USA Used Car Market Research Report to 2026: Ken Research

How is the used car Market Positioned in USA?

Market Overview:

The Used Car Market in USA has seen constant growth over the years supported by the increase in millennials population in the country along with the entry of emergent players into the market. The rising trend in used car over new cars indicates the buyer preference of purchasing used cars. Factors as fast increasing disposable income per household, greater supply in the market, and a move towards organized and transparent trade will drive the used-car market. Growth is further supported by manufacturer's investments in expanding the network of used cars dealers, building the brand and enabling customers to choose this option.

Majority of customers prefer used cars of average age, with more kilometers driven as used car at that segment offers attractive and affordable options with SUV's and Pickup Trucks being the major choice by type of car. Car dealers are emphasizing on providing integrated user-friendly platforms to ease the buyer's journey of used cars. These trends and developments are changing the used car industry on a positive note with promising future growth.

The Used Car Market in USA are segmented on the basis of total number of used car units sold with a CAGR of ~% over the period 2016-2021 with total revenue generated ~% in USD Bn.

USA Used Car Market

USA Used Car Market has grown at an increasing growth rate over the period 2016-2021 with ~% CAGR, supported by the opportunities like digital transformation, growing trend of upgrading vehicles and more.

USA Used Car Market Segmentation

By Market Structure: The Organized Car market structure has dominated the USA Used market owing to the promising value-added services like warranty, certification; convenient buying experience and more.

By Organized Sector

In the Organized sector, Multi-Brand Franchised conquers the market, being the most popular type of player in USA, as they have more corpus to purchase inventory, and further sell it off to the consumers as they deal with both new and used cars.

By Unorganized Sector

In the Unorganized sector, C2C transactions constitute the major proportion of the market due to the strong preference to less-aged cars and popular brands with good resale value which attracts consumers.

By Type of Car

SUV car type are majorly preferred due to versatility and cargo space. Additionally, lesser price, higher grade of comfort, bigger trunk space, and more have all aided the SUV's demand.

By Type of Transmission 

The market is overpowered by the Automatic Transmission as most of the Americans prefer automatics owing to the greater utilitarian cars and convenience of not having to shift gears. Moreover, it allows people to fiddle with their phones, search for music, or look at their GPS.

By Type of Fuel

The USA Used car market by Type of Fuel is dominated by Petrol fuel as cars operating on petrol are chosen considering factors like petrol engines are cheaper to repair, higher engine power and are more responsive compared to diesel fuel. They can easily be converted into CNG if desired.

By Private and Commercial

Private Vehicles overpower the market due to factors like rapid economic changes where middle-class customers are experiencing faster growth in income and are spending more on automobiles as Americans usually prefer to have a private vehicle for various purposes

By Miles Driven:

Consumers prefer used cars in good condition with average kms driven between 100,000-200,000 Miles as vehicles that has higher mileage are most-likely to be costlier than a similar vehicle with fewer miles.

By Age of the Car:

The market by Age of car is conquered by 10+ year's old car where the average life of a car which has been witnessed in the country is 12.1 years, with an average run of 10,567 miles/year.

By Region wise Dealerships:

South region of USA dominates the market due to the highest number of registered vehicles along with presence of large number of dealerships & used car exchanges in this region.

By Brand:

Toyota Brand leads the market with the highest sale volume due to its high resale value and moderate maintenance of the car.

Competition Landscape in USA used car Market

The USA used car market is moderately fragmented market with presence of multiple players in the industry.  Top 3 players namely CarMax, True Car and Carvana together dominate the market share. Key competitive parameters include number of listings, brand availability, financing options, locations covered, value added services, warranty period, and commission charged.

USA used car market Future Outlook and Projections

The USA Used Car Market is expected to grow at ~% CAGR on the basis of Revenue and ~% on the basis of Sales Volume in Units. Efforts to transform the industry into a more organized one by players is expected to positively impact the sales. With the market at rebound stage, factors such as attractive pricing, easy financing option, digital advancement, use of advanced technologies such as AI to valuate car online by looking at the pictures only, 360-degree view of the interiors of the car and more are to enhance digital experience of consumers will drive the used car market in the near future.

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USA Used Car Key Segmentation Covered:-

By Market Structure

Organized Sector

Unorganized Sector

Organized Sector

Multi-Brand Non-Franchise

Online e-Commerce Local Dealers

OEM Certified

Unorganized Sector

C2C Transactions

Auction (B2C)

Local Dealerships

By Type of Car

SUV

Pickup Truck

Hatchback

Sedan

Luxury

Others

By Type of Transmission

Manual Transmission

Automatic Transmission

By Type of Fuel

Petrol

Diesel

Others

By Private or Commercial

Private

Commercial

By Miles Driven

20,000- 45,000 Miles

45,000-100,000 Miles

100,000-200,000 Miles

Above 200,000 Miles

By Age of the Car

0-2 Years

2-5 Years

5-10 Years

More than 10 Years

By Region-wise Dealerships

South

West

Mid-West

North East

By Brand

Toyota

GM

Ford

Stellantis

Hyundai-Kia

Honda

Nissan

Volkswagen

Others

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Key Target Audience:-

Used Car Companies

OEMs

Multi-Brands

Online Used Car Portals

Used Car Financing Companies

Government Bodies

Investors & Venture Capital Firms

Used Car Dealerships

Used Car Industry

Used Car Manufacturing Companies

Used Car Distributors

Used Car Auction Houses

Used Car Associations

Time Period Captured in the Report:-

Historical Year: 2016-2020

Base Year: 2021

Forecast Period: 2022-2026F

Companies Covered:

Major Franchised- Multi-Brands

EnterPrise Car Sales

Penske Automotive Group Inc.

Hertz Car Sales

North West Motor Sport

Asbury Automotive

AutoNation Inc.

STG Auto Group

Group 1 Automotive Inc

CarSoup

Sonic Automotive - Echopark

Avis Budget Car Sales

Major Marketplace Companies

Cars.com

TrueCar

CarGurus

Major Auction Market Players

Manheim

Greater Rockford Auction Group

ServNet

Copart Inc.

McConkey Auction

KAR Auction Services

ACV Auctions

Auto Auction Mall

Major Online E-Commerce Platform

CarMax

Carvana

Vroom

Shift Technologies

Key Topics Covered in the Report:-

USA Automotive Market Overview

USA Used Car Market Overview

USA Used Car Auction Market

USA Used Car Finance Market

USA Online E-commerce Used Car Market

Market Ecosystem

Value chain Analysis

Customer Buying Journey in USA

Decision Making Parameters for Customers

Offline and Online Business Models

Detailed Analysis on USA Used Car Market (Market Size, 2021; Market Segmentations, 2021; Competition Analysis; Future Market Size and Segmentations, 2026F; Future Trends and Way Forward

Snapshot on Online Used Car Platforms in USA

Snapshot of Used Car Auction House in USA

Snapshot of Finance Market in USA

Business Opportunity (Customer Profile Analysis)

Analyst Recommendations

For more information on the research report, refer to below link:-

USA Used Car Market: Ken Research

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