Used Cars Market Forecast 2023 - 2032 : By Industry Analysis, Size, Share, Major Players Are - TrueCar, Inc., Pendragon PLC, Lithia Motors, Inc., AutoNation, Quikr

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per the Used Cars market report by The Business Research Company, The emergence of online platforms for used car sales globally is significantly driving the growth of the used cars market. The online platforms provide ease of access and required information to buy and sell used cars. The key players are expanding their business digitally to increase the sales of used cars.

The global used cars market size grew from $1243.34 billion in 2022 to $1339.73 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The used cars market size is expected to grow to $1899.97 billion in 2027 at a CAGR of 9.1%.

Read More On The Used Cars Market Report Here:
https://www.thebusinessresearchcompany.com/report/used-cars-global-market-report

Major competitors in the Used Cars market include Hendrick Automotive Group, Group 1 Automotive, Inc., Cox Automotive, Asbury Automotive Group, Inc., CarMax Business Services LLC, TrueCar, Inc., Pendragon PLC, Lithia Motors, Inc., The Hertz Corporation, AutoNation, Quikr, Honda Auto Terrace, Toyota U-Trust, Vroom, OLX, Cars24 services private limited, Big Boy Toyz Ltd., Alibaba.com, Scout24 AG.

The Used Cars market is segmented -
By Vehicle Type: Light-Duty Vehicle (LDV), Heavy-Duty Vehicle (HDV)

By Technology: OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, Black-Box-Based UBI Programs

By Package Type: Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD), Manage-How-You-Drive (MHYD)

By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Used Cars market.

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The usage-based insurance is frequently powered by telematics technology, which is accessible in vehicles via a plug-in device or is pre-installed in the car's system, and that can also be accessed via mobile apps and delivers insurers with a variety of data, including how far the vehicle is driven, how it's driven, and where it's driven. The usage-based insurance provides auto insurance services by placing monitoring devices in the vehicle.

The Table Of Content For The Used Cars Market Include:
1. Executive Summary
2. Used Cars Market Characteristics
3. Used Cars Market Trends And Strategies
4. Used Cars Market - Macro Economic Scenario
5. Used Cars Market Size And Growth
……
26. Africa Used Cars Market
27. Used Cars Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Used Cars Market
29. Used Cars Market Future Outlook and Potential Analysis
30. Appendix

The "Global Used Cars Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.

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