global Used Car Trading Market Overview:
Used car trading E-commerce is platform give online shopping experience of used cars. This platform help end user to find perfect within requirement and within budget used car in online way. Due to increasing demand for used cars and convenience of online shopping give rise to the used car trading E-commerce market. Consumer able to purchase used cars due to their reasonable prices as compare to new car and recent advancement in e-commerce give rise to demand of used car trading E-commerce.
|Value (USD Million)
|Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility
Increasing demand of used cars
Market Growth Drivers:
Convenience of online shopping, Ease the process of decision making for customer and E-commerce websites let customers make simpler purchasing decisions by giving price comparison, technical certification, warranty, and simple returns all in one location.
Rise of fraudulent intermediaries in used car trading E-commerce market, Price transparency of used vehicles, Foreign vehicles' inability to comply with pollution requirements cannot be transferred and Lack of management in offline and online services
Stringent government regulation
Technical development such as AI and machine learning in e-commerce platform
Used car trading E-commerce market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Autotrader Inc. (United States), CarsDirect (United States), CarGurus. Inc. (United States), Hemmings (New England), Autolist (United States), autoTempest (United States), TrueCars (United States), cars.com (United States), Gauzi.com (China) and Kelly Blue Book Co (United States). Considering Market by Vendor type, the sub-segment i.e. Organized will boost the Used Car Trading market. Considering Market by Price, the sub-segment i.e. Low will boost the Used Car Trading market. Considering Market by Style, the sub-segment i.e. Sedan will boost the Used Car Trading market.
Latest Market Insights:
In January 2020, CarGurus announced acquisition of Autolist, an innovative car shopping platform. The acquisition broadens CarGurus' market-leading customer base and made achievable for company to develop its distinctive value offer for paying dealers. Thus, this acquisition strengthened the company’s market position
In August 2022, Gubagoo announced partnership with AutoTrader, Canada. GuBAGOO is digital retailing and messaging solution provider this partnership will help AutoTrader to deliver seamless digital shopping experience to car shoppers and better presence in market.
What Can be Explored with the Used Car Trading Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the global Used Car Trading Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Used Car Trading
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the global Used Car Trading market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Used Car Trading market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Used car trading E-commerce platforms, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.