Market Overview:
The global used cars market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to various factors such as the increasing demand for used cars, technological advancements, and rising disposable income. In terms of type, the commercial vehicles segment is expected to grow at a higher CAGR than passenger cars during the forecast period. This can be attributed to the increasing demand for commercial vehicles in developing countries due to their low cost and fuel efficiency as compared with new vehicles. In terms of application, franchised dealers are expected to hold a larger share of the global used cars market than independent dealers during the forecast period.
Product Definition:
Used Cars are automobiles that have been previously owned by another person. The importance of used cars is that they offer a more affordable option for consumers than buying a new car. Additionally, used cars often come with warranties and other protections that can make the purchase less risky.
Commercial Vehicles:
Commercial vehicles include trucks, buses, and other such vehicles. They are used for the transportation of goods and materials from one place to another. The global commercial vehicle market is expected to witness significant growth over the forecast period owing to increasing trade activities across the world coupled with rising demand for logistic services from various end-use industries such as automotive, construction & building material handling equipment industry among others.
Passenger Cars:
Passenger cars are designed for the transportation of 15 passengers or less. They are used by individuals to commute from one place to another. The global passenger car and it's usage in the market is expected to witness significant growth over the forecast period owing to increasing demand for personal transportation, rising income levels, and changing lifestyles. Passenger cars have a significantly larger share of short-distance travel than any other form of transport; this is also expected to drive their demand over the next few years.
Application Insights:
The others application segment includes rental cars, taxi-like vehicles, buses, and trucks. The independent used car dealerships held around 70.0% of the overall market in 2017 as compared to franchised used car dealerships which held around 30.0% of the overall market in 2017 across all regions. This is primarily due to various advantages offered by independent used car dealership such as flexibility in location selection and advertising/promotion of vehicles on their own without involving a third party organization such as a manufacturer¢â‚¬â„¢s authorized dealer network or an automobile club (such as Avis/Budget).
Franchised automobiles are sold through established networks controlled by automakers that act as intermediaries between manufacturers and consumers; these networks typically consist of multiple locations ordealerships within a specific geographic area who are fully integrated into an automaker¢â‚¬â„¢s distribution system with each other.
Regional Analysis:
The North American region dominated the global used cars market in 2017. The regional growth is attributed to increasing demand for passenger cars and light commercial vehicles from U.S., Canada, and Mexico on account of rising population, consumer spending, and disposable income. Moreover, presence of major players such as Ford Motor Company; General Motors; Nissan Motor Corporation; Toyota Industries Corporation; Honda Motor Co.; Mazda Japan Automobile Inc.; Volkswagen Group America Inc.; Hyundai Mobis Korea Co Ltd.; Skoda Auto Czech Republic a.s.; Kia Motors Corp., etc.
Growth Factors:
- Increasing disposable income of the population: The disposable income of the population is increasing, which is resulting in an increase in demand for used cars.
- Improved economic conditions: The overall economic conditions are improving, which is resulting in an increase in demand for used cars.
- Increased availability of credit: The availability of credit is increasing, which is resulting in an increase in demand for used cars.
- Rising fuel prices: Fuel prices are rising, which is resulting in a shift towards buying used cars instead of new cars.
Scope Of The Report
Report Attributes
Report Details
Report Title
Used Cars Market Research Report
By Type
Commercial Vehicles, Passenger Cars
By Application
Franchised, Independent, Others
By Companies
Denso, Magna, Fiat, Ford, GM, Honda, Hyundai, Toyota, Volkswagen, Denso
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Used Cars Market Report Segments:
The global Used Cars market is segmented on the basis of:
Types
Commercial Vehicles, Passenger Cars
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Franchised, Independent, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Denso
- Magna
- Fiat
- Ford
- GM
- Honda
- Hyundai
- Toyota
- Volkswagen
- Denso
Highlights of The Used Cars Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Commercial Vehicles
- Passenger Cars
- By Application:
- Franchised
- Independent
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Used Cars Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Used cars are vehicles that have been used by someone else. They may be new or old, but they have been used and are no longer in perfect condition.
Some of the major players in the used cars market are Denso, Magna, Fiat, Ford, GM, Honda, Hyundai, Toyota, Volkswagen, Denso.
The used cars market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Used Cars Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Used Cars Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Used Cars Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Used Cars Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Used Cars Market Size & Forecast, 2018-2028
4.5.1 Used Cars Market Size and Y-o-Y Growth
4.5.2 Used Cars Market Absolute $ Opportunity
Chapter 5 Global Used Cars Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Used Cars Market Size Forecast by Type
5.2.1 Commercial Vehicles
5.2.2 Passenger Cars
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Used Cars Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Used Cars Market Size Forecast by Applications
6.2.1 Franchised
6.2.2 Independent
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Used Cars Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Used Cars Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Used Cars Analysis and Forecast
9.1 Introduction
9.2 North America Used Cars Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Used Cars Market Size Forecast by Type
9.6.1 Commercial Vehicles
9.6.2 Passenger Cars
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Used Cars Market Size Forecast by Applications
9.10.1 Franchised
9.10.2 Independent
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Used Cars Analysis and Forecast
10.1 Introduction
10.2 Europe Used Cars Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Used Cars Market Size Forecast by Type
10.6.1 Commercial Vehicles
10.6.2 Passenger Cars
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Used Cars Market Size Forecast by Applications
10.10.1 Franchised
10.10.2 Independent
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Used Cars Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Used Cars Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Used Cars Market Size Forecast by Type
11.6.1 Commercial Vehicles
11.6.2 Passenger Cars
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Used Cars Market Size Forecast by Applications
11.10.1 Franchised
11.10.2 Independent
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Used Cars Analysis and Forecast
12.1 Introduction
12.2 Latin America Used Cars Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Used Cars Market Size Forecast by Type
12.6.1 Commercial Vehicles
12.6.2 Passenger Cars
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Used Cars Market Size Forecast by Applications
12.10.1 Franchised
12.10.2 Independent
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Used Cars Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Used Cars Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Used Cars Market Size Forecast by Type
13.6.1 Commercial Vehicles
13.6.2 Passenger Cars
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Used Cars Market Size Forecast by Applications
13.10.1 Franchised
13.10.2 Independent
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Used Cars Market: Competitive Dashboard
14.2 Global Used Cars Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Denso
14.3.2 Magna
14.3.3 Fiat
14.3.4 Ford
14.3.5 GM
14.3.6 Honda
14.3.7 Hyundai
14.3.8 Toyota
14.3.9 Volkswagen
14.3.10 Denso
