EBAY: PRODUCT PORTFOLIO
TABLE 095. EBAY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 095. CARMAX BUSINESS SERVICES LLC.: SNAPSHOT
TABLE 096. CARMAX BUSINESS SERVICES LLC.: BUSINESS PERFORMANCE
TABLE 097. CARMAX BUSINESS SERVICES LLC.: PRODUCT PORTFOLIO
TABLE 098. CARMAX BUSINESS SERVICES LLC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 098. SCOUT24 AG: SNAPSHOT
TABLE 099. SCOUT24 AG: BUSINESS PERFORMANCE
TABLE 100. SCOUT24 AG: PRODUCT PORTFOLIO
TABLE 101. SCOUT24 AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 101. COX AUTOMOTIVE: SNAPSHOT
TABLE 102. COX AUTOMOTIVE: BUSINESS PERFORMANCE
TABLE 103. COX AUTOMOTIVE: PRODUCT PORTFOLIO
TABLE 104. COX AUTOMOTIVE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 104. SUN TOYOTA: SNAPSHOT
TABLE 105. SUN TOYOTA: BUSINESS PERFORMANCE
TABLE 106. SUN TOYOTA: PRODUCT PORTFOLIO
TABLE 107. SUN TOYOTA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 107. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 108. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 109. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 110. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. USED VEHICLE MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. USED VEHICLE MARKET OVERVIEW BY TYPE
FIGURE 012. PASSENGER CAR MARKET OVERVIEW (2016-2028)
FIGURE 013. LIGHT COMMERCIAL VEHICLE MARKET OVERVIEW (2016-2028)
FIGURE 014. HEAVY COMMERCIAL VEHICLE MARKET OVERVIEW (2016-2028)
FIGURE 015. USED VEHICLE MARKET OVERVIEW BY VEHICLE AGE
FIGURE 016. 0-5 MARKET OVERVIEW (2016-2028)
FIGURE 017. 6-10 MARKET OVERVIEW (2016-2028)
FIGURE 018. 11-15 MARKET OVERVIEW (2016-2028)
FIGURE 019. 15 YEARS & ABOVE MARKET OVERVIEW (2016-2028)
FIGURE 020. USED VEHICLE MARKET OVERVIEW BY FUEL TYPE
FIGURE 021. PETROL MARKET OVERVIEW (2016-2028)
FIGURE 022. DIESEL MARKET OVERVIEW (2016-2028)
FIGURE 023. NATURAL GAS MARKET OVERVIEW (2016-2028)
FIGURE 024. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 025. NORTH AMERICA USED VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 026. EUROPE USED VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 027. ASIA PACIFIC USED VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 028. MIDDLE EAST & AFRICA USED VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 029. SOUTH AMERICA USED VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)

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Frequently Asked Questions :

What would be the forecast period in the Used Vehicle Market research report?

The forecast period in the Used Vehicle Market research report is 2023-2030.

Who are the key players in Used Vehicle Market?

Alibaba Group, Vroom, OLX, Cars24, Autotrader (Cox Automotive), TrueCar, Truevalue, First choice, Maruti Suzuki India Ltd., PenskeCars (Penske Automotive Group), Quikr, Mahindra First Choice, Group 1 Automotive Inc., Asbury Automotive Group, Hendrick Automotive Group, AutoNation Inc., LITHIA Motor Inc., eBay, CarMax Business Services LLC., Scout24 AG, Cox Automotive, Sun Toyota, and other major players.

What are the segments of the Used Vehicle Market?

The Used Vehicle Market is segmented into Type, Vehicle Age, Fuel Type, and region. By Type, the market is categorized into Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle. By Vehicle Age, the market is categorized into 0-5, 6-10, 11-15, 15 Years & Above. By Fuel Type, the market is categorized into Petrol, Diesel, Natural Gas, Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Used Vehicle Market?

A used car, a pre-owned vehicle, or a second-hand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.

How big is the Used Vehicle Market?

The Global Used Vehicle Market size is expected to grow from USD 1057.96 billion in 2022 to USD 2031.93 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).