Global Used Car Market 2018-2022 | 5% CAGR Projection Through 2022 | Technavio

Technavio has announced its latest market research report titled global used car market 2018-2022 (Graphic: Business Wire)

LONDON--()--The global used car market is expected to grow by 27.15 million units during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

Factors such as the rise in the purchasing power of households, availability of credit payment options, and advances in automotive technologies have increased the sale of passenger cars. In addition, many existing car owners prefer to upgrade to newer versions. This is encouraging automotive OEMs to launch newer car models at competitive pricing to increase sales and gain a competitive edge in the market. Hence, the growing number of new car models has increased the availability of used cars in the market. These factors are driving the growth of the global used car market.

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As per Technavio, OEMs shifting to online portals for the sale of used cars will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

Global Used Car Market: OEMs Shifting to Portals for Used Cars

Increasing penetration of online connectivity and services is encouraging prominent market players to launch online portals to improve the sale of used cars. In addition, some vendors are offering added services such as extended warranty and free services to boost sales. For example, Toyota’s online portal offers options for customers to purchase used cars that are certified by the company. The company also offers two years of extended warranty and three free services to improve customer satisfaction. This trend will have a positive impact on the growth of the global used car market during the forecast period.

“Growing demand for car subscription services and vending machine platform for dispensing used cars will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Used Car Market: Segmentation Analysis

This market report segments the global used car market by product (mid-size cars, full-size cars, and compact size cars) and geography (Americas, APAC, and EMEA).

The Americas region led the market in 2017, followed by EMEA and APAC respectively. During the forecast period, the APAC region is expected to witness maximum incremental growth. This is due to the rising customer preference for online used-car portals.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The global used car market is expected to grow by 27.15 million units during the period 2018-2022, according to Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200