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USA Used Car Market Outlook to 2026

Driven by an influx of digital players along with consumer demand for personal mobility and affordable pricing

Region:North America

Author(s):Vassuman Agarwal, Anne Sivia and Aujaswi Agarwal

Product Code:KR1192

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Published on

September 2022

Total pages

120

Table of Content

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About the Report

About the Report

The report titled “USA Used Car Market Outlook to 2026 – Driven by an influx of digital players along with consumer demand for personal mobility and affordable pricing” provides a comprehensive analysis of the used car market and sales in USA. The report covers overview and genesis of the industry, used car market size in terms of total revenue generated for the total used car volume sales with average price of used car and used to new car ratio; along with Used car finance market size, Used car auction market size, Online e-commerce used car market size. It also includes snapshot on Online used Car market, trends and developments, issues and challenges and comparative landscape including competition scenario based on cross comparison in USA. The report concludes with future market projections of each used car segmentation and Analyst recommendations for Marketing & Promotional Strategies.


USA Used Car Market Overview
USA Used Car market has grown at a steady growth rate over the past few years supported by increase in population in the country along with the rising trends of upgrading the cars over the years. Factors like fast growing disposable income, rising demand for premium cars, shorter period of car ownership, and increasing preference of the owner are driving the growth of Used Car sales. Growth is further supported by manufacturer’s investments in expanding the network of used cars dealers, building the brand and enabling customers to choose.

USA Used Car Market Size and Segmentation
The USA Used Car market has grown with from 2016 to 2021 due to COVID-19 being one of the biggest drivers as it compelled people have a personal vehicle to avoid use of public transportation for protective measures. Automakers for more than a year now have been battling through a semiconductor chip shortage that has sporadically halted production of new vehicles, causing record-low inventories of vehicles and higher prices. These circumstances have pushed many buyers into the Used-car market.

USA Used Car Market Segmentation
  • By Market Structure:
The Organized Car market structure has dominated the USA Used market owing to the promising value-added services like warranty, certification; convenient buying experience and more along with increased awareness about buying and selling used cars through online advertisements and publicity.
  • By Organized Sector:
In the Organized sector, Multi-Brand Franchised conquers the market, being the most popular type of player in USA, as they have more corpus to purchase inventory, and further sell it off to the consumers as they deal with both new and used cars.
  • By Unorganized Sector:
In the Unorganized sector, C2C transactions constitute the major proportion of the market due to the strong preference to less-aged cars and popular brands with good resale value which attracts consumers.
  • By Type of Car:
SUV car type are majorly preferred due to versatility and cargo space. Additionally, lesser price, higher grade of comfort, bigger trunk space, and more have all aided the SUV’s demand.
  • By Type of Transmission:
The market is overpowered by the Automatic Transmission as most of the Americans prefer automatics owing to the greater utilitarian cars and convenience of not having to shift gears. Moreover, it allows people to fiddle with their phones, search for music, or look at their GPS.
  • By Type of Fuel:
The USA Used car market by Type of Fuel is dominated by Petrol fuel as cars operating on petrol are chosen considering factors like petrol engines are cheaper to repair, higher engine power and are more responsive compared to diesel fuel. They can easily be converted into CNG if desired.
  • By Private and Commercial:
Private Vehicles overpower the market due to factors like rapid economic changes where middle-class customers are experiencing faster growth in income and are spending more on automobiles as Americans usually prefer to have a private vehicle for various purposes
  • Miles Driven:
Consumers prefer Used cars in good condition with average kms driven between 100,000-200,000 Miles as vehicles that has higher mileage are most-likely to be costlier than a similar vehicle with fewer miles.
  • By Age of the Car:
The market by Age of car is conquered by 10+ years old car where the average life of a car which has been witnessed in the country is 12.1 years, with an average run of 10,567 miles/year.  
  • By Region wise Dealerships:
South region of USA dominates the market due to the highest number of registered vehicles along with presence of large number of dealerships & used car exchanges in this region.
  • By Brand:
Toyota Brand leads the market with the highest sale volume due to its high resale value and moderate maintenance of the car.

Comparative Landscape in USA Used Car Market
The USA used car market is a moderately fragmented market with the presence of multiple players in the industry.  The top 3 players namely CarMax, TrueCar and Carvana together dominate the market share. Key competitive parameters include the number of listings, brand availability, financing options, locations covered, value-added services, warranty period, and commission charged.

USA Used Car Market Outlook and Projections
Efforts to transform the industry into a more organized one by players is expected to positively impact the sales. Online used car websites are adding certified dealers to their current model, which gives brand name to dealers & trust for buyers. Additionally, the use of advanced technologies such as AI to evaluate cars online by looking at the pictures only, 360-degree view of the interiors of the car, etc., to enhance the digital experience of consumers and a larger number of independent & multi-brand dealers are expected to shift towards online platforms increasing their digital presence and more are expected to drive the USA Used Car market in the near future.

