Global Used Car Market

A used car, also known as a pre-owned car, is a vehicle that has had one or more previous owners. It may have mileage, wear and tear and various maintenance needs, depending on its specific history. New cars are becoming increasingly expensive, especially with the addition of advanced technology features. This has made used cars a more affordable and attractive option. According to the latest estimates, the global used car market size is expected to increase from USD 1,552.2 billion in 2022 to USD 2,324.7 billion by 2029, garnering a CAGR of 5.94% over the evaluated period.

This industry report offers market estimates of the global market, followed by a detailed analysis of the vehicle type, vendor type, fuel type, size, sales channel, and region. The global market data on used car can be segmented by vehicle type: conventional, electric, hybrid. Among these, the conventional segment was accounted for the highest revenue generator in 2022. Used car market is further segmented by vendor type: organized, unorganized. The organized segment is estimated to account for the largest share of the global used car market. Based on fuel type, the used car market is segmented into: diesel, petrol, others. The petrol segment held the largest share of the global used car market in 2022 and is anticipated to hold its share during the forecast period. On the basis of size, the used car market also can be divided into: compact, mid-sized, SUV. In 2022, the SUV segment made up the largest share of revenue generated by the used car market. Used car market by sales channel is categorized into: offline, online. Among these, the offline segment was accounted for the highest revenue generator in 2022. The used car market by region can be segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific is estimated to account for the largest share of the global used car market.

The global used car market is highly competitive. Top players covered in Global Used Car Market Study are Alibaba Group Holding Limited, Asbury Automotive Group Inc., AutoNation Inc., Beijing Shanyi Shanmei Technology Co. Ltd. dba RenRenChe, CarGurus Inc., CarMax Inc., Cox Automotive Inc., eBay Inc., Group 1 Automotive Inc., Guazi.com Inc., Hangzhou Dasouche Auto Service Co. Ltd., Lithia Motors Inc., Mahindra First Choice Wheels Ltd., Scout24 SE, TrueCar Inc.

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Global Used Car Market

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Global Used Car Market - Report Scope
REPORT ATTRIBUTE

DETAILS

Base Year

2022

Forecast Year

2023-2029

CAGR (2023-2029)

5.94%

Pages

26

Key Players

Alibaba Group Holding Limited, Asbury Automotive Group Inc., AutoNation Inc., Beijing Shanyi Shanmei Technology Co. Ltd. dba RenRenChe, CarGurus Inc., CarMax Inc., Cox Automotive Inc., eBay Inc., Group 1 Automotive Inc., Guazi.com Inc., Hangzhou Dasouche Auto Service Co. Ltd., Lithia Motors Inc., Mahindra First Choice Wheels Ltd., Scout24 SE, TrueCar Inc.

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