Used Cars Market Report 2026

The used cars market size has grown strongly in recent years. It will grow from $1.44 trillion in 2025 to $1.53 trillion in 2026 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rising vehicle ownership demand, depreciation advantage of used cars, urban mobility needs, expansion of dealer networks, affordability constraints.

The used cars market size is expected to see strong growth in the next few years. It will grow to $2.01 trillion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to digital marketplace adoption, economic uncertainty driving used car demand, ev penetration in used market, improved vehicle inspection technologies, data-driven pricing models. Major trends in the forecast period include growth of online used car platforms, rising demand from first-time buyers, increased preference for certified pre-owned vehicles, flexible financing options, expansion of subscription-based ownership.

The emergence of online platforms for used car sales worldwide is significantly driving the growth of the used cars market. These platforms are digital marketplaces that enable the listing, discovery, evaluation, and purchase of pre-owned vehicles through web and mobile interfaces. Their growth is fueled by the increasing consumer preference for transparent, convenient, and information-rich purchasing experiences, as digital channels allow buyers to compare options, review vehicle histories, and complete transactions more efficiently than traditional in-person methods. Used cars provide a broad range of affordable and readily available inventory, attracting consumers to online channels and reinforcing the expansion of digital marketplaces. For instance, in August 2024, according to UK car market statistics published by We Buy Any Car Ltd., a UK-based online car buying platform, a total of 1,963,395 used cars were sold in the UK during the second quarter of 2024 (April to June), reflecting a 7.2% year-over-year increase compared to the same period in 2023. Therefore, the emergence of online platforms for used car sales globally is significantly driving the growth of the used cars market.

Major companies in the used car market are focusing on enhancing services in digital automotive retail, such as same-day delivery, to offer faster and more convenient purchasing experiences. Same-day delivery refers to delivering a purchased vehicle to the customer within the same day through integrated online workflows and optimized logistics. For instance, in October 2025, Carvana Co., a U.S.-based online used-car company, launched same-day vehicle delivery in the greater San Diego area. This service allows customers to complete their purchase entirely online and receive their vehicle within hours, supported by Carvana’s e-commerce platform, first-party logistics fleet, and regional inspection and reconditioning centers.

In January 2025, Cars.com Inc., a US-based automotive technology company, acquired DealerClub for $25 million. This acquisition enables Cars.com Inc. to expand into the wholesale used-car market and enhance its platform with dealer-to-dealer digital auction capabilities. DealerClub is a US-based digital wholesale auction platform offering a reputation-based system for transparent and efficient vehicle transactions.

Major companies operating in the used cars market report include Hendrick Automotive Group, Group 1 Automotive Inc., Cox Automotive Inc., Asbury Automotive Group Inc., CarMax Business Services LLC, AutoNation Inc., Cars24 Services Private Limited, Carvana Co., Lithia Motors Inc., Mahindra First Choice Wheels Ltd., TrueCar Inc., Vroom Inc., Shift Technologies Inc., CarGurus Inc., Penske Automotive Group Inc., Sonic Automotive Inc., CarHop Auto Sales and Finance, Hertz Global Holdings Inc., Enterprise Holdings Inc., Avis Budget Group Inc., Budget Car Sales, Thrifty Car Sales, Off Lease Only, EchoPark Automotive Inc., CarSense, OffLeaseOnly. com, DriveTime Automotive Group Inc., CarsDirect. com LLC, KBB com LLC, Autolist Inc., Cars com Inc., Autotempest Inc.

Asia-Pacific was the largest region in the used cars market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the used cars market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the used cars market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The used cars market consists of sales of hybrid, sedan, coupe, convertible, CUV, wagon, and van. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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