USA Used Car Key Segmentation Covered
  • By Market Structure
  • Organized Sector
  • Unorganized Sector
  • Organized Sector
  • Multi-Brand Non-Franchise
  • Online e-Commerce Local Dealers
  • OEM Certified
  • Unorganized Sector
  • C2C Transactions
  • Auction (B2C)
  • Local Dealerships
  • By Type of Car
  • SUV
  • Pickup Truck
  • Hatchback
  • Sedan
  • Luxury
  • Others
  • By Type of Transmission
  • Manual Transmission
  • Automatic Transmission
  • By Type of Fuel
  • Petrol
  • Diesel
  • Others
  • By Private or Commercial
  • Private
  • Commercial
  • By Miles Driven
  • 20,000- 45,000 Miles
  • 45,000-100,000 Miles
  • 100,000-200,000 Miles
  • Above 200,000 Miles
  • By Age of the Car
  • 0-2 Years
  • 2-5 Years
  • 5-10 Years
  • More than 10 Years
  • By Region-wise Dealerships
  • South
  • West
  • Mid-West
  • North East
  • By Brand
  • Toyota
  • GM
  • Ford
  • Stellantis
  • Hyundai-Kia
  • Honda
  • Nissan
  • Volkswagen
  • Others
Key Target Audience
  • Used Car Companies
  • OEMs
  • Multi-Brands
  • Online Used Car Portals
  • Used Car Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firms
  • Used Car Dealerships
  • Used Car Industry
  • Used Car Manufacturing Companies
  • Used Car Distributors
  • Used Car Auction Houses
  • Used Car Associations
Time Period Captured in the Report:
  • Historical Year: 2016-2020
  • Base Year: 2021
  • Forecast Period: 2022–2026F
Companies Covered:
Major Franchised- Multi-Brands
  • EnterPrise Car Sales
  • Penske Automotive Group Inc.
  • Hertz Car Sales
  • North West Motor Sport
  • Asbury Automotive
  • AutoNation Inc.
  • STG Auto Group
  • Group 1 Automotive Inc
  • CarSoup
  • Sonic Automotive - Echopark
  • Avis Budget Car Sales
Major Marketplace Companies
  • com
  • TrueCar
  • CarGurus
Major Auction Market Players
  • Manheim
  • Greater Rockford Auction Group
  • ServNet
  • Copart Inc.
  • McConkey Auction
  • KAR Auction Services
  • ACV Auctions
  • Auto Auction Mall
Major Online E-Commerce Platform
  • CarMax
  • Carvana
  • Vroom
  • Shift Technologies
Key Topics Covered in the Report
  • USA Automotive Market Overview
  • USA Used Car Market Overview
  • USA Used Car Auction Market
  • USA Used Car Finance Market
  • USA Online E-commerce Used Car Market
  • Market Ecosystem
  • Value chain Analysis
  • Customer Buying Journey in USA
  • Decision Making Parameters for Customers
  • Offline and Online Business Models
  • Detailed Analysis on USA Used Car Market (Market Size, 2021; Market Segmentations, 2021; Competition Analysis; Future Market Size and Segmentations, 2026F; Future Trends and Way Forward
  • Snapshot on Online Used Car Platforms in USA
  • Snapshot of Used Car Auction House in USA
  • Snapshot of Finance Market in USA
  • Business Opportunity (Customer Profile Analysis)
  • Analyst Recommendations

Products

Products

USA Used Car Key Segmentation Covered

  • By Market Structure
  • Organized Sector
  • Unorganized Sector
  • Organized Sector
  • Multi-Brand Non-Franchise
  • Online e-Commerce Local Dealers
  • OEM Certified
  • Unorganized Sector
  • C2C Transactions
  • Auction (B2C)
  • Local Dealerships
  • By Type of Car
  • SUV
  • Pickup Truck
  • Hatchback
  • Sedan
  • Luxury
  • Others
  • By Type of Transmission
  • Manual Transmission
  • Automatic Transmission
  • By Type of Fuel
  • Petrol
  • Diesel
  • Others
  • By Private or Commercial
  • Private
  • Commercial
  • By Miles Driven
  • 20,000- 45,000 Miles
  • 45,000-100,000 Miles
  • 100,000-200,000 Miles
  • Above 200,000 Miles
  • By Age of the Car
  • 0-2 Years
  • 2-5 Years
  • 5-10 Years
  • More than 10 Years
  • By Region-wise Dealerships
  • South
  • West
  • Mid-West
  • North East
  • By Brand
  • Toyota
  • GM
  • Ford
  • Stellantis
  • Hyundai-Kia
  • Honda
  • Nissan
  • Volkswagen
  • Others

Key Target Audience

  • Used Car Companies
  • OEMs
  • Multi-Brands
  • Online Used Car Portals
  • Used Car Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firms
  • Used Car Dealerships
  • Used Car Industry
  • Used Car Manufacturing Companies
  • Used Car Distributors
  • Used Car Auction Houses
  • Used Car Associations

Time Period Captured in the Report:

  • Historical Year: 2016-2020
  • Base Year: 2021
  • Forecast Period: 2022–2026F


Companies

Companies Covered:

Major Franchised- Multi-Brands

  • EnterPrise Car Sales
  • Penske Automotive Group Inc.
  • Hertz Car Sales
  • North West Motor Sport
  • Asbury Automotive
  • AutoNation Inc.
  • STG Auto Group
  • Group 1 Automotive Inc
  • CarSoup
  • Sonic Automotive - Echopark
  • Avis Budget Car Sales

