Used Car Market Size, Share, and Trends 2024 to 2034

The global used car market size was USD 1.58 trillion in 2023, estimated at USD 1.69 trillion in 2024 and is anticipated to reach around USD 3.31 trillion by 2034, expanding at a CAGR of 6.94% from 2024 to 2034.

  • Last Updated : September 2024
  • Report Code : 1279
  • Category : Automotive

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

5.1. Market Dynamics

5.1.1. Market Drivers

5.1.2. Market Restraints

5.1.3. Market Opportunities

5.2. Porter’s Five Forces Analysis

5.2.1. Bargaining power of suppliers

5.2.2. Bargaining power of buyers

5.2.3. Threat of substitute

5.2.4. Threat of new entrants

5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis

6.1.2. Key Strategies Adopted by Players

6.1.3. Vendor Landscape

6.1.3.1. List of Suppliers

6.1.3.2. List of Buyers

Chapter 7. Global Used Car Market, By Vehicle Type

7.1. Used Car Market, by Vehicle Type, 2024-2034

7.1.1. Conventional

7.1.1.1. Market Revenue and Forecast (2021-2034)

7.1.2. Hybrid

7.1.2.1. Market Revenue and Forecast (2021-2034)

7.1.3. Electric

7.1.3.1. Market Revenue and Forecast (2021-2034)

Chapter 8. Global Used Car Market, By Vendor Type

8.1. Used Car Market, by Vendor Type, 2024-2034

8.1.1. Unorganized

8.1.1.1. Market Revenue and Forecast (2021-2034)

8.1.2. Organized

8.1.2.1. Market Revenue and Forecast (2021-2034)

Chapter 9. Global Used Car Market, By Fuel Type

9.1. Used Car Market, by Fuel Type, 2024-2034

9.1.1. Diesel

9.1.1.1. Market Revenue and Forecast (2021-2034)

9.1.2. Petrol

9.1.2.1. Market Revenue and Forecast (2021-2034)

9.1.3. Others

9.1.3.1. Market Revenue and Forecast (2021-2034)

Chapter 10. Global Used Car Market, By Size

10.1. Used Car Market, by Size, 2024-2034

10.1.1. Mid-Size

10.1.1.1. Market Revenue and Forecast (2021-2034)

10.1.2. Compact

10.1.2.1. Market Revenue and Forecast (2021-2034)

10.1.3. SUVs

10.1.3.1. Market Revenue and Forecast (2021-2034)

Chapter 11. Global Used Car Market, By Sales Channel

11.1. Used Car Market, by Sales Channel, 2024-2034

11.1.1. Offline

11.1.1.1. Market Revenue and Forecast (2021-2034)

11.1.2. Online

11.1.2.1. Market Revenue and Forecast (2021-2034)

Chapter 12. Global Used Car Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.1.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.1.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.1.4. Market Revenue and Forecast, by Size (2021-2034)

12.1.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.1.6. U.S.

12.1.6.1. Market Revenue and Forecast, by Vehicle Type(2021-2034)

12.1.6.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.1.6.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.1.6.4. Market Revenue and Forecast, by Size(2021-2034)

12.1.6.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.1.7. Rest of North America

12.1.7.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.1.7.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.1.7.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.1.7.4. Market Revenue and Forecast, by Size (2021-2034)

12.1.7.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.2.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.2.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.2.4. Market Revenue and Forecast, by Size (2021-2034)

12.2.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.2.6. UK

12.2.6.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.2.6.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.2.6.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.2.6.4. Market Revenue and Forecast, by Size (2021-2034)

12.2.6.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.2.7. Germany

12.2.7.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.2.7.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.2.7.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.2.7.4. Market Revenue and Forecast, by Size (2021-2034)

12.2.7.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.2.8. France

12.2.8.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.2.8.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.2.8.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.2.8.4. Market Revenue and Forecast, by Size (2021-2034)

12.2.8.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.2.9. Rest of Europe

12.2.9.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.2.9.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.2.9.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.2.9.4. Market Revenue and Forecast, by Size (2021-2034)

12.2.9.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.3.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.3.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.3.4. Market Revenue and Forecast, by Size (2021-2034)

12.3.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.3.6. India

12.3.6.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.3.6.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.3.6.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.3.6.4. Market Revenue and Forecast, by Size (2021-2034)

12.3.6.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.3.7. China

12.3.7.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.3.7.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.3.7.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.3.7.4. Market Revenue and Forecast, by Size (2021-2034)

12.3.7.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.3.8. Japan

12.3.8.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.3.8.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.3.8.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.3.8.4. Market Revenue and Forecast, by Size (2021-2034)

12.3.8.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.3.9. Rest of APAC

12.3.9.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.3.9.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.3.9.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.3.9.4. Market Revenue and Forecast, by Size (2021-2034)

12.3.9.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.4.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.4.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.4.4. Market Revenue and Forecast, by Size (2021-2034)

12.4.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.4.6. GCC

12.4.6.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.4.6.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.4.6.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.4.6.4. Market Revenue and Forecast, by Size (2021-2034)

12.4.6.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.4.7. North Africa

12.4.7.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.4.7.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.4.7.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.4.7.4. Market Revenue and Forecast, by Size (2021-2034)

12.4.7.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.4.8. South Africa

12.4.8.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.4.8.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.4.8.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.4.8.4. Market Revenue and Forecast, by Size (2021-2034)

12.4.8.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.4.9. Rest of MEA

12.4.9.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.4.9.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.4.9.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.4.9.4. Market Revenue and Forecast, by Size (2021-2034)

12.4.9.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.5.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.5.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.5.4. Market Revenue and Forecast, by Size (2021-2034)

12.5.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.5.6. Brazil

12.5.6.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.5.6.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.5.6.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.5.6.4. Market Revenue and Forecast, by Size (2021-2034)

12.5.6.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

12.5.7. Rest of LATAM

12.5.7.1. Market Revenue and Forecast, by Vehicle Type (2021-2034)

12.5.7.2. Market Revenue and Forecast, by Vendor Type (2021-2034)

12.5.7.3. Market Revenue and Forecast, by Fuel Type (2021-2034)

12.5.7.4. Market Revenue and Forecast, by Size (2021-2034)

12.5.7.5. Market Revenue and Forecast, by Sales Channel (2021-2034)

Chapter 13. Company Profiles

13.1. CarMax Business Service, LLC

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Alibaba.com

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Asbury Automotive Group

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Hendrick Automotive Group

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Scout24 AG

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. TrueCar, Inc.

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Lithia Motor Inc.

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Group 1 Automoitve Inc.

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. AutoNation Inc.

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. eBay Inc.

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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Frequently Asked Questions

The global used car market size was reached at USD 1.58 trillion in 2023 and is predicted to surpass around USD 3.31 trillion by 2034.

The global used car market growth is expected to hit at a CAGR of 6.94% between 2024 and 2034.

The market for used car witnessed prominent growth due to the rising investment from automotive manufacturers for expanding their dealership network.

The Asia Pacific is the global leader in the used car market and accounted to held more than 39% revenue share in the year 2023.

The major market players profiled in the global used car market are CarMax Business Service LLC, Alibaba.com, Asbury Automotive Group, Hendrick Automotive Group, Scout24 AG, TrueCar Inc., Lithia Motor Inc., Group 1 Automotive Inc., AutoNation Inc., and eBay Inc. among others.

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