Used Cars Market Trend

OREGAON, PORTLAND, UNITED STATES , January 20, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global used cars market was estimated at $1.4 trillion in 2021 and is expected to hit $2.6 trillion by 2031, registering a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

🔰𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/6794

The report offers a detailed segmentation of the global used cars market based on vehicle type, propulsion, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the SUV segment accounted for the highest share in 2021, generating nearly half of the global used cars market revenue and is projected to rule the roost by 2031. Simultaneously, the same segment would also showcase the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟒% during the forecast period. The segments such as hatchback and sedan are also analyzed in the report.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧, the ICE segment contributed to more than 90% of the global used cars market revenue and is projected to dominate the market in terms of revenue during the forecast period. On the other hand, the electric and hybrid segment would portray the fastest CAGR of 13.6% during the forecast period.

🔰𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/used-cars-market/purchase-options

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, the peer-to-peer segment held the major share in 2021, garnering more than two-fifths of the global used cars market revenue and is projected to maintain its dominance by 2031. However, the franchised dealer segment would display the fastest CAGR of 7.4% during the forecast period. The independent dealer segment is also studied in the report.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, Europe held the major share in 2021, garnering more than half of the global used cars market revenue and is projected to rule the roost by 2031. However, the Asia-Pacific region would showcase the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟖% during the forecast period. The other provinces studied in the report include North America and LAMEA.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨:

The COVID-19 pandemic had a significant impact on the global used cars market because of a decline in income, a lack of funds, and an increase in the preference for private vehicles to maintain social distance.

Due to the COVID-19 pandemic, many customers prefer to purchase used cars online, which promotes the market's expansion of the online technologies and e-commerce sector.

However, some automotive companies struggled during the pandemic as supply chain disruptions and manufacturing halted. But as the global situation has recovered, the market has now got back on track.

🔰𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/6794

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :-
Asbury Automotive Group, Inc.,
AutoNation, Inc.,
CarMax Business Services, LLC,
Cars24 Services Private Limited,
Carvana,
Group 1 Automotive Inc.,
Hendrick Automotive Group,
Lithia Motors, Inc.,
Mahindra First Choice Wheels Ltd.,
TrueCar, Inc.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/used-bike-market-A09641 - Used Bike Market Size, Share, Competitive Landscape and Trend Analysis Report by Distribution channel (C2C, B2C), by Source (Domestically Manufactured, Imported Bikes), by Engine capacity (50 to 125cc, 125 to 250cc, Above 250cc, Electric Drive), by Type (Standard, Sports, Cruiser bikes, Mopeds, Others), by Propulsion (ICE, Electric): Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/used-truck-market-A10181 - Used Truck Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (Light Truck, Medium-duty Truck, Heavy-duty Truck): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/air-transport-used-serviceable-material-market-A14057 - Air Transport Used Serviceable Material Market Size, Share, Competitive Landscape and Trend Analysis Report by Aircraft Type (Very Large, Wide-Body, Narrow-Body, Regional Transport), by Product Type (Engine, Component, Airframe), by Distribution Channel (OEM, Aftermarket) and by Region (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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