Report Description

US Used Car Market By Vehicle Type (Small Cars, Mid-Size Cars and Luxury Cars), By Sector (Organized Vs. Semi-Organized/Unorganized), By Fuel Type (Petrol, Diesel and CNG), Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 70
  • Industry : Automotive

US used car market is expected to register growth during the forecast period, on account of increasing proliferation of websites selling used cars, discounted after-sales services or insurance offered by used car sellers, and high rate of interest and high prices of new vehicles in the country. In 2018, number of new vehicles sold in the United States was 17.21 million, while the number was double for used vehicles in the country with 40.42 million units in the reported year.

The market can be segmented based on vehicle type, sector, fuel type and region. On the basis of vehicle type, the market can be segmented into small cars, mid-size cars and luxury cars. Mid-size cars and small cars are the major segments in the market. On account of increasing demand for mid-size cars comprising SUVs, sedans and crossovers, the segment is likely to register significant growth during the forecast period.

In terms of regional analysis, the market can be segmented into West, Midwest, North East, South West and South East. Owing to increasing demand for vehicles and presence of local players, South East region is expected to witness growth in the country’s used car market in coming years. Moreover, low registration fees and reduced insurance cost are expected to positively influence the demand for used cars in the US.

Major players operating in the country’s used car market include CarMax, Inc., AutoNation, Inc., Penske Automotive Group Inc., Sonic Automotive Inc., Group 1 Automotive Inc., Ken Garff Automotive Group, Lithia Motors Corp., Hendrick Automotive Group, Asbury Automotive Group Inc. and McLarty Automotive. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Carmax, Inc. is the leading player in used car market in the US with over 0.67 million unit sales in 2017.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast US used car market size.
  • To classify and forecast US used car market based on vehicle type, sector, fuel type and regional distribution.
  • To identify drivers and challenges for US used car market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in US used car market.
  • To conduct the pricing analysis for US used car market.
  • To identify and analyze the profile of leading players operating in US used car market.


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Some of the leading players in US used car market include CarMax, Inc., AutoNation, Inc., Penske Automotive Group Inc., Sonic Automotive Inc., Group 1 Automotive Inc., Ken Garff Automotive Group, Lithia Motors Corp., Hendrick Automotive Group, Asbury Automotive Group Inc. and McLarty Automotive.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of used car providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the used car providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major used car providers across the country.

TechSci Research calculated US used car market size by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.


Key Target Audience:

  • Car Manufacturers
  • Car Component Manufacturers
  • Traders, Distributors, and Suppliers
  •  Research organizations and consulting companies
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to used car market   

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as used car providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, US used car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, by Vehicle Type:
    • Small Cars
    • Mid-Size Cars
    • Luxury Cars
  • Market, by Sector:
    • Organized
    • Semi-Organized/Unorganized
  • Market, by Fuel Type:
    • Petrol
    • Diesel
    • CNG
  • Market, by Region:
    • South East
    • South West
    • West
    • North East
    • Midwest

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in US 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

  • Detailed analysis and profiling of additional market players (up to five).

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