Global Used Vehicle Market
Market Highlights
Used Vehicle are the types of vehicle available for resale purpose. The used vehicle is sold through various outlets, such as car dealers, franchise, rental car companies, and private party sales. The growing internet-based marketing, increasing industrial and manufacturing activities from developed and developing countries, and rising per capita income, are expected to drive the used vehicle market. Additionally, the stringent vehicular emissions regulations and the growing demand for car subscription services, add to the growth of this market.
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Market Research Analysis
In terms of region, the global market for the used vehicle is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the largest market share during the forecast period owing to the growing production and sales of automobiles from China and Japan. Moreover, the growing population and rising purchasing power are expected to boost the demand for used vehicle in this region. Furthermore, the focus to reduce vehicle emissions, accelerates the growth of this market.
North America is expected to grow at a significant rate in global used vehicle market during forecast period owing to the presence of key retailers, such as CarMax Business Services, LLC, Autotrader, and Cox Automotive from the US, which lead to the growth of this market. For instance, according to the report of CarMax, as of December 31, 2016, there were approximately 18,000 franchised dealers in the US, were considered primary retailers, as they sell various late-model used vehicle. Additionally, the increased demand for mid-sized engine capacity vehicle, growing spending power, the availability of suitable credit payment options, and rising employment opportunities drive the used vehicle market in North America.
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Scope of the Report
This study provides an overview of the global used vehicle market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global used vehicle market by vehicle age, vehicle type, propulsion, sales channel and regions.
Electric Vehicle
- Battery Electric Vehicle
- Plug-in Electric Vehicle
- Hybrid Electric Vehicle
Key Players:
The vendor companies profiled in the global used vehicle market include CarMax Business Services, LLC (US), Autonation (US), Vroom, Inc. (US), Manheim (US), Autotrader, Inc. (US), HERTZ CAR SALES (US), Cox Automotive, Inc. (US), Sun Toyota (US), Alibaba Group (China), eBay (US), PenskeCars (US), and TrueCar, Inc. (US).