Global Car E-Commerce Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Car E-Commerce Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Car E-Commerce refers to the buying and selling of cars or services using the internet, and the transfer of money and data to execute these transactions. It draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.

Market Overview:

The latest research study on the global Car E-Commerce market finds that the global Car E-Commerce market reached a value of USD 148820.36 million in 2022. It’s expected that the market will achieve USD 239723.8 million by 2028, exhibiting a CAGR of 8.27% during the forecast period.

Influence of COVID-19 Outbreak on Car E-Commerce Industry Development

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 27 million. Different industries are affected differently by the epidemic situation. And the COVID-19 epidemic has severely hit the global economy. The World Bank predicts that the global GDP (gross domestic product) will fall by 5.2% in 2020, which is the largest drop since the Second World War.

The impact of the epidemic on the Car E-Commerce industry will involve all major links and all entities in the industry chain. In order to avoid large-scale population movements and gatherings, various countries have adopted prevention and control measures such as home isolation and extension of the holiday. More and more cities are entering the first-level response state, strictly isolating measures, strictly prohibiting vehicle entry and exit, strictly controlling the flow of personnel, and strictly preventing the spread of the epidemic. This makes it impossible for non-local employees to return or arrive immediately, the number of employees is insufficient, and normal commuting is also severely frustrated. And people have nowhere to go even if they bought a car. Moreover, in the context of the global economic downturn, people's purchasing power and willingness to consume will decrease largely. Therefore, the Car E-Commerce industry will take a toll under the COVID-19 condition.

But meanwhile, the current severe epidemic also restricts people from going to 4S stores to see cars, and more consumers choose and buy cars through auto e-commerce, which stimulates the development of car e-commerce. When the pandemic has become less threatening, there is new demand from customers who are looking to reduce the risk of COVID-19 exposure on public transportation and from those looking to take advantage of quality offers and attractive financing. These factors mean the public is using personal vehicles now more than ever. as consumers weigh greater health concerns, they are more likely to want to complete the end-to-end shopping process virtually, instead of in-person.

Drivers of Car E-Commerce

Combination of rising internet penetration, a drop in data access costs, a shift to smartphones, and a flow of credit to consumers and micro enterprises are enhancing the eCommerce market. The global E-commerce industry is also in a state of expansion with consolidation. In addition, inflexion in online shopping among consumers, product localization, continued growth in SaaS systems, increased backing in technical solutions are also promoting the eCommerce market. More consumers are buying digitally, and worldwide retail E-commerce sales are rising. At the same time, the major international players such as Amazon Automotive and Alibaba are widening their reach by buying up smaller local platforms, especially in flourishing e-commerce markets.
The continuous adoption of e-commerce ensures a greater degree of flexibility and customization spending by purchasers of the automotive components. The growing inclination of consumers towards cross-border online shopping, highlights an increasing realization that buying from another country, where the cost are low, would involve lower prices and a wider range of products or brands. The internet, as a channel, will benefit greatly from the growing consumer awareness about cross-border purchasing because of its immediate advertising potential and the ease and speed, with which businesses can offer their products at best prices.
Moreover, E-commerce can bring to car manufacturers improved understanding of customer preferences and buying habits, greater control over their brand and the opportunity to increase profits by cutting costs, boosting market share and removing intermediaries. In addition to that, factors such as higher price transparency, and greater diversity of parts also support its growth. Rise in internet penetration, per capita income of the consumers, and the number of online shoppers also add to the growth. All these factors are important drivers behind the car e-commerce market.

Region Overview:

US had the highest growth rate of all regions.

Company Overview:

CarMax is one of the major players operating in the Car E-Commerce market, holding a share of 7.38% in 2020.CarMax, Inc. sells at retail used cars and light trucks. The Company purchases, reconditions, and sells used vehicles in its superstores and franchises throughout the United States.

Amazon Automotive

The company is an online retailer that offers a wide range of products. The Company products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. It offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

Segmentation Overview:

Among different product types, Used Car segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the B2C segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Car E-Commerce market covered in Chapter 3:

Edmunds
Cheyipai
AutoTrader
CarMax
AutoTempest
Amazon Automotive
Guazi.com
UXIN GROUP
Autolist
Kelley Blue Book
Carvana
Renrenche
CarGurus
CarsDirect

In Chapter 4 and Chapter 14.2, on the basis of types, the Car E-Commerce market from 2018 to 2029 is primarily split into:

New Car
Used Car
After-sales

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Car E-Commerce market from 2018 to 2029 covers:

B2B
B2C

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)