Used car market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. This informative Used Car Market report provides new method and covers foremost regions such as Latin America, Middle East, North America, Europe, Africa and Asia Pacific. Making most out of the consumer insights and market opportunities, market players can boost up the revenue rate of their business. It also permits key organizations to make communication with customers and know their demands for making right investment in the product development. By increasing the product portfolio by referring the important market data provided in this Used Car Market research report, key players can grow and expand their business forward. Continuously developing customer demands are also described in this global report to help new entrants make required changes in the final product launch and then bring into the market. It becomes easy for key players to prioritize the demands and requirements of target audience and have complete understanding of end-user experience with the help of this Used Car Market study report.
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Based on vendor, the organized vendor segment is anticipated to grow significantly in the market during the forecast period owing to the growing number of franchised dealers across the globe. The entrance of new market players with new retail models has also developed as a key factor in growing the number of organized dealers. As per the 2021 annual report of NADA, in the U.S., the share of used vehicles is 8% street purchase, 24.6% by auction purchase, 27.1% by trade-in on a used vehicle, and 39.2% by trade-in on new vehicle sources. Moreover, the organized vendors take advantage of better consumer loyalty to the product across all age groups. In developed countries such as Germany, the U.S., the U.K., and others there are some key dealers such as Asbury Automotive Group and CarMax Business Services, LLC that contains a prominent share in the market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Used Car Market Report Segment
By Vehicle type
- Hatchbacks
- Sedan
- Sports Utility Vehicle (SUV)
By Vendor
- Organized
- Unorganized
By Fuel Type
- Petrol
- Diesel
Global Used Car Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global used car market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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