USA Used Car Market Research Report to 2026: Ken Research
How is the used car Market Positioned in USA?
Market Overview:
The Used Car Market in USA has seen constant growth over the years supported by the increase in millennials population in the country along with the entry of emergent players into the market. The rising trend in used car over new cars indicates the buyer preference of purchasing used cars. Factors as fast increasing disposable income per household, greater supply in the market, and a move towards organized and transparent trade will drive the used-car market. Growth is further supported by manufacturer’s investments in expanding the network of used cars dealers, building the brand and enabling customers to choose this option.
Majority of customers prefer used cars of average age, with more kilometers driven as used car at that segment offers attractive and affordable options with SUV’s and Pickup Trucks being the major choice by type of car. Car dealers are emphasizing on providing integrated user-friendly platforms to ease the buyer’s journey of used cars. These trends and developments are changing the used car industry on a positive note with promising future growth.
The Used Car Market in USA are segmented on the basis of total number of used car units sold with a CAGR of ~% over the period 2016-2021 with total revenue generated ~% in USD Bn.
USA Used Car Market
USA Used Car Market has grown at an increasing growth rate over the period 2016-2021 with ~% CAGR, supported by the opportunities like digital transformation, growing trend of upgrading vehicles and more.
USA Used Car Market Segmentation
By Market Structure: The Organized Car market structure has dominated the USA Used market owing to the promising value-added services like warranty, certification; convenient buying experience and more.
By Organized Sector
In the Organized sector, Multi-Brand Franchised conquers the market, being the most popular type of player in USA, as they have more corpus to purchase inventory, and further sell it off to the consumers as they deal with both new and used cars.
By Unorganized Sector
In the Unorganized sector, C2C transactions constitute the major proportion of the market due to the strong preference to less-aged cars and popular brands with good resale value which attracts consumers.
By Type of Car
SUV car type are majorly preferred due to versatility and cargo space. Additionally, lesser price, higher grade of comfort, bigger trunk space, and more have all aided the SUV’s demand.
By Type of Transmission
The market is overpowered by the Automatic Transmission as most of the Americans prefer automatics owing to the greater utilitarian cars and convenience of not having to shift gears. Moreover, it allows people to fiddle with their phones, search for music, or look at their GPS.
By Type of Fuel
The USA Used car market by Type of Fuel is dominated by Petrol fuel as cars operating on petrol are chosen considering factors like petrol engines are cheaper to repair, higher engine power and are more responsive compared to diesel fuel. They can easily be converted into CNG if desired.
By Private and Commercial
Private Vehicles overpower the market due to factors like rapid economic changes where middle-class customers are experiencing faster growth in income and are spending more on automobiles as Americans usually prefer to have a private vehicle for various purposes
By Miles Driven:
Consumers prefer used cars in good condition with average kms driven between 100,000-200,000 Miles as vehicles that has higher mileage are most-likely to be costlier than a similar vehicle with fewer miles.
By Age of the Car:
The market by Age of car is conquered by 10+ year’s old car where the average life of a car which has been witnessed in the country is 12.1 years, with an average run of 10,567 miles/year.
By Region wise Dealerships:
South region of USA dominates the market due to the highest number of registered vehicles along with presence of large number of dealerships & used car exchanges in this region.
By Brand:
Toyota Brand leads the market with the highest sale volume due to its high resale value and moderate maintenance of the car.
Competition Landscape in USA used car Market
The USA used car market is moderately fragmented market with presence of multiple players in the industry. Top 3 players namely CarMax, True Car and Carvana together dominate the market share. Key competitive parameters include number of listings, brand availability, financing options, locations covered, value added services, warranty period, and commission charged.
USA used car market Future Outlook and Projections
The USA Used Car Market is expected to grow at ~% CAGR on the basis of Revenue and ~% on the basis of Sales Volume in Units. Efforts to transform the industry into a more organized one by players is expected to positively impact the sales. With the market at rebound stage, factors such as attractive pricing, easy financing option, digital advancement, use of advanced technologies such as AI to valuate car online by looking at the pictures only, 360-degree view of the interiors of the car and more are to enhance digital experience of consumers will drive the used car market in the near future.
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USA Used Car Key Segmentation Covered:-
By Market Structure
Organized Sector
Unorganized Sector
Organized Sector
Multi-Brand Non-Franchise
Online e-Commerce Local Dealers
OEM Certified
Unorganized Sector
C2C Transactions
Auction (B2C)
Local Dealerships
By Type of Car
SUV
Pickup Truck
Hatchback
Sedan
Luxury
Others
By Type of Transmission
Manual Transmission
Automatic Transmission
By Type of Fuel
Petrol
Diesel
Others
By Private or Commercial
Private
Commercial
By Miles Driven
20,000- 45,000 Miles
45,000-100,000 Miles
100,000-200,000 Miles
Above 200,000 Miles
By Age of the Car
0-2 Years
2-5 Years
5-10 Years
More than 10 Years
By Region-wise Dealerships
South
West
Mid-West
North East
By Brand
Toyota
GM
Ford
Stellantis
Hyundai-Kia
Honda
Nissan
Volkswagen
Others
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Key Target Audience:-
Used Car Companies
OEMs
Multi-Brands
Online Used Car Portals
Used Car Financing Companies
Government Bodies
Investors & Venture Capital Firms
Used Car Dealerships
Used Car Industry
Used Car Manufacturing Companies
Used Car Distributors
Used Car Auction Houses
Used Car Associations
Time Period Captured in the Report:-
Historical Year: 2016-2020
Base Year: 2021
Forecast Period: 2022–2026F
Companies Covered:
Major Franchised- Multi-Brands
EnterPrise Car Sales
Penske Automotive Group Inc.
Hertz Car Sales
North West Motor Sport
Asbury Automotive
AutoNation Inc.
STG Auto Group
Group 1 Automotive Inc
CarSoup
Sonic Automotive – Echopark
Avis Budget Car Sales
Major Marketplace Companies
Cars.com
TrueCar
CarGurus
Major Auction Market Players
Manheim
Greater Rockford Auction Group
ServNet
Copart Inc.
McConkey Auction
KAR Auction Services
ACV Auctions
Auto Auction Mall
Major Online E-Commerce Platform
CarMax
Carvana
Vroom
Shift Technologies
Key Topics Covered in the Report:-
USA Automotive Market Overview
USA Used Car Market Overview
USA Used Car Auction Market
USA Used Car Finance Market
USA Online E-commerce Used Car Market
Market Ecosystem
Value chain Analysis
Customer Buying Journey in USA
Decision Making Parameters for Customers
Offline and Online Business Models
Detailed Analysis on USA Used Car Market (Market Size, 2021; Market Segmentations, 2021; Competition Analysis; Future Market Size and Segmentations, 2026F; Future Trends and Way Forward
Snapshot on Online Used Car Platforms in USA
Snapshot of Used Car Auction House in USA
Snapshot of Finance Market in USA
Business Opportunity (Customer Profile Analysis)
Analyst Recommendations
For more information on the research report, refer to below link:-
USA Used Car Market: Ken Research
Related Reports:-
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