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Global Used Car Market Forecast to 2030 - COVID-19 Impact and Analysis by Vendor Type (Organized and Unorganized); Propulsion (Conventional and Electric); Sales Channel (Offline and Online); Vehicle Type (Compact Car, Mid-Sized, and SUV); and Geography

  • Industry : Automotive & Transportation
  • No. of Pages : 200
  • Report Code : YVAT10326

Global Used Car Market Introduction

The market for a used car has shown significant growth in the last few years. The inability of customers to buy new cars is one of the major factors for the growing sales of used car volume. Online sales in auto marketplaces have played a vital role in bringing access to consumers. Such factors are significantly booming the demand for the used car market. The toughening government regulations related to organized operations, standardized dealership experience, and digital revolution are supporting the used car market. Furthermore, the strong position of franchise dealers, transparency and symmetry of the information among the buyers and consumers, and certified used vehicle programs play a major role in driving the used car market growth over the forecast period.

Global Used Car Market Overview

The global used car market provides an in-depth analysis of segments and sub-segments, region, and country analysis of the overall growth prospects in the market. The report offers a complete overview of the industry, including both qualitative and quantitative information. The used car market report covers a complete analysis and provides market size and forecast estimation from the year 2017 to 2030 based on various segments and sub-segments with respect to four major regions, including North America, Europe, Asia-Pacific (APAC), Latin America & Middle East and Africa (LAMEA). The research report highlights underlying factors such as the drivers, restraints, opportunities, and trends of the global Used Car market over the long as well as short period of time. Furthermore, the global used car market report offers PEST analysis, NOISE analysis, improvement Venn diagram, brand recall, perceptual mapping, ecosystem/value chain analysis, Porter’s five forces analysis, and investment pocket analysis with respect to the market. By examining the data collected from primary and secondary methods, the report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. This information can help stakeholders to make appropriate decisions before investing.

Global Used Car Market Insights

The market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, financial information, SWOT analysis, and key strategies, such as recent developments, market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. Players operating in the global used car market mainly focus on the adoption of various strategies to expand their footprint across the world and take the initiative for the development of innovative, efficient, and advanced products.

Market Mapping

Market mapping or perceptual mapping is the graphical representation of where a brand, product, or service stands among competitors. Market mapping analysis helps to understand the client how their customers perceive their product offering with their competitors for the used car market. By identifying their current products and competitor products on the market map, the business can fill an identified gap to compete with the competition actively.


COVID-19 Impact on Global Used Car Market

The COVID-19 pandemic has largely impacted globally since December 2019. According to the World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, Germany, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain, resulting in demand-supply gaps. This scenario is expected to have a large impact on the global used car market.

With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:

·        Rapid shifts in top 100 companies across each sector

·        Growth and decline in each sector due to the COVID-19 pandemic

Global Used Car Market Segmentation

     

Global Used Car Market – by Vendor Type

·        Organized

·        Unorganized

Global Used Car Market – by Propulsion

·       Conventional

·       Electric

Global Used Car Market – by Sales Channel

·       Offline

·       Online

Global Used Car Market – by Vehicle Type

·       Compact Car

·       Mid-Sized

·       SUV

Global Used Car Market – by Geography

·        North America

o   US

o   Canada

o   Mexico

·        Europe

o   Germany

o   France

o   Italy

o   UK

o   Russia

o   Spain

o   Netherlands

o   Rest of Europe

·        Asia-Pacific (APAC)

o   China

o   India

o   South Korea

o   Japan

o   Australia

o   Singapore

o   Rest of APAC

·        LAMEA

o   Latin America

o   Middle East

o   Africa

Key Players

1.      Asbury Automotive Group

2.      AutoNation

3.      CarMax Inc.

4.      Cars.com

5.      Cars24 Services Private Ltd.

6.      Emil Frey Classics AG

7.      Group 1 Automotive Inc.

8.      Hendrick Automotive Group

9.      Lithia Motors, Inc.

10.   Mahindra First Choice

11.   Pendragon PLC

12.   Penske Automotive Group Inc.

13.   Sonic Automotive

14.   TrueCar Inc.

15.   Vroom Inc.

Brand Recall

Brand awareness is the methodology by which customers are able to recall or recognize a brand (unaided/aided) under several different conditions with respect to the market. These strategies will help the company make people more aware of your brand, especially by targeting relevant, high-quality audiences for the used car market.


Key Questions Answered

·        Which region provides more business opportunities for the global used car market in the upcoming years?

·        Who is the leading overall used car market, and what strategies have been adopted by them?

·        Which segment accounted for the largest used car market share?

·        What are the upcoming trends in the global used car market? What impact would these trends make in the coming years for the used car market?

·        Which player offering the best product range for the global used car market?

Key Benefits for Stakeholders

·        This study presents the analytical description of the used car market analysis along with the current trends and future estimations to describe coming up investment pockets

·        The complete used car market opportunity is resolute by knowing profitable trends to gain a stronger foothold

·        The report describes insights associated with key drivers, restraints, opportunities, and trends of the global used car market with thorough impact analysis

·        The global used car market is quantitatively analyzed from 2017 to 2030 to focus on the monetary ability

·        PEST analysis defines the potency of the consumers and suppliers in the global used car market

·        Porter’s five forces analysis examines the five forces that make a competitive company while identifying its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the global used car market

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