The report titled “USA Used Car Market Outlook to 2026 – Driven by an influx of digital players along with consumer demand for personal mobility and affordable pricing” provides a comprehensive analysis of the used car market and sales in USA. The report covers overview and genesis of the industry, used car market size in terms of total revenue generated for the total used car volume sales with average price of used car and used to new car ratio; along with Used car finance market size, Used car auction market size, Online e-commerce used car market size. It also includes snapshot on Online used Car market, trends and developments, issues and challenges and comparative landscape including competition scenario based on cross comparison in USA. The report concludes with future market projections of each used car segmentation and Analyst recommendations for Marketing & Promotional Strategies.
USA Used Car Market Overview
USA Used Car market has grown at a steady growth rate over the past few years supported by increase in population in the country along with the rising trends of upgrading the cars over the years. Factors like fast growing disposable income, rising demand for premium cars, shorter period of car ownership, and increasing preference of the owner are driving the growth of Used Car sales. Growth is further supported by manufacturer’s investments in expanding the network of used cars dealers, building the brand and enabling customers to choose.
USA Used Car Market Size and Segmentation
The USA Used Car market has grown with from 2016 to 2021 due to COVID-19 being one of the biggest drivers as it compelled people have a personal vehicle to avoid use of public transportation for protective measures. Automakers for more than a year now have been battling through a semiconductor chip shortage that has sporadically halted production of new vehicles, causing record-low inventories of vehicles and higher prices. These circumstances have pushed many buyers into the Used-car market.
USA Used Car Market Segmentation
By Market Structure
The Organized Car market structure has dominated the USA Used market owing to the promising value-added services like warranty, certification; convenient buying experience and more along with increased awareness about buying and selling used cars through online advertisements and publicity.
By Organized Sector
In the Organized sector, Multi-Brand Franchised conquers the market, being the most popular type of player in USA, as they have more corpus to purchase inventory, and further sell it off to the consumers as they deal with both new and used cars.
By Unorganized Sector
In the Unorganized sector, C2C transactions constitute the major proportion of the market due to the strong preference to less-aged cars and popular brands with good resale value which attracts consumers.
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By Type of Car
SUV car type are majorly preferred due to versatility and cargo space. Additionally, lesser price, higher grade of comfort, bigger trunk space, and more have all aided the SUV’s demand.
By Type of Transmission
The market is overpowered by the Automatic Transmission as most of the Americans prefer automatics owing to the greater utilitarian cars and convenience of not having to shift gears. Moreover, it allows people to fiddle with their phones, search for music, or look at their GPS.
By Type of Fuel
The USA Used car market by Type of Fuel is dominated by Petrol fuel as cars operating on petrol are chosen considering factors like petrol engines are cheaper to repair, higher engine power and are more responsive compared to diesel fuel. They can easily be converted into CNG if desired.
By Private and Commercial
Private Vehicles overpower the market due to factors like rapid economic changes where middle-class customers are experiencing faster growth in income and are spending more on automobiles as Americans usually prefer to have a private vehicle for various purposes
Miles Driven
Consumers prefer Used cars in good condition with average kms driven between 100,000-200,000 Miles as vehicles that has higher mileage are most-likely to be costlier than a similar vehicle with fewer miles.
By Age of the Car
The market by Age of car is conquered by 10+ years old car where the average life of a car which has been witnessed in the country is 12.1 years, with an average run of 10,567 miles/year.
By Region wise Dealerships
South region of USA dominates the market due to the highest number of registered vehicles along with presence of large number of dealerships & used car exchanges in this region.
By Brand
Toyota Brand leads the market with the highest sale volume due to its high resale value and moderate maintenance of the car.
Comparative Landscape in USA Used Car Market
The USA used car market is moderately fragmented market with presence of multiple players in the industry. Top 3 players namely CarMax, TrueCar and Carvana together dominate the market share. Key competitive parameters include number of listings, brand availability, financing options, locations covered, value added services, warranty period, and commission charged.
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USA Used Car Market Outlook and Projections
Efforts to transform the industry into a more organized one by players is expected to positively impact the sales. Online used car websites are adding certified dealers to their current model, which gives brand name to dealers & trust for buyers. Additionally, use of advanced technologies such as AI to valuate car online by looking at the pictures only, 360-degree view of the interiors of the car, etc., to enhance digital experience of consumers and larger number of independent & multi-brand dealers are expected to shift towards online platforms increasing their digital presence and more are expected to drive the USA Used Car market in the near future.
USA Used Car Key Segmentation Covered:-
By Market Structure
Organized Sector
Unorganized Sector
Organized Sector
Multi-Brand Non-Franchise
Online e-Commerce Local Dealers
OEM Certified
Unorganized Sector
C2C Transactions
Auction (B2C)
Local Dealerships
By Type of Car
SUV
Pickup Truck
Hatchback
Sedan
Luxury
Others
By Type of Transmission
Manual Transmission
Automatic Transmission
By Type of Fuel
Petrol
Diesel
Others
By Private or Commercial
Private
Commercial
By Miles Driven
20,000- 45,000 Miles
45,000-100,000 Miles
100,000-200,000 Miles
Above 200,000 Miles
By Age of the Car
0-2 Years
2-5 Years
5-10 Years
More than 10 Years
By Region-wise Dealerships
South
West
Mid-West
North East
By Brand
Toyota
GM
Ford
Stellantis
Hyundai-Kia
Honda
Nissan
Volkswagen
Others
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Key Target Audience:-
Used Car Companies
OEMs
Multi-Brands
Online Used Car Portals
Used Car Financing Companies
Government Bodies
Investors & Venture Capital Firms
Used Car Dealerships
Used Car Industry
Used Car Manufacturing Companies
Used Car Distributors
Used Car Auction Houses
Used Car Associations
Time Period Captured in the Report:-
Historical Year: 2016-2020
Base Year: 2021
Forecast Period: 2022–2026F
Companies Covered:
Major Franchised- Multi-Brands
EnterPrise Car Sales
Penske Automotive Group Inc.
Hertz Car Sales
North West Motor Sport
Asbury Automotive
AutoNation Inc.
STG Auto Group
Group 1 Automotive Inc
CarSoup
Sonic Automotive – Echopark
Avis Budget Car Sales
Major Marketplace Companies
Cars.com
TrueCar
CarGurus
Major Auction Market Players
Manheim
Greater Rockford Auction Group
ServNet
Copart Inc.
McConkey Auction
KAR Auction Services
ACV Auctions
Auto Auction Mall
Major Online E-Commerce Platform
CarMax
Carvana
Vroom
Shift Technologies
Key Topics Covered in the Report:-
USA Automotive Market Overview
USA Used Car Market Overview
USA Used Car Auction Market
USA Used Car Finance Market
USA Online E-commerce Used Car Market
Market Ecosystem
Value chain Analysis
Customer Buying Journey in USA
Decision Making Parameters for Customers
Offline and Online Business Models
Detailed Analysis on USA Used Car Market (Market Size, 2021; Market Segmentations, 2021; Competition Analysis; Future Market Size and Segmentations, 2026F; Future Trends and Way Forward
Snapshot on Online Used Car Platforms in USA
Snapshot of Used Car Auction House in USA
Snapshot of Finance Market in USA
Business Opportunity (Customer Profile Analysis)
Analyst Recommendations
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