Report Description

The global used car market was valued at USD 813.79 billion in the year 2021 and it is expected to grow at a CAGR of 9.40% through 2027 due to the shortage of semiconductors and microchips, which are hurting the production of new cars. At the global level, the demand for used cars is increasing as they are more cost-effective compared to new cars, all these reasons are expected to drive the global used car market in the upcoming five years.   

The spread of the COVID-19 pandemic has affected the automotive industry in many ways. Due to COVID-19 many automotive companies have faced losses as the production capacity was halted due to the decrease in demand for new vehicles. To stop the spread of the pandemic, almost all the automotive factories, showrooms, and workshops were closed, resulting in a significant decline in production and sales of new cars across the globe. Many countries across the globe imposed lockdowns which adversely impacted the economic condition of most of the countries across the Asia-Pacific, Middle-East, and Africa regions. and the lower-income buyer’s preference for used cars increased further over new cars.

Low Price of Used Cars

Over the time, people’s standard of living across the globe has improved. Many people are willing to buy a private car to fulfil their daily mobility requirements. Nowadays more and more young people are showing interest toward purchasing a second-hand car, as the used car is more cost-effective as compared to a new car, while buying the used car buyers save a purchase tax compared to a new car. The price of a used car is almost 50% lower than a new car, which means that the price-performance ratio of a used car is sufficient over the new car. The subsequent value preservation rate for the used car is acceptable, at the time of buying the used car which has been driven for a year, its hedging rate does not fluctuate so much, which is completely acceptable. For all these reasons, used cars are exponentially more affordable than buying a new car.

Less Depreciation

Used cars have less depreciation rate than the new car. The moment when the new cars are driven by the owners, the value of the new car begins to depreciate. The value of a new car can depreciate by as much as 30% depending on the car. During the second and third years of a new car, the value depreciates gets at a much slower rate, from 5% to 8%. In the fourth year of a new car, the depreciation value jumps up to 15% as the warranties expire and mileage has accumulated. The used car depreciation rate is much less than the new car. Owing to the less depreciation rate in used cars, demand for used cars increased over the year in many countries of Asia-Pacific and in the Middle East and the African region, which is driving the global used car market.

Changing Consumer Perception

The good condition used cars are changing the mindset of buyers regarding new cars as the attractive value price offered by the used car is making the people buy the used car over the new car. When the COVID-19 pandemic started, many country’s governments had to restrict public gatherings and also reduce the availability of public transport. Due to less public transport availability, the demand for the personal mobility is increased, and used cars come as a prominent option for buyers as they are much cost-effective as compared to a new car. The increase in nuclearization and urbanization are also the key factors for the growth of the global used car market.

Suitable for new drivers to practice

When the newcomers buy a new car and drive it for the first time it can be risky for them as they may meet an accident. As they need a car to hone their driving skills, then a used car comes as a good option for them as the buying cost is low compared to new car. Used cars have many benefits over the new car by which the younger one gets attracted toward the good condition used car. By increasing demand for the used car among the buyer, the sales of used cars will increase in the coming up year this will drive the global used car market.


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Market Segmentation

The global used car market is segmented based on vehicle type propulsion type, by sales channel, by end use, and by region Based on vehicle type, the market is further segmented into hatchback, sedan, and SUV/MPV. Based on the propulsion type, the market is bifurcated into internal combustion engine and electric. Under vehicle type, sedan segment for dominated the market with a total share of 35.12% in the year 2021 among the other vehicles. The Asia-Pacific region has the largest market share, accounting for 28.95% as of the year 2021.

Company Profiles

CarMax, Inc, AutoNation, Inc, Hendrick Automotive Group (North Carolina, U.S.), Penske Automotive Group, Inc, Arnold Clark Automobiles Limited, Others (Includes Maruti True value, Guazi, Uxin Group, etc). The company is among the major market players in used cars that lead the market growth of the global used car market.

Attribute

Details

Market size value in 2021

USD813.79 Billion

Revenue Forecast in 2027

USD1375.65 Billion

Growth Rate

9.40%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2022 – 2027F

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

  •          By Vehicle Type
  •            By Propulsion Type
  •            By Sales Channel
  •           By End Use
  •            By Region

Region Scope

Asia-Pacific, Europe, North America, South America, and Middle East & Africa.  

