Online Car Dealers in the US - Industry Market Research Report

Online Car Dealers in the US - Industry Market Research Report

Online Car Dealers in the US

The Online Car Dealers industry flourished alongside the unique conditions associated with COVID-19, which boosted e-commerce sales across multiple industries. Over the past five years, expanding disposable income has enabled consumers to make big-ticket purchases. A shortage of new cars owing to supply chain disruptions and a chip shortage sent demand for used cars soaring. Pandemic conditions compounded by supply shortages propped up online used car dealers like Carvana, which became one of the fastest-growing retail e-commerce companies in 2022. Over the past five years, revenue for online car dealers has surged at a CAGR of 3.5% to reach an estimated $44.3 billion in 2023.

This industry retails automobiles online to consumers and businesses and provides services to aid in the purchase of automobiles. Automobiles include passenger cars, trucks and sports utility vehicles (SUVs). Some players offer their customers trade-in, car financing and car selling services. This industry does not include classified websites that feature reviews, guides, photos and advertisements of new and used vehicles for sale.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.