Press release
Online Car Buying Market Report: Size, Share & Global Forecast
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STUDY ASSUMPTION YEARS:
• BASE YEAR: 2024
• HISTORICAL YEARS: 2019-2024
• FORECAST YEARS: 2025-2033
ONLINE CAR BUYING MARKET KEY TAKEAWAYS
• Market Size & Growth: Valued at USD 357 B in 2024; projected to reach USD 795 B by 2033 (CAGR: 9.3%)
• Fastest Growing Vehicle: SUVs currently hold the largest share among vehicle types
• Propulsion Trends: Petrol propulsion dominates over diesel and other types
• Category Split: Pre owned vehicles lead the market over new vehicles
• Regional Leader: North America stands as the dominant market
• Tech Impact: Adoption of AI chatbots, AR, and virtual showrooms are key enablers
• Competitive Landscape: A mix of legacy automakers and digital-native startups is intensifying innovation and transparency
MARKET GROWTH FACTORS
1. How Government Initiatives Are Fueling the Rise of Education Apps Worldwide?
More and more, global governments are taking the lead in promoting digital education by implementing supportive policies and investing heavily in digital infrastructure. Their key strategies involve funding smart classrooms, crafting state-of-the-art online learning resources, and collaborating with top edtech companies. These initiatives are really boosting the use of education apps, turning them into vital tools in modern learning settings and reshaping the educational technology landscape.
2. Smart Classrooms and EdTech Partnerships Drive Digital Education Revolution
Governments around the world are really stepping up to support digital education. They're rolling out friendly policies and putting a lot of money into building up digital infrastructure. Some of the main strategies include funding smart classrooms, creating innovative online learning materials, and teaming up with leading edtech companies. These efforts are speeding up the use of education apps, making them essential in today's learning environments and transforming the world of educational technology.
3. Digital Car Buying Trends: How Younger Generations Are Shaping the Market
Modern shoppers, especially those from the millennial and Gen Z generations, are embracing the convenience and flexibility that digital shopping provides. They enjoy the ability to compare different models, read reviews, and even set up home delivery, which aligns well with their changing expectations. Additionally, the competitive pricing that online platforms can offer, due to their lower margins compared to traditional dealerships, catches the eye of budget-conscious buyers. There's also a growing trend of purchasing pre-owned vehicles online, driven by their affordability and a shift in how people perceive quality.
MARKET SEGMENTATION
Breakup by Vehicle Type:
• Hatchback
• Sedan
• SUV
• Others
Breakup by Propulsion Type:
• Petrol
• Diesel
• Others
Breakup by Category:
• Pre-Owned Vehicle
• New Vehicle
Breakup by Region:
o North America (United States, Canada)
o Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
o Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
o Latin America (Brazil, Mexico, Others)
o Middle East and Africa
REGIONAL INSIGHTS
North America leads the global online car buying market, driven by high internet penetration, digitally-savvy consumers, and strong regulatory support. The U.S. and Canada are central to this surge, with mature logistics, financing ecosystems, and a cultural shift toward online vehicle purchases propelling growth.
RECENT DEVELOPMENTS & NEWS
Innovations in social-media-driven car deals are reshaping the market, with platforms leveraging networks to offer exclusive pricing and promotions. Meanwhile, younger buyers are increasingly purchasing pre-owned vehicles online, fueling platform growth. Additionally, stricter fuel-efficiency regulations and improved urban infrastructure are boosting market readiness, creating a favorable environment for digital auto commerce.
KEY PLAYERS
Asbury Automotive Group Inc., AutoNation Inc., Cargurus Inc., CarsDirect.com, Cars.com Inc., Cox Automotive Inc, Group 1 Automotive Inc., Hendrick Automotive Group, Lithia Motors Inc., TrueCar Inc., etc.
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About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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