openPR Logo
Press release

Used Cars Market Next Big Thing to Rise at $1,355.15 billion by 2027 | Prominent Companies: Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited, Group1 Automotive Inc

05-17-2021 03:06 PM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

Used Cars Market Next Big Thing to Rise at $1,355.15 billion

Used Cars Market by distribution channel, the others segment is dominating the market in terms of revenue. In addition, by fuel type, the petrol segment dominated the used cars market in 2019. Region-wise, Asia-Pacific is anticipated to be the highest revenue contributor, and is expected to lead in the future, followed by LAMEA and North America.

Download Report (266 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/6794

According to a recent report published by Allied Market Research, titled, “Used cars Market by Vehicle Type, Fuel Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020–2027”,

The global used cars market was valued at $828.24 billion in 2019, and is projected to reach $1,355.15 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027. By vehicle type, the SUV segment was the highest revenue contributor in 2019, accounting for $338.61 billion, and is estimated to reach $533.39 billion by 2027, registering a CAGR of 7.80% during the forecast period. In 2019, Asia-Pacific was anticipated to account for the major market share.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6794

The Asia-Pacific region is dominating the market in term of revenue, followed by LAMEA, North America, and Europe. In Asia-Pacific, China dominated the used cars market in 2019, whereas South Korea is expected to grow at a significant rate during the forecast period.

Used car is a vehicle that has been used previously or owned by one or more owners. It is also known as the pre-owned vehicle or secondhand car. Used cars are sold at various outlets such as franchise and independent car dealers, rental car companies, auctions, private party sales, and leasing offices. Used cars retailer’s offer cars in various categories to their customers. These include Affordable cars, Certified pre-owned cars, and used cars with extended service plans. In addition, used cars retailers also provide option for online buying and customers and can also use retailer portals to get the information of used cars.

Moreover, used cars retailers not only deal in business to customers (B2C) but they also offer business to business (B2B) service where they sell used cars to various industries such as car sharing service providers, tours, and traveling companies, and other industries.

Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/6794

COVID-19 impact analysis
• The economic slowdown across the globe has affected the consumer and has decreased the sales of cars. People across the globe are avoiding public transport due to the risk of infection and to maintain social distancing.
• The used cars market has seen a rise in sales due to affordability. This is attributed to COVID-19 pandemic, which has decreased the disposable income, created shortage of money, and has increased the preference for private cars to maintain social distancing.
• There is an increase in the demand for online used cars buying as compared to the pre-pandemic online used cars market scenario attributed to lockdown due to COVID-19 pandemic.

The factors that drive the global used cars market include increase in disposable income, rise in demand for luxury cars, shorter car ownership periods, boom in import-export, and growth in preference of two-wheeler owners to upgrade to small and compact cars.

However, unorganized used cars sales and lack of regularization hamper the growth of the global market. Moreover, advent of e-commerce & online technologies, steady increase in organized/semi organized sales in emerging countries, and surge in electric vehicle business across the globe are the factors anticipated to boost the sales of used cars in the market during the forecast period.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/6794

The used cars market is segmented the basis of on vehicle type, fuel type, distribution channel, and region. On the basis of vehicle type, itis divided into hatchback, sedan, and SUV. On the basis of fuel type, it is classified into petrol, diesel, and others. On the basis of distribution channel, it is fragmented into franchised dealer, independent dealer, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings Of The Study
• By vehicle type, the SUV segment generated the highest revenue in 2019.
• By fuel type, the petrol segment was the highest revenue contributor in 2019.
• By distribution channel, the others segment was the highest revenue contributor in 2019.
• By region, Asia-Pacific contributed the highest revenue, followed by LAMEA, North America, and Europe in 2019.

The key players operating in the used cars market include Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited, Group1 Automotive Inc., Hendrick automotive group, Lithia Motors, Inc., Mahindra First Choice Wheels Ltd. and TrueCar, Inc.

