Press release
Global Online Car Buying Market Growth, Size, Share, and Forecast (2025-2033)
Study Assumption Years
Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033
Online Car Buying Market Key Takeaways
Market Size in 2024: USD 357 Billion
CAGR: 9.3%
Forecast Period: 2025-2033
The market growth is boosted by rising inclination towards online transactions.
Technological advancements like AI-driven chatbots, augmented reality, and virtual showrooms enhance buying experiences.
Developed regions such as North America and Europe primarily drive adoption, while emerging economies catch up gradually.
Challenges include trust issues and smooth transition from online to real-world purchases.
Opportunities lie in online financing and building consumer confidence with transparent dealings.
Sample Request Link:
https://www.imarcgroup.com/online-car-buying-market/requestsample
Market Growth Factors
The online car buying market is experiencing strong growth driven by the convenience and accessibility these platforms offer. Buyers save time and energy by avoiding dealership visits, accessing detailed specifications, pricing, and reviews from home at any hour due to internet availability. Additionally, online options extend beyond local dealerships, allowing customers to explore a wider vehicle selection including remote areas, impacting roughly 3.4 billion people living in rural locations worldwide (World Bank, 2021).
Transparency and information availability are key growth drivers. Consumers seek openness about vehicle features, pricing, and user reviews. Several platforms provide tools for financial calculations, total cost of ownership, and financing options, enabling informed decisions tailored to individual budgets. This abundance of data empowers buyers and builds trust in online transactions.
Digitalization within the automotive industry has accelerated market growth. Technologies like AI chatbots assist customers with inquiries and financing guidance. Augmented reality and virtual showrooms allow buyers to visualize cars realistically. Automakers and dealerships are adopting digital tools and user-friendly websites and apps, streamlining operations and improving engagement, thus facilitating easier online car sales.
Market Segmentation
Breakup by Vehicle Type:
Hatchback: Compact and versatile, popular with urban dwellers and young drivers due to practicality, maneuverability, and affordability. Hybrid and electric hatchbacks are increasingly adopted.
Sedan: Traditional design with separate trunk, favored for comfort and space by families and commuters. Incorporates advanced safety and infotainment technologies.
SUV: Largest segment, known for toughness, higher ground clearance, and four/all-wheel drive. Suitable for families and outdoors enthusiasts, offering ample space and adaptability. Market predicted at US$ 826.2 billion value from 2024-2032 with 4.5% CAGR.
Others: Not specified in detail.
Breakup by Propulsion Type:
Petrol: Largest share, smooth and responsive engines offering quick acceleration suitable for diverse driving conditions. Lower upfront costs compared to EVs.
Diesel: Offers higher fuel efficiency and torque, favored for commercial use and heavy-duty performance. Expected 3.2% CAGR from 2024-2032 with 2023 market value growth of US$ 229.0 billion.
Others: Not specified in detail.
Breakup by Category:
Pre-Owned Vehicle: Largest segment, popular for affordability and transparent vehicle history. Online tools enhance trust through detailed vehicle reports and user ratings.
New Vehicle: Growing segment with access to latest models and customizable options online, enhancing convenience and reducing need for dealership visits.
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Regional Insights
North America currently leads the global online car buying market, driven by tech-savvy consumers valuing convenience and transparency. The U.S. offers extensive selections of new and used vehicles online, supported by widespread home delivery services and strong automotive e-commerce platforms. The COVID-19 pandemic accelerated adoption as buyers sought safer alternatives to traditional dealerships. This leadership is reflected in the region holding the largest market share globally.
Recent Developments & News
December 2, 2020: Asbury Automotive Group Inc. launched Clicklane, a communication technology ecosystem to facilitate full online car purchasing and selling experiences, in partnership with Gubagoo.
November 15, 2022: AutoNation Inc. acquired approximately 6.1% stake in TrueCar, enhancing its digital marketplace presence for connecting buyers and sellers.
November 7, 2023: CarGurus Inc. completed acquisition of CarOffer, expanding its technological capabilities in vehicle buying and selling solutions.
Key Players
Asbury Automotive Group
AutoNation
CarGurus, Inc.
CarMax Enterprise Services, LLC
Cars and Bids LLC
Cars.com
CarsDirect.com
Carvana
Group 1 Automotive, Inc.
Hendrick Automotive Group
Lithia Motors
Miami Lakes Automall
TrueCar, Inc
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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: +1-201971-6302
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include 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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