Key Companies Profiled

CarMax, Inc, AutoNation, Inc, Hendrick Automotive Group (North Carolina, U.S.), Penske Automotive Group, Inc, Arnold Clark Automobiles Limited, Others (Includes Maruti True value, Guazi, Uxin Group, etc.)

Customization Scope

10% free report customization with purchase. Addition or alteration to country, 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/pdf format on special request)

 

Report Scope:

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

  • Global Used Car Market, By Vehicle Type:
    • Sedan
    • SUV/MPV
    • Hatchback
  • Global Used Car Market, By Propulsion Type:
    • Internal Combustion Engine
    • Electric
  • Global Used Car Market, By Sales Channel:
    • Offline
    • Online
  • Global Used Car Market, By End Use:

o   Individual

o   Institutional

  • Global Used Car Market, By Region
    • Asia-Pacific
    • Europe
    • South America
    • North America
    • Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global 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).

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology 

3.    Executive Summary

4.    Impact of COVID-19 on Global Used Car Market

5.    Voice of Customer

5.1.1.     Factors Influencing Purchase Decision

5.1.2.     Sources of Information

5.1.3.     Challenge/Unmet Needs

6.    Global Used Car Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume and Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Hatchback, Sedan, SUV/MPV)

6.2.2.     By Propulsion Type (Internal combustion Engine, Electric)

6.2.3.     By Sales Channel (Offline, Online)

6.2.4.     By End Use (Individual, Institutional)

6.2.5.     By Region

6.2.6.     By Company (2021)

6.3.  Market Map (By Vehicle Type, By Propulsion Type, By Sales Channel, By End Use, By Region)

7.    Asia-Pacific Used Car Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume and Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Propulsion Type

7.2.3.     By Sales Channel

7.2.4.     By End Use

7.2.5.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Used Car Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Volume and Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Vehicle Type

7.3.1.2.2.             By Propulsion Type

7.3.1.2.3.             By Sales Channel

7.3.1.2.4.             By End Use

7.3.2.     Japan Used Car Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Volume and Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Vehicle Type

7.3.2.2.2.             By Propulsion Type

7.3.2.2.3.             By Sales Channel

7.3.2.2.4.             By End Use

7.3.3.     India Used Car Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Volume and Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Vehicle Type

7.3.3.2.2.             By Propulsion Type

7.3.3.2.3.             By Sales Channel

7.3.3.2.4.             By End Use

7.3.4.     South Korea Used Car Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Volume and Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Vehicle Type

7.3.4.2.2.             By Propulsion Type

7.3.4.2.3.             By Sales Channel

7.3.4.2.4.             By End Use

7.3.5.     Thailand Used Car Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Volume and Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Vehicle Type

7.3.5.2.2.             By Propulsion Type

7.3.5.2.3.             By Sales Channel

7.3.5.2.4.             By End Use

8.    Europe Used Car Market

8.1.  Market Size & Forecast

8.1.1.     By Volume and Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Propulsion Type

8.2.3.     By Sales Channel

8.2.4.     By End Use

8.2.5.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France Used Car Market

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Volume and Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Vehicle Type

8.3.1.2.2.             By Propulsion Type

8.3.1.2.3.             By Sales Channel

8.3.1.2.4.             By End Use

8.3.2.     Germany Used Car Market

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Volume and Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Vehicle Type

8.3.2.2.2.             By Propulsion Type

8.3.2.2.3.             By Sales Channel

8.3.2.2.4.             By End Use

8.3.3.     United Kingdom Used Car Market

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Volume and Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Vehicle Type

8.3.3.2.2.             By Propulsion Type

8.3.3.2.3.             By Sales Channel

8.3.3.2.4.             By End Use

8.3.4.     Italy Used Car Market

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Volume and Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Vehicle Type

8.3.4.2.2.             By Propulsion Type

8.3.4.2.3.             By Sales Channel

8.3.4.2.4.             By End Use

8.3.5.     Spain Used Car Market

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Volume and Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Vehicle Type

8.3.5.2.2.             By Propulsion Type

8.3.5.2.3.             By Sales Channel

8.3.5.2.4.             By End Use

9.    North America Used Car Market

9.1.  Market Size & Forecast

9.1.1.     By Volume and Value

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type

9.2.2.     By Propulsion Type

9.2.3.     By Sales Channel

9.2.4.     By End Use

9.2.5.     By Country

9.3.  North America: Country Analysis

9.3.1.     United State Used Car Market

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Volume and Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Vehicle Type

