Driving into the Future: Evolve Business Intelligence Study Forecasts Online Car Buying Market to Exceed USD 600 Billion by 2033

As per the study initiated by Evolve Business Intelligence, the global Online Car Buying Market size accounted for USD 237.93 Billion in 2022, growing at a CAGR of 12.2% from 2023 to 2033. Online car buying is the process of purchasing a vehicle entirely over the Internet. It involves using various online platforms, such as dealer websites, online marketplaces, or third-party services, to search and compare vehicles, get quotes, negotiate prices, and complete the transaction process. Online car buying eliminates the need for in-person visits to dealerships or private sellers and allows customers to shop for cars from the comfort of their homes. The process typically involves researching the vehicle's features, specifications, and history, arranging for financing or lease options, and coordinating delivery or pickup of the vehicle. Online car buying has become increasingly popular in recent years, driven by the growing number of digital tools and services available and the convenience and time-saving benefits it offers.
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Key Highlights:
• The global Online Car Buying Market size was valued at USD 237.93 billion in 2022 growing at a CAGR of 12.2% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on the Global Online Car Buying Market focusing on various aspects including market size and forecast, market dynamics, competitors' market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which include Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted to prosper in this industry over the short and long terms. The quantitative analysis includes our authentic findings of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the Online Car Buying Market report also includes the following data points:
• COVID19 Impact on Online Car Buying Market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Online Car Buying Market
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Key Players
Some of the major Online Car Buying Market players holding high market shares include Asbury Automotive Group Inc, AutoNation Inc, Cargurus Inc, and CarsDirect. These players use partnership and collaboration as key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Asbury Automotive Group Inc.
• AutoNation Inc.
• Cargurus Inc.
• CarsDirect
• Cars.com Inc.
• Cox Automotive Inc
• Group1 Automotive Inc.
• Hendrick automotive group
• Lithia Motors Inc
• TrueCar Inc
Segmental Analysis
Market Segment By Vehicle Type with focus on Market share, consumption trend, and growth rate of Online Car Buying Market:
o Hatchback
o Sedan
o SUV
Market Segment By Category with focus on market share, consumption trend, and growth rate of Online Car Buying Market:
o Pre-Owned Vehicle
o New Vehicle
Parameters Details
Market Size (2022) USD 237.93 Billion
CAGR (2023 to 2033) 12.2%
Market Segmentation Vehicle Type, Category
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Online Car Buying Market Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
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