Major Marketplace Companies

  • com
  • TrueCar
  • CarGurus

Table of Contents

Table of Contents

1. Executive Summary

2. Country Overview of USA Used Car Market

2.1 USA Country Overview

2.1USA Population Analysis

3. USA Automotive Market Overview

3.1 Snapshot on USA Automotive Market

3.2 Passenger Car Landscape in USA

3.3 Import and Export of Passenger Cars in USA

3.4 Passenger Car Pricing in USA Market

4. USA Used Car Market Overview and Genesis

4.1 Ecosystem of USA Used Car Market

4.2 Business Cycle of USA Used Car Market

4.3 Value Chain Analysis

4.4 Step-by-step Sales Process

4.5 Role of Entities in Value Chain Analysis

4.6 Sourcing of Used Cars for Dealers

4.7 Lead Generation for Used Cars

4.8 USA New Car Sales, 2016-2021

4.9 USA Used Car Market Size, 2016-2021

5. USA Used Car Market Segmentations

5.1 By Type of Market Structure, 2021

5.2 By Type of Organised and Unorganised, 2021

5.3 By Type of Car, 2021

5.4 By Type of Fuel, 2021

5.5 By Transmission, 2021

5.6 By Private or Commercial, 2021

5.7 By Miles Driven, 2021

5.8 By Age of the Car, 2021

5.9 By Region-wise Dealerships, 2021

5.10 By Brand, 2021

6. Customer Profile of Used Car Market in USA

6.1 Customer Analysis By Age and By Gender, 2021

6.2 Customer Analysis By Ethnicity and Income, 2021

6.3 Customer Pain Points in Used Car Industry

6.4 Key Factors and Price Determinants Influencing Used Car Purchasing Decision

6.5 Factors Influencing Brand popularity

7. Snapshot on Major Franchised Multi Brands Used Car Platforms in USA

7.1 Purchase Evolution of Used Car Platforms

7.2 Transactional platforms in Used Car industry

7.3 Used car journey on Online platforms in USA

7.4 Existing Business Frameworks

7.5 Competition Scenario: Positioning of Auto Classifieds in USA

7.6 Existing and Emerging Online Retails Models in USA Used Car Market

7.7 Cross Comparison of Major Online Auto-Classifieds

8. Snapshot on Major Marketplace Used Car Companies in USA

8.1 Market Size of Online E-commerce Used Car Platform

8.2 Cross Comparison of E-commerce Used Car Players

9. Snapshot on Used Car Auction Market in USA

9.1 Car Auction Industry Overview

9.2 Comparison of Major Auction Market Players

10. Snapshot on Used Car Financing Market in USA

10.1 Used Car Financing Ecosystem in USA

10.2 Used Car Financing Industry Overview

10.3 Cross Comparison of Major Financial institutes

11. Competition Framework for USA Used Car Market

11.1 Brand Perception Mapping

11.2 Cross Comparison of Major OEMs (Inception Year, No. of Branches/Showrooms, Used Car Sales, Best Selling Model, Inventory, Warranty, Value added Services, Sourcing, Inspection Check, Online Presence Funding)

11.3 Cross Comparison of Major Multi-Brands (Inception Year, No. of Branches/Showrooms, Used Car Sales, Best Selling Model, Inventory, Warranty, Value added Services, Sourcing, Inspection Check, Online Presence, Funding)

12. USA Used Car Market Industry Analysis

12.1 SWOT Analysis of USA Used Car Market

12.2 Trends and Recent Development's in the USA Used Car Market

12.3 Issues and Challenges in the USA Used Car Market

12.4 Buying Criteria of the customers

12.5 Selling Criteria Used by the Players

12.6 Findings on Consumer Analysis

12.7 Government Regulations

13. Outlook and Future Projections for USA Used Car Market

13.1 USA New Car Market Size, 2021-2026F

13.2 USA Used Car Market Size, 2021-2026F

13.3 USA Used Car Market Segmentation by Market Structure, 2026F

13.4 USA Used Car Market Segmentation by Type of Car, 2026F

13.5 USA Used Car Market Segmentation by Type of Transmission and Type of Fuel, 2026F

13.6 USA Used Car Market Segmentation by Miles Driven and Private or Commercial, 2026F

13.7 USA Used Car Market Segmentation by Age of the Car and by Region-wise Dealerships, 2026F

13.8 USA Used Car Market Segmentation by Brand, 2026F

13.9 Future Trends and the Way Forward

14. Case Study Analysis

14.1 International Case Study – CarSwitch, UAE

14.1 International Case Study – CarsTrade, India

14.3 International Case Study – Cars24, India

15. Analyst Recommendations

15.1 Analyst’s Take on Future Market Positioning

16. Research Methodology

16.1 Market Definitions

16.2 Abbreviations Used

16.3 Market Sizing Approach

16.4 Consolidated Research Approach

16.5 Sample Size Inclusion

16.6 Research Limitations and Future Conclusion

12. Disclaimer

13. Contact Us

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