Analysis of US Used Car Retail Market : Technology, Applications, Growth and Status 2018
The report entitled The US Used Car Retail Market: Size, Trends & Forecasts (2017-2021), provides analysis of the US used car retail market, with detailed analysis of market size by value, volume and segments.
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Moreover, the report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall used car retail market has also been forecasted for the years 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Autonation Inc., CarMax Inc., Sonic Automotive Inc. and Penske Automotive Group are some of the key players operating in the US used car retail market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.
Company Coverage
Autonation Inc.
CarMax Inc.
Sonic Automotive Inc.
Penske Automotive Group Inc.
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Executive Summary
A used car, also called as a pre-owned vehicle, or a secondhand car refers to a vehicle that formerly has had one or more than one retail owners. Independent, franchise car owners, leasing offices, rental car companies, auctions, and private parties are some of the channels via which used cars are sold to the consumers.
The US used car retail market can be divided on the basis of dealership and engine capacity. On the basis of dealership, the market can be classified into franchised dealers, independent dealers and private party sales. On the basis of engine capacity, the market can be divided into compact, mid and full size.
The US used car retail market is expected to increase at high growth rates during the forecast period (2017-2021). The US used car retail market is supported by various growth drivers, such as increasing disposable income, introduction of standalone stores in the US, incentives on new cars and rising share of CPO sales from franchised dealers.
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However, limited dealers offering hassle free customer experience and reducing consumer satisfaction with conventional used car process are some of the challenges associated with the market. Opportunities for new entrants and acceleration in sales of used cars via online channels are some of the latest trends in the market.
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