Dublin, March 04, 2024 (GLOBE NEWSWIRE) -- The "Used Car Market in US 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The US Used Car Market is on an upward trajectory, with an anticipated USD 35.96 billion increase between 2022 and 2027, with a compound annual growth rate (CAGR) of 4.14%.
The detailed report presents a holistic view of the market, offering insights into size, forecasts, emerging trends, and the driving factors behind the market's expansion.
A noteworthy shift toward used cars as an exceptional value-for-money proposition is notably propelling the market's growth. Other significant factors include the declining ownership cycle of cars and substantial technology enhancements in passenger vehicles.
Segmentation of the used car market reveals a focus on:
- Third-party channel sales
- OEM channel sales
and product categories such as:
- Mid-size
- Full-size
- Compact-size vehicles
From a geographic standpoint, the research outlines the US as a key player in North America's used car industry.
Emerging trends like increased online platform penetration for used car sales and innovative car vending machines are forecasted to stimulate market growth significantly. Additionally, an enhanced focus on touchpoint management exemplifies the industry's evolution.
Identifying Market Leaders
The report includes a robust analysis of established vendors that are expected to excel in the market. Reliability and comprehensive research underpin the in-depth vendor landscape presented within this industry analysis. It is poised to aid clients looking to elevate their market position.
The study underlines pivotal market strategies alongside the identification of trends and challenges that could influence growth. Such insights assist businesses in crafting well-informed strategies to harness expected growth opportunities.
Companies Profiled:
- AutoNation Inc.
- CarMax Inc.
- Carvana Co.
- General Motors Co.
- Group 1 Automotive Inc.
- Hendrick Automotive Group
- Hertz Global Holdings Inc.
- Lithia Motors Inc.
- Penske Automotive Group Inc.
- Sonic Automotive Inc.
- Vroom Inc.
- Asbury Automotive Group Inc.
For more information about this report visit https://www.researchandmarkets.com/r/1xywb5
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.
