Used Car Global Strategic Business Report 2025: Impact of Online Platforms and E-Commerce, Expansion of Certified Pre-Owned (CPO) Programs, Opportunities in Financing and Insurance - Forecasts to 2030 - ResearchAndMarkets.com

The "Used Car - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Used Car was valued at USD 17.9 Billion in 2024 and is projected to reach USD 25.4 Billion by 2030, growing at a CAGR of 6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The used car market has grown exponentially in recent years, driven by a variety of factors that make pre-owned vehicles an attractive option for consumers. One of the primary drivers is affordability, as used cars offer significant cost savings compared to new models, allowing consumers to access higher-end vehicles at a lower price point. The wide selection of makes and models available in the used car market also caters to diverse consumer preferences, from budget-friendly options to luxury vehicles.

What Factors Are Driving the Growth of the Used Car Market?

The growth in the used car market is driven by several factors, including economic considerations, technological advancements, and shifting consumer preferences. Economic factors, such as inflation and the rising cost of living, are making used cars a more attractive option for budget-conscious consumers. The widespread adoption of digital platforms has made it easier for buyers to access a broader range of vehicles and has increased transparency in the market, boosting consumer confidence.

The growing popularity of certified pre-owned programs, which offer warranty coverage and vehicle inspections, is also driving demand by providing added assurance of quality and reliability. Additionally, the increasing durability of modern vehicles has extended their useful life, making used cars a more viable option for longer periods. Environmental concerns and the desire to reduce waste are further encouraging consumers to opt for used cars over new ones, contributing to the market's growth.

How Have Digital Platforms Transformed the Used Car Market?

Digital platforms have revolutionized the way used cars are bought and sold, making the process more transparent, convenient, and accessible. Online marketplaces and classified websites allow consumers to browse a vast inventory of vehicles from the comfort of their homes, compare prices, and read reviews, empowering them to make informed decisions.

The rise of e-commerce in the automotive sector has also led to the development of new business models, such as online-only dealerships that offer home delivery and test drives. Moreover, digital tools like vehicle history reports and online financing options have further streamlined the purchasing process, reducing the friction traditionally associated with buying a used car. These technological advancements have expanded the reach of the used car market, making it easier for buyers and sellers to connect across geographic boundaries.

Where Is the Used Car Market Experiencing the Most Growth?

The used car market is experiencing significant growth in both developed and emerging markets, driven by different factors in each region. In developed markets like North America and Europe, the demand for used cars is fueled by high new car prices and the increasing availability of certified pre-owned vehicles that come with warranties and quality assurances.

In emerging markets, particularly in Asia-Pacific and Latin America, the growing middle class and rising disposable incomes are driving demand for affordable vehicles, with used cars providing a viable entry point into vehicle ownership. Additionally, in countries where public transportation infrastructure is underdeveloped, used cars are often the preferred mode of transportation for many households. The global expansion of online marketplaces and financing options is also contributing to the growth of the used car market in regions where traditional car dealerships may be less prevalent.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as 2see Technology, 2trde, 360 Motors, A & R Motors, A&P Auto Parts and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Used SUV segment, which is expected to reach $10.1 Billion by 2030 with a CAGR of a 5.8%. The Used Sedan segment is also set to grow at 5.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $4.7 Billion in 2024, and China, forecasted to grow at an impressive 9.5% CAGR to reach $5.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Segments

• Size (SUV, Sedan, Hatchback)
• Vendor Type (Organized, Unorganized)

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Used Car - Global Key Competitors Percentage Market Share in 2025 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
• Global Economic Update

MARKET TRENDS & DRIVERS

• Growing Demand for Affordable Vehicles in Emerging Markets
• Impact of Online Platforms and E-Commerce on Used Car Sales
• Rising Consumer Trust and Transparency in Used Car Transactions
• Challenges in Quality Control and Certification of Used Cars
• Market Growth Driven by Increasing Vehicle Ownership Costs
• Technological Innovations in Vehicle History and Inspection Reports
• Expansion of Certified Pre-Owned (CPO) Programs by Automakers
• Opportunities in Financing and Insurance for Used Cars
• Impact of Electric Vehicles (EVs) on the Used Car Market

FOCUS ON SELECT PLAYERS: Some of the 46 major companies featured in this Used Car market report include

• 2see Technology
• 2trde
• 360 Motors
• A & R Motors
• A&P Auto Parts
• A-1 Auto Brokers
• A1 Motors
• Adaperio
• ADSCT Classified
• Agasta Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/mlka8h

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250416306142/en/