Used Car - Global Strategic Business Report

The global market for Used Car was estimated at US$17.9 Billion in 2024 and is projected to reach US$25.4 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Used Car market.

Global Used Car Market - Key Trends & Drivers Summarized

What Is Driving the Popularity of Used Cars?

The used car market has grown exponentially in recent years, driven by a variety of factors that make pre-owned vehicles an attractive option for consumers. One of the primary drivers is affordability, as used cars offer significant cost savings compared to new models, allowing consumers to access higher-end vehicles at a lower price point. The wide selection of makes and models available in the used car market also caters to diverse consumer preferences, from budget-friendly options to luxury vehicles. Additionally, the perception of used cars has shifted over time, with improvements in vehicle durability and reliability, as well as the availability of certified pre-owned programs, giving buyers more confidence in the quality of used cars. Furthermore, the economic uncertainty and inflationary pressures have made consumers more cautious with their spending, leading to a preference for the value proposition offered by used cars.

How Have Digital Platforms Transformed the Used Car Market?

Digital platforms have revolutionized the way used cars are bought and sold, making the process more transparent, convenient, and accessible. Online marketplaces and classified websites allow consumers to browse a vast inventory of vehicles from the comfort of their homes, compare prices, and read reviews, empowering them to make informed decisions. The rise of e-commerce in the automotive sector has also led to the development of new business models, such as online-only dealerships that offer home delivery and test drives. Moreover, digital tools like vehicle history reports and online financing options have further streamlined the purchasing process, reducing the friction traditionally associated with buying a used car. These technological advancements have expanded the reach of the used car market, making it easier for buyers and sellers to connect across geographic boundaries.

Where Is the Used Car Market Experiencing the Most Growth?

The used car market is experiencing significant growth in both developed and emerging markets, driven by different factors in each region. In developed markets like North America and Europe, the demand for used cars is fueled by high new car prices and the increasing availability of certified pre-owned vehicles that come with warranties and quality assurances. In emerging markets, particularly in Asia-Pacific and Latin America, the growing middle class and rising disposable incomes are driving demand for affordable vehicles, with used cars providing a viable entry point into vehicle ownership. Additionally, in countries where public transportation infrastructure is underdeveloped, used cars are often the preferred mode of transportation for many households. The global expansion of online marketplaces and financing options is also contributing to the growth of the used car market in regions where traditional car dealerships may be less prevalent.

What Factors Are Driving the Growth of the Used Car Market?

The growth in the used car market is driven by several factors, including economic considerations, technological advancements, and shifting consumer preferences. Economic factors, such as inflation and the rising cost of living, are making used cars a more attractive option for budget-conscious consumers. The widespread adoption of digital platforms has made it easier for buyers to access a broader range of vehicles and has increased transparency in the market, boosting consumer confidence. The growing popularity of certified pre-owned programs, which offer warranty coverage and vehicle inspections, is also driving demand by providing added assurance of quality and reliability. Additionally, the increasing durability of modern vehicles has extended their useful life, making used cars a more viable option for longer periods. Environmental concerns and the desire to reduce waste are further encouraging consumers to opt for used cars over new ones, contributing to the market’s growth.

SCOPE OF STUDY:

The report analyzes the Used Car market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Size (SUV, Sedan, Hatchback); Vendor Type (Organized, Unorganized)
• Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the SUV segment, which is expected to reach US$10.1 Billion by 2030 with a CAGR of a 5.8%. The Sedan segment is also set to grow at 5.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $4.7 Billion in 2024, and China, forecasted to grow at an impressive 9.5% CAGR to reach $5.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Used Car Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Used Car Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Used Car Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as 2see Technology, 2trde, 360 Motors, A & R Motors, A&P Auto Parts and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 46 companies featured in this Used Car market report include:

• 2see Technology
• 2trde
• 360 Motors
• A & R Motors
• A&P Auto Parts
• A-1 Auto Brokers
• A1 Motors
• Adaperio
• ADSCT Classified
• Agasta Company Limited

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.