Research and Markets (http://www.researchandmarkets.com/research/p2f2c9/used_car_market) has announced the addition of the "Used Car Market in the US 2015-2019" report to their offering.
The used car market in the US to grow at a CAGR of 6.95%, 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.
Increase in online retail channels and classifieds is one of the key trends upcoming in the market. There has been strong growth in online retail channels and classifieds for automotive sales. The online classifieds have replaced print media as the main channel for advertising used cars.
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.
Key Vendors
- AutoNation
- CarMax
- Penske Automotive Group
- Sonic Automotive
Other Prominent Vendors
- Asbury Automotive Group
- Auction Direct USA
- AutoTrader.com
- Cars Direct
- Cars.com
- Carsforsale.com
- OOYYO
- Vast.com
Key Topics Covered:
- 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 more information visit http://www.researchandmarkets.com/research/p2f2c9/used_car_market
View source version on businesswire.com: http://www.businesswire.com/news/home/20150629005783/en/
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Sector: Cars
