Market Research Future published a research report on the
Global Used Vehicle Market, which expected to progress with 5.3% CAGR from 2019
to 2025.
Used vehicles are second-hand vehicles that are available for
resale in economies dependent on two-wheelers and four-wheelers as a primary
mode for transportation. The global used
vehicle market report by Market Research Future (MRFR) covers the
historical performance of the market as well as trends and opportunities for
the period of 2019 to 2025 (forecast period). The COVID-19 outbreak and its
impact on the industry are covered in the report.
Market Scope
Major driving factors are transparency of used car salesmen,
penetration of the Internet, and demand for car subscription services. Rise in
disposable income levels of customers and growth witnesses in developing
economies can bode well for the market. Alternative to public transportation
and lack of presence of economically priced cars can favor the used vehicle
market demand.
The COVID-19 pandemic has proven to be lucrative for the
global used vehicle market owing to adherence to restriction of movement by
consumers as well as the rising cost of new vehicles. In addition, the large
number of used vehicles on websites coupled with various renowned used car
vehicle franchises planning to go public on the stock market with the help of
partners.
Competitive Outlook
HERTZ CAR SALES, Vroom, Inc., Manheim, Autonation, eBay,
TrueCar, Inc., PenskeCars, Autotrader, Inc., Alibaba Group, Sun Toyota, CarMax
Business Services, LLC, and Cox Automotive, Inc. are key players of the global
used vehicle market.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7616
Segmentation
On the basis of vehicle age, the market has been segmented
into 0-5, 6-10, 11-15, 15-20, and > 20 years old. On the basis of vehicle
type, the market has been segmented into light commercial vehicle, passenger
car, and heavy commercial vehicle. On the basis of propulsion, the market has
been segmented as internal combustion engine (ICE) and electric vehicle (EV),
wherein the electric vehicle segment is further segmented into plug-in EV,
battery EV, and hybrid EV. On the basis of sales channel, the segments are
rental car companies, franchised, independent car dealers, and others.
Regional Analysis
Asia Pacific is expected to hold the largest market share
during the forecast period owing to the growing automotive industry in India,
China, and Japan. Moreover, increased production and sales of SUVs is expected
to boost the demand for used vehicle in this region. Furthermore, the rise in
per capita disposable income in emerging economies, increasing population, and
urbanization can contribute to the growth of this market. The use of analytics
to gauge consumer demand as well as use of smartphones for scanning vehicles
from all sides can ensure transparency during the sales process.
If you have any requirements, let know and we will customize
the report according to your need.
Get More Information: https://www.marketresearchfuture.com/reports/used-vehicle-market-7616
TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Used Vehicle Market, By Segments
- Competitive Analysis
More…
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