Report forecast the used car
market in the US to grow at a CAGR of 6.95 percent, in terms of revenue, during
the period 2014-2019.
Used cars are increasingly
becoming an alternative for new vehicles due to increase in consumer interest
and popularity of certified programs. The used car market in the US comprises
micro cars, economy cars, luxury cars, specialty cars, minivans, SUVs, pickup
trucks, and commercial vans. The vendors in the used car market offer a range
of automotive products and services, such as new and used vehicles, automotive
finance, repair services, and insurance.
The market is expected to witness
a growth in the volume of off-lease vehicles as a large number of these vehicles
will be back in the market in 2014.
This report covers the present
scenario and the growth prospects of the used car market in the US for the
period 2015-2019. To calculate the market size, it considers the average price
of used cars in the US. The report considers the market size in terms of both
revenue and units, but only for passenger vehicles.
It discusses the major drivers
that influence the growth of the market and outlines the challenges faced by
vendors and the market at large, as well as the key trends that are emerging in
the market.
The key customers in the market
are the end users.
According to the report, the used
car market in the US is expected to grow because more vehicles are coming
off-lease and there is an increasing supply of used cars (including those in
CPO programs). The adoption of lease hire and buy here financing options will
also help used car dealers stay competitive and increase their profitability.
Further, the report states that
the used car shortage is declining because a large volume of off-lease vehicles
are being introduced into the used car market in the US. In the US, only about
20% of the used cars available in the current trade market were found to be in
good condition. This is a growing concern for consumers because most cars
available in the current trade market are not of good quality.
The report presents the vendor
landscape and a corresponding detailed analysis of the leading vendors in the
market. The report discusses the major drivers that influence the growth of the
market. It also outlines the challenges faced by vendors and the market at
large, as well as the key trends emerging in the market.
key players in the used car market
in the US: AutoNation Inc., CarMax Inc., Penske Automotive Group Inc. and Sonic
Automotive Inc.
Other Prominent Vendors in the
market are: Asbury Automotive Group, Auction Direct USA, Germain Motor Company
and Group 1 Automotive, AutoTrader.com, Cars.com, Cars Direct, OOYYO,
Carsforsale.com and Vast.com
Market Driver
- Growing demand for CPO cars
- For a full, detailed list, view our report
Market Challenge
- Demand-based inventory management
- For a full, detailed list, view our report
Market Trend
- Increase in online retail channels and classifieds
- For a full, detailed list, view our report
Key Questions Answered in this
Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 69
pages and 28 Exhibits “Used Car Market in the US 2015-2019” report covers
Executive Summary, List of Abbreviations, Scope of the Report, Market Research
Methodology, Introduction, Market Landscape, Market Segmentation, Buying
Criteria, Market Drivers, Drivers and their Impact, Market Challenges, Impact
of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor
Landscape, Key Vendor Analysis.
For
further information on this report, please visit-
http://mrr.cm/4ep
Find all Automotive Reports
at: http://www.marketresearchreports.com/automotive
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