DUBLIN--(BUSINESS WIRE)--The "Motor Vehicle and Parts Dealers Global Market Report 2020-30: COVID- 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global motor vehicle and parts dealers market as it emerges from the Covid 19 shut down.
The global motor vehicle and parts dealers market is expected to decline from $4461.5 billion in 2019 to $4420.7 billion in 2020 at a compound annual growth rate (CAGR) of -1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $5196.7 billion in 2023.
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The Asia Pacific was the largest region in the global motor vehicle and parts dealers market, accounting for 36% of the market in 2019. North America was the second largest region accounting for 34% of the global motor vehicle and parts dealers market. Eastern Europe was the smallest region in the global motor vehicle and parts dealers market.
Virtual reality empowers the customer experience by letting them connect to the product with interactive and personalized options. Virtual reality allows the customers to immerse themselves in the experience of owning a product. Automotive company Lexus is using virtual reality technology which allows its customers to virtually test drive their new models. North Face, an apparel company, is using VR technology which transports its customers to Yosemite National Park as they are shopping at the stores. Volvo is also VR technology which lets the customers get the feel of being in the car and take an imaginary journey. Lexus made its customers take a virtual test drive of their new models in significantly realistic manner than a regular driving simulator. TopShop stores include virtual fitting rooms which allows its customers to select specific garments and see how they would look wearing those garments on a large screen.
The motor vehicle and parts dealers' market consists of sales of motor vehicles and parts and related services by entities (organizations, sole traders and partnerships) that sell l automobiles, other motor vehicles, automotive parts, accessories, and tires to ultimate users. The companies in the industry typically operate from showrooms where vehicles and related parts are displayed.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Motor Vehicle And Parts Dealers Market Characteristics
4. Motor Vehicle And Parts Dealers Market Product Analysis
5. Motor Vehicle And Parts Dealers Market Supply Chain
6. Motor Vehicle And Parts Dealers Market Customer Information
7. Motor Vehicle And Parts Dealers Market Trends And Strategies
8. Motor Vehicle And Parts Dealers Market Size And Growth
9. Motor Vehicle And Parts Dealers Market Regional Analysis
10. Motor Vehicle And Parts Dealers Market Segmentation
11. Motor Vehicle And Parts Dealers Market Metrics
12. Asia-Pacific Motor Vehicle And Parts Dealers Market
13. Western Europe Motor Vehicle And Parts Dealers Market
14. Eastern Europe Motor Vehicle And Parts Dealers Market
15. North America Motor Vehicle And Parts Dealers Market
16. South America Motor Vehicle And Parts Dealers Market
17. Middle East Motor Vehicle And Parts Dealers Market
18. Africa Motor Vehicle And Parts Dealers Market
- Group 1
- Penske Automotive Group
For more information about this report visit https://www.researchandmarkets.com/r/6bb98t