9.3.1.2.2.             By Propulsion Type

9.3.1.2.3.             By Sales Channel

9.3.1.2.4.             By End Use

9.3.2.     Canada Used Car Market

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Volume and Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Vehicle Type

9.3.2.2.2.             By Propulsion Type

9.3.2.2.3.             By Sales Channel

9.3.2.2.4.             By End Use

9.3.3.     Mexico Used Car Market

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Volume and Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Vehicle Type

9.3.3.2.2.             By Propulsion Type

9.3.3.2.3.             By Sales Channel

9.3.3.2.4.             By End Use

10.  South America Used Car Market

10.1.              Market Size & Forecast

10.1.1.  By Volume and Value

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Type

10.2.2.  By Propulsion Type

10.2.3.  By Sales Channel

10.2.4.  By End Use

10.2.5.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Used Car Market

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Volume and Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Vehicle Type

10.3.1.2.2.           By Propulsion Type

10.3.1.2.3.           By Sales Channel

10.3.1.2.4.           By End Use

10.3.2.  Argentina Used Car Market

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Volume and Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Vehicle Type

10.3.2.2.2.           By Propulsion Type

10.3.2.2.3.           By Sales Channel

10.3.2.2.4.           By End Use

10.3.3.  Colombia Used Car Market

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Volume and Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Vehicle Type

10.3.3.2.2.           By Propulsion Type

10.3.3.2.3.           By Sales Channel

10.3.3.2.4.           By End Use

11.  MEA Used Car Market

11.1.              Market Size & Forecast

11.1.1.  By Volume and Value

11.2.              Market Share & Forecast

11.2.1.  By Vehicle Type

11.2.2.  By Propulsion Type

11.2.3.  By Sales Channel

11.2.4.  By End Use

11.2.5.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Used Car Market

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Volume and Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Vehicle Type

11.3.1.2.2.           By Propulsion Type

11.3.1.2.3.           By Sales Channel

11.3.1.2.4.           By End Use

11.3.2.  Turkey Used Car Market

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Volume and Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Vehicle Type

11.3.2.2.2.           By Propulsion Type

11.3.2.2.3.           By Sales Channel

11.3.2.2.4.           By End Use

11.3.3.  Iran Used Car Market

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Volume and Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Vehicle Type

11.3.3.2.2.           By Propulsion Type

11.3.3.2.3.           By Sales Channel

11.3.3.2.4.           By End Use

11.3.4.  UAE Used Car Market

11.3.4.1.      Market Size & Forecast

11.3.4.1.1.           By Volume and Value

11.3.4.2.      Market Share & Forecast

11.3.4.2.1.           By Vehicle Type

11.3.4.2.2.           By Propulsion Type

11.3.4.2.3.           By Sales Channel

11.3.4.2.4.           By End Use

11.3.5.  Saudi Arabia Used Car Market

11.3.5.1.      Market Size & Forecast

11.3.5.1.1.           By Volume and Value

11.3.5.2.      Market Share & Forecast

11.3.5.2.1.           By Vehicle Type

11.3.5.2.2.           By Propulsion Type

11.3.5.2.3.           By Sales Channel

11.3.5.2.4.           By End Use

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.              CarMax,Inc

14.2.              AutoNation, Inc.

14.3.              Hendrick Automotive Group (North Carolina, U.S.)

14.4.              Penske Automotive Group, Inc

14.5.              Arnold Clark Automobiles Limited

14.6.              Asbury Automotive Group

14.7.              Mahindra First Choice Wheels

14.8.              Lithia Motor Inc.

14.9.              TrueCar, Inc. (California, U.S.)

14.10.            CarGurus, Inc.

15.  Strategic Recommendations

16.  About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1

Global Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 2

Global Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 4

Global Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 6

Global Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 8

Global Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 10

Global Used Car Market Share, By Region, By Volume, 2017-2027F

Figure 12

Global Used Car Market Share, By Company, By Volume, 2021

Figure 13

Global Used Car Market Map, By Vehicle Type, Market Size (Million Units) & Growth Rate (%)

Figure 14

Global Used Car Market Map, By Propulsion Type, Market Size (Million Units) & Growth Rate (%)

Figure 15

Global Used Car Market Map, By Sales Channel, Market Size (Million Units) & Growth Rate (%)

Figure 16

Global Used Car Market Map, By End Use, Market Size (Million Units) & Growth Rate (%)

Figure 17

Global Used Car Market Map, By Region, Market Size (Million Units) & Growth Rate (%)

