North America Used Car Market Size- By Technology, By Vendor Type, By Propulsion, By Dealership, By Sales Channel, By Vehicle Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033

North America Used Car Market Size- By Technology, By Vendor Type, By Propulsion, By Dealership, By Sales Channel, By Vehicle Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033

North America Used Car Market Introduction and Overview

According to SPER market research, North America Used Car Market Size – By Technology, By Vendor Type, By Propulsion, By Dealership, By Sales Channel, By Vehicle Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the North American Second Hand Cars Market is predicted to reach USD 5.98 billion by 2033 with a CAGR of 9.89%.

A used, pre-owned, or second hand car is one that has had one or more retail owners in the past. Auctions, private sales, buy-here-pay businesses, franchised and independent auto dealers, rental car companies, and leasing offices are a few locations where you can acquire used cars. Some car sellers offer extended service contracts or warranties, “no-haggle prices,” and “certified” pre-owned cars. Consumers now have access to a different market thanks to the introduction of electric and hybrid cars as well as technical developments like the internet.

The COVID-19 pandemic affected the North American used automobile market and changed consumer behavior and market dynamics significantly. Widespread lockdowns and economic uncertainty caused many prospective purchasers to postpone purchases, which decreased demand for old cars. This drop was most noticeable in the early phases of the epidemic, when people prioritized necessities above frivolous spending.

Scope of the Report:

Report Metric Details
Market size available for years 2020-2033
Base year considered 2023
Forecast period 2024-2033
Segments covered By Technology, By Vendor Type, By Propulsion, By Dealership, By Sales Channel, By Vehicle Type
Regions covered United States, Canada, Mexico

Companies Covered

Asbury Automotive Group, AutoNation, Inc, CarMax Business Services, Cox Automotive, eBay Inc, Group1 Automotive, Inc., HELLMAN & FRIEDMAN LLC, Hendrick Automotive Group, Lithia Motors, Inc, Manheim, TrueCar, Inc, VROOM.

North America Used Car Market Segmentation:

By Vendor Type:Based on the Vendor Type, North America Used Car Market is segmented as; Organized, Unorganized.

By Propulsion:Based on the Propulsion, North America Used Car Market is segmented as; Petrol, Diesel, CNG, LPG, Electric, Others.

By Dealership:Based on the Dealership, North America Used Car Market is segmented as; Franchised, Independent.

By Sales Channel: Based on the Sales Channel, North America Used Car Market is segmented as; Online, Offline.