The Global Used Vehicle Industry Generated $ 1.25 Tn Revenue In 2022-Explore, How The Market Will Further Shape In Future? : Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Inflation, High price of new vehicles, Availability of used vehicles at lower prices are major factors contributing towards development of Global Used Vehicle Market. 1. Data reveals that COVID-19 has affected the demand for Used Vehicles in a highly positive manner all over the globe To Know More about this report, download a Free Sample Report Due to the impact of COVID-19, there has been a substantial decrease in the denominator (new vehicle sales) while the numerator, i.e., the pre-owned vehicle market, has been relatively stable. In 2020, the market became much distorted that used vehicle prices became comparable with the cost of brand-new vehicles. Supply and stock problems coupled with high prices are pushing the customers towards the used vehicle market. After falling to $ 600 Bn in early 2020 it since pushed all-time highs of $ 1.25 Tn in 2022. 2. Popularity of used vehicles among mid aged consumers According to the analysis, individuals in the age group 30-60 acquired more than 50% of the used vehicle sales volume. The demand is basically fueled by the consumers not wanting to buy new vehicles due to several factors, including the cost of licenses, and the decline in the vehicle’s value once they are licensed. It is to be noted that younger generation (18-30) accounted for the second most preferred used vehicle sales volume while the older generation (>60) accounted for only a small percent of the sales volume. 3. The future comprises much of digital dominance- “The role of social media on global used vehicle market” Visit This link Request for Custom Report The global Used Vehicle Market is almost entirely dependent on social media. Vehicle dealers use blogs to generate traffic to their website from search engine results pages. They often put-up educational content related to vehicles maintenance, help guides, knowledge material in order to create a brand presence which helps them in the long run. Moreover, unlike online portals and market places, social media provides an opportunity to dealers to advertise their vehicles for free which in turn increases their profit. Social media platforms like Facebook (60% dominance), Twitter (20% dominance), YouTube (20% dominance), etc. are also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events which increases their popularity among the masses. For more insights on the market intelligence, refer to the link below:- Global Used Vehicle Market Follow Us Facebook | Twitter | LinkedIn | Instagram Post Views: 1 Tags: 2 years old used vehicle Market, Auto Nation Multi-Brand Outlets Global Income, Competitors Pre-owned Vehicle Market Global, Droom Used Bike Market Revenue, E-platform players Global Used Automobile Market, Emerging Players in Second Hand Vehicle Market, Europe Used Four Wheelers Industry, Funds Raised Startups Pre-Owned Vehicles Global, Global Multi-Purpose Used Vehicles, Global OEM Certified Used Vehicle Dealers, Global Pre-Owned Vehicle Market, Global Reused Four Wheelers Industry, Global Second-Hand Vehicle Industry, Global Second-hand Vehicle Market Challenges, Global Used Automobiles Sector, Global Used Multi-Brand Automobile Dealership, Global Used Truck Industry, Global Used Two-Wheeler Sector, Global Used Vehicle Market, Global Used Vehicle Market Trends, Global Used Vehicles Companies, Group 1 Automotive Used Vehicle Financed Growth, Hertz Corporation Company market share, Investment Used Vehicle Global, Leading Players in Global Used Vehicle Market, Lithia Motors Used Vehicle Retail Market, Major players in Global Used Vehicle Market, Number of Global Financed Used Vehicle, Number of Online Global Used Vehicle Platform, Number of Used Vehicle Sale Global, Number of Verified Used Vehicle Sellers Globally, Organized Used Vehicle Market Global, Pre-owned Global Four-Wheeler Market Opportunities, Pre-owned Vehicle Multi-Brand Outlets Global, Top 5 Funded Second Hand Vehicles in Global, Top Captive players in Global Used Vehicle Industry, Triumph Motorcycles Used Bike Revenue, True Vehicle Inc Pre-Owned Vehicle Revenue, Type of Used Vehicle sold Globally, Unorganized Global Second-hand Vehicle Sector, Used Vehicle Sector Outlook Global, Yamaha Certified Pre-Owned Vehicles Customer Base