Press release
Online Car Buying Market Forecast: Vehicle Types, Propulsion Methods, and Regional Insights (2026-2034)
Study Assumption Years
Base Year: 2025
Historical Years: 2020-2025
Forecast Period: 2026-2034
Online Car Buying Market Key Takeaways
The global online car buying market size was USD 390.4 Billion in 2025.
The market is expected to grow at a CAGR of 8.80% during 2026-2034.
The forecasted market size for 2034 is USD 836.4 Billion.
SUV segment currently holds the majority market share due to versatility and wide appeal.
Petrol propulsion type dominates the market, favored for smooth performance and affordability.
Pre-owned vehicle segment leads the market, driven by cost savings and transparency.
North America commands the largest regional market share, fueled by technology adoption and consumer preference.
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Market Growth Factors
The online car buying market experiences significant growth driven by the platform's convenience and accessibility. Buyers can avoid multiple dealership visits, conduct detailed research and comparisons online, and explore vehicles beyond geographic constraints, benefiting especially those from remote areas. The availability of internet connectivity allows users to shop at any time, leading to energy and time savings. According to the World Bank 2021 report, about 3.4 billion people reside in rural areas, underscoring the importance of digital accessibility in automotive purchases.
Transparency and abundant information availability fuel market growth. Online portals provide comprehensive details on features, costs, reviews, and financing options such as payment calculators and total cost of ownership tools. This empowers buyers to make well-informed financial decisions suited to their budgets. The demand for openness in product details drives customers towards digital buying platforms that provide clear, comparable data and user-generated content to build confidence in purchasing decisions.
Technological advancements greatly support the market expansion. AI-driven chatbots assist customers with queries, financing, and options, while augmented reality and virtual showrooms enhance user engagement by enabling real-time vehicle visualization and customization. The automotive industry's digital transformation includes user-friendly websites and mobile apps that streamline the entire buying process. These trends are essential to meet the evolving preferences of younger, digitally native customers and accommodate the increased online buying demand accelerated by the COVID-19 pandemic.
Market Segmentation
By Vehicle Type:
SUV: Largest segment due to adaptability, roominess, and diverse models (compact, medium, full-size) catering to varied tastes and needs. Market value estimated at US$ 826.2 billion with a CAGR of 4.5% (2024-2032).
Hatchback: Known for compact size and versatility, favored by urban dwellers and young drivers. Shift towards hybrid and electric options noted.
Sedan: Traditional design with spacious interiors, popular among families; incorporating advanced safety and infotainment technologies.
By Propulsion Type:
Petrol: Dominant propulsion type, appreciated for smooth performance, quick acceleration, and affordability. In the US, gasoline accounted for 57% of transportation energy in 2022.
Diesel: Valued for fuel efficiency and torque, significant in commercial vehicles and trucks.
By Category:
Pre-Owned Vehicle: Leading category driven by affordability, broad access through online platforms, transparency via vehicle history reports, and consumer reviews.
New Vehicle: A growing segment due to latest models, customization options, and the convenience of home configuration and purchase.
Regional Insights
North America holds the largest market share in the global online car buying industry. The region, mainly the US and Canada, benefits from tech-savvy consumers, a wide range of online vehicle selections, and home delivery services. The rapid adoption of digital tools and the COVID-19 pandemic's impact accelerated online vehicle purchases. European and Asia Pacific regions are also experiencing strong growth, supported by digitalization and increasing internet penetration.
Recent Developments & News
December 2, 2020: Asbury Automotive Group launched Clicklane, a technology platform to enable full online car purchasing, developed in partnership with Gubagoo.
November 15, 2022: AutoNation acquired about 6.1% stake in TrueCar, emphasizing its commitment to digital automotive technology.
November 7, 2023: CarGurus completed the acquisition of CarOffer, enhancing its technological capabilities in vehicle trade processes.
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
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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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