Global Automotive E-retail Market: About this market
Technavio’s automotive e-retail market analysis considers sales from both passenger cars and two-wheelers products. Our analysis also considers finds the sales of automotive e-retail in APAC, Europe, North America, South America, and MEA. In 2018, the passenger car segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for passenger cars across the globe will play a significant role in the passenger car segment to maintain its market position. Also, our global automotive e-retail market report looks at factors such as ease and convenience of buying cars and two-wheelers online, intense competition leading to competitive pricing, and wide wide availability of vehicle models online. However, cost pressure on vendors due to price sensitivity, growth of global used car market, and global the worldwide decline in automobile sales may hamper the growth of the automotive e-retail industry over the forecast period.
Global Automotive E-retail Market: Overview
Wide availability of vehicle models online
The global automotive market is experiencing a paradigm shift toward e-retail platforms, which is evident from the rising sales of vehicles online. For instance, in 2018, the sales of new vehicles online were estimated to be one-tenth of global new vehicle sales. The increasing online sales of vehicles is attributed to the wide availability of new models of vehicles online, which enables companies to cater to diverse groups of customers and generate new sales. This demand for low-calorie chocolate will lead to the expansion of the global automotive e-retail market at a CAGR of over 12% during the forecast period.
Virtual reality and vehicle tours
The automotive e-retail market is witnessing the emergence of innovative methods by vendors, which includes the introduction of virtual reality tours of new vehicles. Virtual reality tours provide a comprehensive view of vehicles for customers. For instance, CarSaver Management, which is a Walmart Inc. company, offers virtual reality tours of vehicles to provide provide a comprehensive and holistic view of vehicles. This helps the users to take a 360-degree virtual tour of the exterior and interior of vehicles. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive e-retail market during the forecast period 2019-2023, click here.
With the presence of several major players, the global automotive e-retail market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive e-retail manufacturers, that include Alibaba Group Holding Ltd., Asbury Automotive Group Inc., AutoNation Inc., eBay Inc., Group 1 Automotive, Inc., Hendrick Automotive Group, Lithia Motors, Inc., Penske Corp. Inc., Scout24 AG, TrueCar Inc.
Also, the automotive e-retail market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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