Figure 18

Asia-Pacific Used Car Market Size, By Volume (Million Units), By Value (USD Billion) 2017-2027F

Figure 19

Asia-Pacific Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 20

Asia-Pacific Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 21

Asia-Pacific Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 22

Asia-Pacific Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 23

Asia-Pacific Used Car Market Share, By Country, By Volume, 2017-2027F

Figure 24

China Used Car Market Size, By Volume (Million Units), By Value (USD Billion) 2017-2027F

Figure 25

China Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 26

China Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 27

China Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 28

China Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 34

Japan Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 35

Japan Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 36

Japan Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 37

Japan Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 38

Japan Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 29

India Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 30

India Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 31

India Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 32

India Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 33

India Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 39

South Korea Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 40

South Korea Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 41

South Korea Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 42

South Korea Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 43

South Korea Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 44

Thailand Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 45

Thailand Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 46

Thailand Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 47

Thailand Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 48

Thailand Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 49

Europe Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 50

Europe Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 51

Europe Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 52

Europe Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 53

Europe Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 54

Europe Used Car Market Share, By Country, By Volume, 2017-2027F

Figure 65

United Kingdom Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 66

United Kingdom Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 67

United Kingdom Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 68

United Kingdom Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 69

United Kingdom Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 60

Germany Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 61

Germany Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 62

Germany Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 63

Germany Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 64

Germany Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 55

France Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 56

France Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 57

France Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 58

France Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 59

France Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 70

Italy Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 71

Italy Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 72

Italy Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 73

Italy Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 74

Italy Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 75

Spain Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 76

Spain Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 77

Spain Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 78

Spain Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 79

Spain Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 80

North America Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 81

North America Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 82

North America Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 83

North America Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 84

North America Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 85

North America Used Car Market Share, By Country, By Volume, 2017-2027F

Figure 86

United State Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 87

United State Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 88

United State Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 89

United State Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 90

United State Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 91

Canada Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 92

Canada Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 93

Canada Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 94

Canada Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 95

Canada Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 96

Mexico Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 97

Mexico Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 98

Mexico Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 99

Mexico Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 100

Mexico Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 101

South America Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 102

South America Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 103

South America Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 104

South America Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 105

South America Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 106

South America Used Car Market Share, By Country, By Volume, 2017-2027F

Figure 107

Brazil Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 108

Brazil Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 109

Brazil Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 110

Brazil Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 111

Brazil Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 112

Argentina Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 113

Argentina Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 114

Argentina Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 115

Argentina Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 116

Argentina Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 117

Colombia Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 118

Colombia Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 119

Colombia Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 120

Colombia Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 121

Colombia Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 122

MEA Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 123

MEA Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 124

MEA Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 125

MEA Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 126

MEA Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 127

MEA Used Car Market Share, By Country, By Volume, 2017-2027F

Figure 133

Turkey Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 134

Turkey Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 135

Turkey Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 136

Turkey Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 137

Turkey Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 138

Iran Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 139

Iran Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 140

Iran Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 141

Iran Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 142

Iran Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 148

Saudi Arabia Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 149

Saudi Arabia Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 150

Saudi Arabia Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 151

Saudi Arabia Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 152

Saudi Arabia Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 128

South Africa Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 129

South Africa Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 130

South Africa Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 131

South Africa Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 132

South Africa Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Figure 143

UAE Used Car Market Size, By Volume (Million Units), By Value (USD Billion), 2017-2027F

Figure 144

UAE Used Car Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 145

UAE Used Car Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 146

UAE Used Car Market Share, By Sales Channel, By Volume, 2017-2027F

Figure 147

UAE Used Car Market Share, By End Use Type, By Volume, 2017-2027F

Frequently asked questions

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The Asia-Pacific region has the largest market share with a total market share of 28.95% in the global used car market in 2021 and North America is expected to be the fastest-growing with a growth rate of 14.79% during the forecast years.

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The global used car market is estimated at about USD 813.79 billion in 2021 and is expected to grow a CAGR of 3.82% during the forecast period.

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Some of the key players in the global used car market include CarMax, Inc, AutoNation, Inc, Hendrick Automotive Group (North Carolina, U.S.), Penske Automotive Group, Inc, Arnold Clark Automobiles Limited and Others

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Used cars are more cost-effective as compared to new cars and they can be used by new drivers to learn how to drive without worrying about any damage they might cause to the car. These are some major drivers for the global used car market.

profile

Srishti Verma

Business Consultant
Press Release

Used Car Market to grow at 9.40% CAGR in Value Terms by 2027

Aug, 2022

Increasing preference for a used car as it is very cost-effective compared to a new car is to drive the global used car market through 2027.