Used Car Dealers in the US - Industry Market Research Report
Description
Used Car Dealers in the US
Over the past five years, used vehicle sales have ballooned in the face of an undersupply of new vehicles and a restrictive economic environment. A pandemic recovery that coincided with a semiconductor shortage in 2021 prompted most of the Used Car Dealers industry's growth during the period. Inflated disposable income and greater access to credit encouraged vehicle purchases and consumers turned to used cars when they found new car lots empty. Over the past five years, revenue for used car dealers surged at a CAGR of 5.1%, reaching an estimated $181.2 billion in 2023. Inflationary pressure will reverse some of the growth in 2023, precipitating an estimated 4.4% decline.
This industry sells used passenger vehicles, including passenger cars, light trucks, sports utility vehicles (SUVs) and passenger vans. Used car dealers also provide financing and insurance services. Dealerships that sell a mix of new and used vehicles are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Over the past five years, used vehicle sales have ballooned in the face of an undersupply of new vehicles and a restrictive economic environment. A pandemic recovery that coincided with a semiconductor shortage in 2021 prompted most of the Used Car Dealers industry's growth during the period. Inflated disposable income and greater access to credit encouraged vehicle purchases and consumers turned to used cars when they found new car lots empty. Over the past five years, revenue for used car dealers surged at a CAGR of 5.1%, reaching an estimated $181.2 billion in 2023. Inflationary pressure will reverse some of the growth in 2023, precipitating an estimated 4.4% decline.
This industry sells used passenger vehicles, including passenger cars, light trucks, sports utility vehicles (SUVs) and passenger vans. Used car dealers also provide financing and insurance services. Dealerships that sell a mix of new and used vehicles are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
44 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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