Egypt used car is expected to register robust growth in the
forecast period, 2023-2027. Some of the widely preferred used cars include
hatchbacks, sedans, and sports utility vehicles. They are usually sold through
walk-in used-car stores, independent automobile dealerships and online
platforms utilizing organized or unorganized channels. Dealing in used cars
helps in reducing the depreciation of the vehicle, provides full assurance and
warranty of the vehicle and facilitates affordability and savings for the
buyer. The enhancing focus of online players on integration of novel
technologies and building a strong sales network to provide complete view of
car to customers. With the help of digital transformation across several
industries, new age Auto tech start-ups are emerging to disrupt the used car
market. All these aforementioned factors playing a vital role in stimulating
the growth of the used car market.
Introduction of
E-Commerce and Online Technologies Augments the Market Growth
Continuous advancements
in technology including the development of the internet and rising use of
e-commerce sites/applications are escalating the demand for business. The
introduction of hybrid and the electric vehicle has changed the buyer position
in the market. With the aid of online technologies, consumers are becoming
knowledgeable regarding the vehicle, its residual value, third party profit
margin and others. The elevating levels of urbanization, increase in internet
connectivity, and developments in the telecom sector have enabled for a
much-better information flow for people. These factors are being rapidly
utilized by used cars owners to advertise their vehicles and spread the details
about them. This online platform has further increased the sales process and
allows more stakeholders to sell and buy cars.
Increase in Demand for
Off-Lease Cars & Subscription Service by the Franchise Drives the Market
Growth
The growing competition
in the market and the threat of new entries are some of the major factors that
boost the growth of the used cars dealership business. The reliable and add on
service has changed the perspective of consumers toward the used automobile
business. Moreover, franchised dealers with support from OEM involvement in
certification and marketing programs, online inventory pooling, and access to
high-quality contracts are in a strong position to benefit from the growth in
the used cars market. The escalating demand for the vehicle subscription
services in the recent year which allows consumers to utilizing a vehicle on
monthly basis by paying a monthly fee, which includes maintenance, insurance,
and roadside assistance. Modified technology and introduction of new models of
vehicles at short intervals enable customers to sell or exchange their old
vehicle with a new vehicle which supports the market growth. Such value for
money benefit has led to the rise in growth of the used cars industry in the
upcoming years.
Rise in Demand for car
Sharing Services is Expected to Flourish the Market Growth
Car sharing has grown at
a significant rate in the last few years. The traditional round-trip model is
not the only car-sharing model offered. At present times, various companies are
adding more flexible options including free-floating, one-way station-based,
and peer-to-peer car sharing. Car-sharing service companies are expanding their
network every day due to the increase in demand. In addition to this, these
companies buy used cars to serve their customers which propels the market
growth. There has been an increase in the demand for personal transport on
account of the surge in COVID-19 cases. Furthermore, people who cannot afford
to buy a car opt for car-sharing services which is expected to boost the
product demand in the coming years.
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Market Segmentation
The Egypt used car is segmented into vehicle type, fuel type, end use, regional distribution, and competitive
landscape. Based on vehicle type, the market is divided into small
cars, mid-size cars, luxury cars. Based on fuel type, the market is segmented
into petrol/gasoline, diesel, others. Based on end use, the market is bifurcated into institutional,
individual. The Egypt used car market is studied in major regions namely Cairo,
Alexandria, Giza, Qalyubia, Port Said, Suez and others.
CarSemsar, contactcars.com,
El Masria Auto, El Hawi Auto Trade, MM Group for Industry & Intl. Trade, El
Qersh Trade, Alfa Motors, Auto Rimo, Meme Auto Trade, Al Maadi Company are the
key market players operating in Egypt used car market.
|
Attribute
|
Details
|
|
Base Year
|
2021
|
|
Historic Data
|
2017 – 2020
|
|
Estimated Year
|
2022
|
|
Forecast Period
|
2023 – 2027
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021
and 2022-2027
|
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
|
·
Vehicle Type
·
Fuel Type
·
End Use
|
|
Regional scope
|
Cairo, Alexandria, Giza, Qalyubia, Port
Said, Suez
|
|
Key companies profiled
|
CarSemsar, contactcars.com, El Masria Auto, El Hawi Auto
Trade, MM Group for Industry & Intl. Trade, El Qersh Trade, Alfa Motors,
Auto Rimo, Meme Auto Trade, Al Maadi Company
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet
your exact research needs. Explore purchase
options
|
|
Delivery Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, Egypt used car market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
·
Egypt Used Car Market, By Vehicle Type:
o Small Cars
o Mid-Size Cars
o Luxury Cars
·
Egypt Used Car Market,
By Fuel Type:
o Petrol/Gasoline
o Diesel
o Others
·
Egypt Used Car Market,
By End Use:
o Petrol/Gasoline
o Diesel
o Others
·
Egypt Used Car Market,
By Region:
o
Cairo
o
Alexandria
o
Giza
o
Qalyubia
o
Port
Said
o
Suez
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Egypt used car market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
o Detailed analysis and profiling of
additional market players (up to five).
Egypt used car is an upcoming report
to be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]