USA Used Car Market Outlook to 2026: Ken Research

The report titled USA Used Car Market Outlook to 2026 – Driven by an influx of digital players along with consumer demand for personal mobility and affordable pricing provides a comprehensive analysis of the used car market and sales in USA. The report covers overview and genesis of the industry, used car market size in terms of total revenue generated for the total used car volume sales with average price of used car and used to new car ratio; along with Used car finance market size, Used car auction market size, Online e-commerce used car market size. It also includes snapshot on Online used Car market, trends and developments, issues and challenges and comparative landscape including competition scenario based on cross comparison in USA. The report concludes with future market projections of each used car segmentation and Analyst recommendations for Marketing & Promotional Strategies.

USA Used Car Market Overview

USA Used Car market has grown at a steady growth rate over the past few years supported by increase in population in the country along with the rising trends of upgrading the cars over the years. Factors like fast growing disposable income, rising demand for premium cars, shorter period of car ownership, and increasing preference of the owner are driving the growth of Used Car sales. Growth is further supported by manufacturer’s investments in expanding the network of used cars dealers, building the brand and enabling customers to choose.

USA Used Car Market Size and Segmentation

The USA Used Car market has grown with from 2016 to 2021 due to COVID-19 being one of the biggest drivers as it compelled people have a personal vehicle to avoid use of public transportation for protective measures. Automakers for more than a year now have been battling through a semiconductor chip shortage that has sporadically halted production of new vehicles, causing record-low inventories of vehicles and higher prices. These circumstances have pushed many buyers into the Used-car market.

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 along with increased awareness about buying and selling used cars through online advertisements and publicity.

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.

usa-used-car-industry

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.

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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

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+ years 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.

Comparative 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, TrueCar 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.

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USA Used Car Market Outlook and Projections

Efforts to transform the industry into a more organized one by players is expected to positively impact the sales. Online used car websites are adding certified dealers to their current model, which gives brand name to dealers & trust for buyers. Additionally, 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, etc., to enhance digital experience of consumers and larger number of independent & multi-brand dealers are expected to shift towards online platforms increasing their digital presence and more are expected to drive the USA Used Car market in the near future.

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 Industry

Related Reports:-

Australia Used Car Market Outlook to 2026F – Driven by the consumer shift to online platforms and supply chain issues for new vehicles with an increasing trend of upgrading vehicles

Egypt Used Car Market Outlook To 2026 – Driven By Shift In Consumer Demand Along With Growth Of Online Used Car Platforms And Availability Of Financing Options

Philippines Used Car Market Outlook To 2026 (Third Edition): Driven By The Pandemic Incited New Opportunities For Used Car Dealers And Increased Penetration In The Online Space For Used Car Transactions

Vietnam Used Car Market Outlook To 2026 (Second Edition): Driven By Growing Disposable Income And Shifting Consumer Preference From Two-Wheelers To Four-Wheelers

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Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
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