US used car market is expected to register
growth at CAGR over 8% 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.
The market can be further
segmented into vehicle type, sector, fuel type and region. Based on vehicle
type, the market can be separated into small cars, mid-size cars and luxury
cars. Mid-size cars and small cars are the most growing 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
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, less registration fees and less insurance price are reason
to positively influence the demand for used cars in the US.
Major players operating in the
country’s used car market include, Honda, Ford, Toyota, Chevrolet, Nissan, among others. most of the companies are
developing advanced technologies and producing new products in order to compete
in competitive market. Other competitive strategies include mergers &
acquisitions and new product developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the
- To analyze and forecast US used car market
- 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
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in US used
- To conduct the pricing analysis for US used
- To identify and analyze the profile of leading
players operating in US used car market.
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TechSci Research does both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research derived
a list of used car sellers 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 sellers that
are not being identified due to the limitations of secondary research. TechSci
Research analyzed the product offerings, distribution channels and availability
of all major used car providers across the country.
TechSci Research computed US used car market size by using a bottom-up approach, where data for different
end-user segments was recorded and forecast for the future years. TechSci
Research derived these values from the industry experts and company
representatives and externally validated through analyzing previous data of
these product types and applications for getting an exact, 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
- Research organizations and consulting
- 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.
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:
- Market, by Fuel Type:
- Market, by Region:
- South East
- South West
- North East
Company Profiles: Detailed analysis of the major
companies present in US used car market.
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:
- Detailed analysis and
profiling of additional market players (up to five).