Home > Automotive > Mobility > Commercial Vehicles > north america used cars market
Get a free sample of North America Used Cars Market
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of North America Used Cars Market
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
CarMax and AutoNation dominate the market with over 5% of the China used cars industry share in 2023. CarMax, Inc. maintains its competitive edge in the used cars industry through its expansive network of stores and robust online presence, offering a seamless, omnichannel buying experience.
The company emphasizes customer trust and transparency by providing detailed vehicle history reports, rigorous inspection processes, and a no-haggle pricing policy. CarMax's focus on customer satisfaction is further enhanced by offering various financing options and extended service plans. Its technological investments in online sales and digital tools ensure CarMax remains a leader in the used car industry.
AutoNation, Inc. stays competitive in the North American used cars market by leveraging its extensive dealership network and strong brand reputation. The company offers a diverse inventory of certified pre-owned vehicles, emphasizing quality and reliability through comprehensive inspection and certification processes. AutoNation's customer-centric approach includes transparent pricing, flexible financing solutions, and extended warranty options. Additionally, AutoNation has embraced digital transformation with its AutoNation Express platform, enabling customers to shop, purchase, and schedule vehicle deliveries online, catering to the growing demand for convenient, digital car-buying experiences.
Major players operating in the North America used cars industry are:
The market size of used cars in North America reached USD 457.9 billion in 2023 and is likely to grow at over 9% CAGR through 2032, propelled by the increasing affordability of used electric vehicles (EVs).
The gasoline segment accounted for over 51% share in 2023, driven by extensive infrastructure for gasoline-powered vehicles.
The United States market held a 95% revenue share in 2023, fueled by high new car depreciation, certified pre-owned programs, and growing online platforms.
Asbury Automotive Group, Inc., AutoNation, Inc., CarMax, Inc., Carvana Co., Group 1 Automotive, Inc., Lithia Motors, Inc., Penske Automotive Group, Inc., Sonic Automotive, Inc., and Vroom, Inc.