Global Used Vehicle market is growing at a double digit CAGR in 2017-2022 and is expected to reach USD 2.5 Tn by 2027 - Ken Research

What is the Size of Global Used Vehicle Industry?

The Global Used Vehicle Market is largely driven by Inflation, High price of new vehicles, Availability of used vehicles at lower prices are major factors contributing towards development of Global Used Vehicle Market.

The Global Used Vehicle market is moderately fragmented with multiple dealers (both organized and unorganized) operating in the industry. Majority of the used vehicles are sourced from vehicle-rental/ leasing companies & auctions. Direct buying from consumers or individual sellers is another major source.

The share of organized sector is more than unorganized sector in global used vehicle market due to higher preference and trust on organized players in the market.

People prefer vehicles that are around five years old as they are less likely to need expensive replacements at this age.

With the rise in preference for online retailing, the online segment is expected to witness significant growth, however, a large number of customers prefer offline stores while purchasing used vehicles to ensure and check the vehicle physically. Therefore, the offline segment of the market is anticipated to dominate the market during the forecast period.

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Global Used Vehicle Market By Type Of Market Structure

The Global Used Vehicle market is segmented by Type of Market Structure into Organized Channel, Unorganized Channel, OEM Certified Franchise Dealers, Multi Brand Dealers and Others. Unorganized channel was preferred by consumers globally.

Global Used Vehicle Market by Type Of Vehicle

The Global Used Vehicle market is segmented By Type of Vehicle into Cars, Bikes, Trucks, Buses, Bicycles and Others. Cars was the most dominant among others followed by Bikes in 2022.

Global Used Vehicle Market By By Age Of Vehicle

The Global Used Vehicle market is segmented by Age of Vehicle into 0-2 years, 2-4 years, 4-6 years, 6-8 years, 8-10 years and more than 10 years. 2-4 years was the most preferred age of vehicle in 2022 in Global Used Vehicle market.

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Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Used Vehicle Dealers
Used Vehicle Equipment Manufacturers and Distributors
Auto Portals
Online Dealers
Vehicle Showrooms
Unauthorized Dealers
Market Research and Consulting Firms
Automotive Companies
Vehicle manufacturing Companies
Tourism Agencies
Government Bodies & Regulating Authorities

Time Period Captured in the Report

Historical Period: 2017-2022
Base Period: 2022
Forecast Period: 2022-2027

Companies

Major Players Mentioned in the Report

Leading companies

TrueVehicle, Inc
Lithia Motors, Inc.
Group 1 Automotive, Inc.
THE HERTZ CORPORATION
Pendragon PLC
Asbury Automotive Group, Inc.
AutoNation, Inc
VehicleMax Business Services LLC
Cox Automotive
Hendrick Automotive Group.
Batfa Japan Inc.
India Kawasaki Motors Pvt. Ltd.
Droom, Motorbikes 4 All
Triumph Motorcycles
Yamaha Certified Pre-Owned
Motohunt Inc.
Blade Motorcycles
Mundimoto Europe SL

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This release was published on openPR.