Browse Complete Report at https://www.alliedmarketresearch.com/used-cars-market-A06429

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Used Cars Market Next Big Thing to Rise at $1,355.15 billion by 2027 | Prominent Companies: Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited, Group1 Automotive Inc here

News-ID: 2285480 • Views: 754

More Releases from Allied Market Research

Fantasy Sports Market in Asia-Pacific & Canada is Expected to Reach $3,739.8 Mil …
According to a new report published by Allied Market Research, titled, “Asia-Pacific & Canada Fantasy Sports Market by Sports Type, Platform, and Demographic: Regional Opportunity Analysis and Industry Forecast, 2021–2027,” Asia-Pacific & Canada fantasy sports market size was valued at $2,021.9 million in 2019, and is projected to reach $3,739.8 million by 2027, growing at a CAGR of 10.7% from 2021 to 2027. Fantasy sport is played using internet where participants
Hammock Market Size Is Projected Reach $639.8 Million By 2030, Registering At A …
Surge in hiking and adventure tourism, rise in demand from residential segment, and expansion of hospitality industry drive the growth of the global hammock market. North America contributed to the highest share in terms of revenue in 2020. The outbreak of the COVID-19 pandemic has resulted in transition of consumers toward online sales channels to purchase campaigning gear products including hammocks. According to the report published by Allied Market Research, the
Cotton Personal-Care Product Market 2021: Top Factors That Are Leading The Deman …
A lead analyst at AMR highlighted the market across Europe region is expected to dominate in terms of revenues throughout the forecast period. Allied Market Research published a research report on the Cotton personal-care product market. The findings of the report states that the global market for Cotton personal-care product is expected to reach $19.15 billion by 2028, manifesting a CAGR of 4.6% from 2020 to 2028. The report provides valuable
Global Football Sportswear Market Growing Trade Among Emerging Economies Opening …
As per the report published by Allied Market Research, the global football sportswear market is estimated to reach $114.41 billion by 2027, growing at a CAGR of 5.3% from 2021 to 2027. The report highlights market characteristics, market potential, and growth by segmentation, and competitive landscape. Rise in sportswomen, surge in participation in football, and development in sportswear drive the growth of the global football sportswear market. Access Full Summary: https://www.alliedmarketresearch.com/football-sportswear-market-A09835 Chinese companies

All 5 Releases


More Releases for Cars

KDPOF Equips Electric Cars with Optical Connectivity
KDPOF – leading supplier for automotive gigabit connectivity over POF (Plastic Optical Fiber) – provide their innovative Automotive Gigabit Ethernet POF (GEPOF) for electric and autonomous driving to perfectly solve the electrical challenges and interferences of new powertrain architectures. "We are happy to announce that several car makers and Tier-1 suppliers have adopted our optical technology for electrical powertrains and autonomous vehicles," stated Carlos Pardo, CEO and Co-Founder of KDPOF.
New Cars Global Industry Guide 2017
Global New Cars industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the global new cars market. Includes market size data, textual and graphical analysis of market growth trends
Europe Connected Cars Market Report 2014-2020
Connected cars are considered to be the future of automobile industry. In addition to wireless LAN devices, connected cars have active safety solutions and automated driver assistance systems. Enabling car owners to connect with all the connectivity devices that are inside and in the vicinity of cars, connected cars also assure to maintain safe distance between cars on roads. These cars also allow drivers to mechanically monitor cars’ performance and physical
Europe Connected Cars Market Report 2014-2020
Connected cars are considered to be the future of automobile industry. In addition to wireless LAN devices, connected cars have active safety solutions and automated driver assistance systems. Enabling car owners to connect with all the connectivity devices that are inside and in the vicinity of cars, connected cars also assure to maintain safe distance between cars on roads. These cars also allow drivers to mechanically monitor cars’ performance and physical
Electric cars in action
Small and medium-sized companies sharing fleets of electric vehicles Imagine a number of different companies sharing a single fleet of electric vehicles... Fraunhofer IAO and eight project partners are busy working out just how to make this vision a reality. Funded by the German Federal Ministry of Economics and Technology, the Shared E-Fleet research project aims not only to work up suitable IT solutions, but also to design the smart energy
Kids Cars UK get Gooey
Ride on toy specialist Kids Car UK has launched a new website developed by Gooey Creative. Manchester-based Gooey was originally appointed to work with Kids Cars UK on the firm's digital strategy, however was consequently asked to develop the new ecommerce site which has an emphasis on useability and customer acquisition. Stacy Parr, e-commerce manager at Kids Cars UK said: "The new site is much more customer focused and functional led rather