Free or discounted
after-sales services by used car sellers to boost the US used market through
2024
 |
| US Used Car Market |
According
to TechSci Research report, “US Used Car Market By Vehicle Type, By Sector, By Fuel Type,
Competition, Forecast & Opportunities, 2024”, US used
car market is anticipated to register growth during the forecast period, backed
by increasing preference for secondhand cars due to the availability of a wider
choice of used vehicles at a huge discounted price compared to new vehicle. Moreover,
increasing demand for CNG vehicles which have high resale value in the
aftermarket and growing focus of dealers and car manufacturers to boost their
used car sales network are anticipated to positively influence the country’s used
car market. US witnessed sales of over 40 million used vehicles in 2018, which
is almost twice the sales of new vehicles i.e. 17 million units.
Browse an in-depth TOC on "US Used Car Market" https://www.techsciresearch.com/report/us-used-car-market/4032.html
US used
car market can be segmented based on vehicle type, sector, fuel type and
region. In terms of vehicle type, the market can be segmented into small cars,
mid-size cars and luxury cars. Mid-size cars category accounted for the largest
market share in 2018 and the vehicle segment is expected to maintain its
leading market position during the forecast period, owing to growing demand for
mid-size cars and as a result their price hike in 2018.
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can also request for 10% free customization on this report.
CarMax, Inc., AutoNation, Inc., Penske
Automotive Group Inc., Sonic Automotive Inc., Group 1 Automotive Inc., Ken
Garff Automotive Group, Lithia Motors Corp., Hendrick Automotive Group, Asbury
Automotive Group Inc. and Ken Garff Automotive Group are the leading players
operating in US used car market. Companies operating in the market are using
organic strategies such as product launch, mergers and collaborations to boost
their share. In 2017, Carmax Inc., held the largest market share with 0.67
million used vehicle sales.
“On account of increasing prices of vehicles and high interest rates, consumers
are opting for used cars when compared with new cars. Thus, in coming years,
demand for used cars in the country would continue to grow.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“US Used Car Market By Vehicle Type, By Sector, By
Fuel Type, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of US used
car market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in US used car market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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