Used Car Market In UK 2023-2027
The used car market in UK is forecasted to grow by USD 34.22 bn during 2022-2027, accelerating at a CAGR of 6.03% during the forecast period. The report on the used car market in UK provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by excellent value for money proposition of used cars, reducing ownership cycle of cars, and increasing technological innovations in passenger cars.
Technavio's used car market in UK is segmented as below:
By Channel
By Vehicle Type
By Type
This study identifies the improved touchpoint management as one of the prime reasons driving the used car market in UK growth during the next few years. Also, vending machine platform for dispensing used cars and increased penetration of websites dedicated to selling used cars will lead to sizable demand in the market.
The report on the used car market in UK covers the following areas:
- Used car market in UK sizing
- Used car market in UK forecast
- Used car market in UK industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading used car market in UK vendors that include Alibaba Group Holding Ltd., Aramis Group, Arnold Clark Automobiles Ltd., Auto Trader Group Plc, Bauer Media Group, Car Giant Ltd., Carcraft.co.UK, CarGurus Inc., CarMax Inc., Cazoo Ltd., Cinch Cars Ltd., Constellation Automotive Group Ltd., Group 1 Automotive Inc., Hertz Global Holdings Inc., Lithia Motors Inc., McCarthy Cars UK Ltd., Penske Corp., Toyota Motor Corp., TrueCar Inc., and Motors.co.UK Ltd.. Also, the used car market in UK analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.