What is the current Used Car Market size?

The Used Car Market is projected to register a CAGR of 10% during the forecast period (2024-2029) Read More

Who are the key players in Used Car Market?

Penske Cars, Pendragon PLC, The Hertz Corporation, Emil Frey AG and Maruti Suzuki True Value are the major companies operating in the Used Car Market. Read More

Which is the fastest growing region in Used Car Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Used Car Market?

In 2024, the Asia-Pacific accounts for the largest market share in Used Car Market. Read More

What years does this Used Car Market cover?

The report covers the Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges faced by the Used Car Market?

Major challenges faced by the Used Car market include a) Varying regulations across regions b) Risk of fraudulent transaction c) Perception of lower reliability and warranty concerns compared to new cars Read More

What are the latest trends in the Used Car Market?

Latest trends in the Global Used Cars Industry are a) Growing emphasis on digital sales channels b) Rise of certified pre-owned programs c) Increase in subscription-based services offering used cars Read More

Used Car Market Size | Industry Trends & Forecast Analysis Report

Used Car Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Covers Global Used Car Market Projections & Outlook and it is Segmented by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicles Multi-Purpose Vehicles), Vendor Type (Organized and Unorganized), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The report offers market size and forecasts for used cars in terms of value (USD billion) for all the above segments.

Used Car Industry Overview

The used car market is dominated by several key players, namely True Value, Hertz Corporation, Pendragon PLC, and many others. The growing organized and semi-organized sector is expected to bring in more revenue for the leading organized players toward the latter half of the forecast period, thus, moving the market ever slightly toward a consolidated one. For instance,

In June 2022, TrueCar Inc. acquired Digital Motors. This acquisition is intended to accelerate TrueCar's plan to deliver a robust digital car buying and selling experience with its TrueCar+ marketplace.
In May 2022, GoTo-backed Bank Jago announced its partnership with the used car marketplace Carsome Indonesia for its automotive financing initiative.
In January 2022, Cazoo, one of Europe's leading online car retailers, acquired Italian online used car retailer and subscription platform Brum Brum for EUR 800 million (USD 828.80 million). Through this acquisition, Cazoo will launch its service across Italy.
In November 2021, Carvago expanded its facility across Italy. The company offers 700 used cars to customers across the country.