Press release
Beyond the New: Exploring the Allure of Pre-Owned Vehicles | Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited
Allied Market Research published a report, titled, "Used Cars Market by Vehicle Type (Hatchback, Sedan, and SUV), Fuel Type (Petrol, Diesel, and Others), and Distribution Channel (Franchised Dealer, Independent Dealer, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global used cars industry generated $828.24 billion in 2019, and is expected to garner $1,355.15 billion by 2027, witnessing a CAGR of 8.3% from 2020 to 2027.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ (266 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ https://www.alliedmarketresearch.com/request-sample/6794
Drivers, restraints, and opportunities
Increase in demand for off-lease cars and subscription service by the franchise, leasing offices, & car dealers and high prices of new vehicle process and affordability concerns drive the growth of the global used cars market. However, unorganized second hand car sales and lack of regularization hinders the market growth. On the other hand, advent of e-commerce and online technologies, demand for car sharing services, and steady increase in organized/semi-organized sales in emerging countries present new opportunities in the coming years.
Covid-19 Scenario
The automotive industry has been one of the major victims of Covid-19 outbreak. Along with a huge fall in demand, the industry has undergone numerous issues including suspension of manufacturing activities and ban on imports and exports.
The used cars industry, on the other hand, has witnessed significant demand, owing to fall in income and increased preference to get private cars in order to maintain social distancing measures.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ- https://www.alliedmarketresearch.com/used-cars-market/purchase-options
The SUV segment to maintain its dominant share in terms of revenue by 2027
Based on vehicle type, the SUV segment contributed to the highest share in 2019, accounting for around two-fifths of the global used cars market, and is projected to maintain its dominant share in terms of revenue during the forecast period. This is due to higher ground clearance, easy entry & exit, high engine power, off-road capabilities, improved visibility, and better safety. However, the sedan segment is estimated to witness the highest CAGR of 8.80% from 2020 to 2027, owing to comfort, better ride experience in the city, higher boot space, lower weight, better speed, and fuel economy.
The petrol segment to maintain its leadership status throughout the forecast period
Based on fuel type, the petrol segment accounted for the highest share, holding nearly half of the global used cars market in 2019, and will maintain its leadership status throughout the forecast period. This is due to low price, less engine noise compared to diesel, and higher availability in the market. However, the other segment is projected to manifest the largest CAGR of 10.0% from 2020 to 2027. This is attributed to increasing emission norms, increasing government subsidies and policies, and transformation towards green mobility.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐ก๐ ๐๐๐ญ๐? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ก๐๐ซ๐ ๐๐ญ https://www.alliedmarketresearch.com/purchase-enquiry/6794
Asia-Pacific to maintain its lead position by 2027, North America to grow at a significant pace-
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2019, accounting for around two-fifths of the global used cars market, and will maintain its lead position by 2027. This region is also projected to portray the fastest CAGR of 9.20% during the forecast period, owing to the highest number of customers available in this region. On the other hand, the market across North America is expected to manifest the CAGR of 7.60% by 2027.
Leading market players
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.
TrueCar, Inc.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
Used Bike Market- https://www.alliedmarketresearch.com/used-bike-market-A09641
Used Truck Market- https://www.alliedmarketresearch.com/used-truck-market-A10181
Truck Rental and Leasing Market- https://www.alliedmarketresearch.com/truck-rental-and-leasing-market
Car Leasing Market- https://www.alliedmarketresearch.com/car-leasing-market-A10053
Car Subscription Market- https://www.alliedmarketresearch.com/car-subscription-market-A10188
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
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: http://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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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 Beyond the New: Exploring the Allure of Pre-Owned Vehicles | Asbury Automotive Group, Inc., AutoNation, Inc., Big boy Toyz ltd, CarMax Business Services, LLC, Cars24 services private limited here
News-ID: 3120433 • Views: โฆ
More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collectโฆ

Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growthโฆ

Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil โฆ
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strictโฆ

Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of โฆ
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise inโฆ
More Releases for Car
Car Washing Services Market Is Booming So Rapidly with Mister Car Wash, Zips Car โฆ
The Car Washing Services Market has been fragmented based on the productivity of several companies; therefore, each segment and its sub-segments are analyzed in the research report. Furthermore, the report offers 360 views on historical and upcoming growth based on volume, value, production, and consumption. Moreover, it classifies depend on sub-segments, key segments as per the significant regions and offers an in-depth analysis on the competitive edge of the market.โฆ
Car Wash Service Market Boosting the Growth Worldwide: Auto Bell Car Wash, Miste โฆ
The latest study released on the Global Car Wash Service Market by AMA Research evaluates market size, trend, and forecast to 2027. The Car Wash Service market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Keyโฆ
Car Rental Services Market Forecast to 2028 Covid-19 Impact and Global Analysis โฆ
Car rental services are a process of hiring/renting a car for a limited period from a rental company. Various companies like Uber Technologies, Europcar rent the vehicles for a short period ranging from few hours to weeks. The different types of cars rented by the company include Luxury Car, executive car, and economical car among others. Additionally, vehicle renting agencies also offer other products such as insurance, entertainment systems, andโฆ
Car Rentals Market Growth Strategies and Innovative Technology Transformation by โฆ
Worldwide Market Reports has announced the addition of the "Car Rentals Market Report 2020-2027 Production, Sales And Consumption Status And Prospects Professional Research", The report classifies the global Car Rentals Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The emergence of own-brand digital ordering platform has been trending in the global Car Rentals market. Car Rentals such asโฆ
Luxury Car Leasing Market Competitors Analysis By German Rent A Car, ANI Technol โฆ
'Global Luxury Car Leasing Market Research Report' the report is complete with an elaborate research undertaken by prominent analysts and a detailed analysis of the global industry place. The Luxury Car Leasing report is fragmented in several features which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again elaborated inโฆ
Car Wash Market is Thriving Worldwide 2026 | Super Star Car Wash, Autobell Car W โฆ
This Car Wash Market research report offers you an array of insights about Automotive industry and business solutions that will support to stay ahead of the competition. Systematic investment analysis is also underlined in this Car Wash Market report which forecasts impending opportunities for the market players.This market report is the outcome of persistent efforts lead by knowledgeable forecasters, innovative analysts and brilliant researchers who carries out detailed and diligentโฆ