The global vehicle reseller market is anticipated to grow at a considerable CAGR of 8.0% during the forecast period (2021-2027). The rise in competition among the market and the threat of new entries are the factors will bolster the growth of the vehicle reselling dealership business. The reliable & add on service and quality has changed the perspective of consumers toward the used vehicle business. In addition, franchised dealers along with support from original equipment manufacturers (OEM) for various types of involvement, certification, & marketing programs, online inventory pooling, and access to high-quality contracts are rising. Moreover, there has been an increase in demand for the vehicle subscription services over the decade has allowed consumers to use a vehicle on monthly basis by paying a monthly fee, which includes maintenance, insurance, and roadside assistance.
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For instance, in January 2021, Maruti Suzuki recently launched a subscription service for their vehicles. The company is evaluating options to offer used cars under the subscription service. This will support te company in expanding its portfolio which is available under Maruti Suzuki Subscribe. The manufacturer currently offers Vitara Brezza, Swift, XL6, Dzire, Ertiga, Ciaz, and Baleno through the subscription program. The subscription program is currently available in cities including Gurugram, Chennai, Bengaluru, Delhi, Hyderabad, Ahmedabad, Mumbai, and Pune. The company has also revealed its plans to launch these services in small cities across the countries by December 2022
Furthermore, rapid change in technology or introduction of new models of vehicles at short intervals allow customers to sell or exchange their old vehicle with a new vehicle. Such value for money benefit has led to the rise in growth of the used cars industry in the coming years.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
· By Vehicle Type
· By Vendor Type
· By Propulsion Type
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape- AutoNation, Big Boy Toyz, Cox Automobile, Hendrick Automotive Group, Kar Auction Services Inc., Mahindra and Mahindra Ltd, Asbury Automotive Group, OLX and others.
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Global Vehicle Reseller Market Report Segment
By Vehicle type
• Hatchback
• Sedan
• Sports Utility Vehicle (SUV)
By Vendor type
• Franchise Dealer
• Independent Dealer
By Propulsion type
• Internal Combustion Engine (ICE)
· Petrol
· Diesel
Global Vehicle Reseller Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
Company Profiles
· Asbury Automotive Group, Inc.
· AutoNation, Inc.
· Big Boy Toyz ltd.
· CarMax Business Services, LLC
· Cars24 Services Pvt.Ltd.
· Carvana Co.
· Copart Inc.
· Cox Automobile.com, Inc.
· Group1 Automotive Inc.
· Hendrick Automotive Group
· Kar Auction Services Inc.
· Lithia Motors, Inc.
· 6.13. Mahindra & Mahindra Limited
· Maruti Suzuki India Limited
· Olx Autos
· Scout24 SE
· TrueCar, Inc.
· Vroom, Inc.
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