US Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Used Car Dealership Industry Analysis and is Segmented by Vendor Type (Organized and Unorganized), Fuel Type (Petrol, Diesel, Electric, and Others), Body Type (Hatchback, Sedan, and Sports Utility Vehicles and Multi-Purpose Vehicles), and Sales Channel (Online and Offline). The Report Offers Market Size and Forecasts for United States Used Car Market in Value (USD Billion) for all the Above Segments.

US Used Car Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

US Used Car Market Size

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United States Used Car Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 7.51 %
Market Concentration Medium

Major Players

United States Used Car Market Major Players

*Disclaimer: Major Players sorted in no particular order

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US Used Car Market Analysis

The US Used Car Market is expected to register a CAGR of 7.51% during the forecast period.

The market was valued at USD 195.84 billion in 2021, and it is projected to reach USD 302.47 billion by 2027.

The outbreak of the COVID-19 pandemic has caused significant disruption in the automotive industry. Consumers are likely to choose private transportation in the wake of the pandemic. However, financial discrepancies are likely to obstruct the buying of new vehicles, and commuters are expected to opt for secondhand cars due to economic concerns. Furthermore, during this pandemic period, virtual reality, online, or digitally generated sales leads purchase new autos.

Since the pricing competition among new market players and the unavailability of a substantial share of customers to purchase a new car, the market for used cars has grown significantly in recent years. Furthermore, industry participants in the used vehicle market are strengthening their dealership network through investment in various states in order to capture a large number of customers in that country and establish their market position. These dealership networks assist industry participants in establishing brand recognition and making used car options viable, primarily for the middle-class population.

The used car dealer is dependent on the seller because the dealer cannot obtain the vehicle to serve their consumers until the owner sells it in the market. If new car sales fall, the market will run out of supply after a while. This may hamper the market growth over the forecast period.

US Used Car Industry Overview

The United States used car market is highly fragmented, with multiple startups and regional competitors. However, prominent rental companies are forming joint ventures and partnerships to launch newer products in order to obtain a competitive advantage.

US Used Car Market Leaders

  1. CarMax, Inc.

  2. CarBravo

  3. Carvana Co.

  4. AutoNation Inc.

  5. Sonic Automotive

  6. *Disclaimer: Major Players sorted in no particular order
United States Used Car Market Concentration
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US Used Car Market News

  • In May 2022, Topmarq debuted its solution, which is intended to be an online service with automatic bidding and seller appointment arranging. The platform is being introduced as a limited public beta, according to a press release. Topmarq stated that it is now focusing on the Texas market, with intentions to expand to other large metros in the near future. This technology tool was released to assist dealers in acquiring used inventory from vehicles sold by individual owners.

US Used Car Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porters 5 Force Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Vendor Type
    • 5.1.1 Organized
    • 5.1.2 Unorganized
  • 5.2 Fuel Type
    • 5.2.1 Petrol
    • 5.2.2 Diesel
    • 5.2.3 Electric
    • 5.2.4 Others
  • 5.3 Body Type
    • 5.3.1 Hatchback
    • 5.3.2 Sedan
    • 5.3.3 Sports Utility Vehicle and Multi-Purpose Vehicle
  • 5.4 Sales Channel
    • 5.4.1 Online
    • 5.4.2 Offline

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 CarMax, Inc.
    • 6.2.2 Carvana Co.
    • 6.2.3 CarBravo
    • 6.2.4 AutoNation Inc.
    • 6.2.5 Sonic Automotive
    • 6.2.6 Berkshire Hathaway Automotive (Van Tuyl Group)
    • 6.2.7 Group 1 Automotive Inc.
    • 6.2.8 Asbury Automotive Group
    • 6.2.9 Hendrick Automotive Group
    • 6.2.10 Lithia Motors Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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US Used Car Industry Segmentation

A used car is one that has previously been owned by one or more retail owners. It is also known as a pre-owned vehicle or a secondhand car. Used automobiles are sold in a variety of locations, including franchise and independent car dealers, rental car firms, buy here pay here dealerships, leasing offices, auctions, and private party sales.

United States Used Car Market has been segmented by vendor type, fuel type, body type, and sales channel.

United States Used Car Market has been segmented by vendor type, fuel type, body type, and sales channel. By Vendor type, the market is segmented into Organized and Unorganized. By Fuel Type, the market is segmented into Petrol, Diesel, and Others. By Body Type, the market is segmented into Hatchback, Sedan, and Sport Utility Vehicle and Multi-Purpose Vehicle. By Sales Channel, the market is segmented into Online and Offline. The report covers the market size and forecast in value (USD Billion) for all the above segments.

Vendor Type Organized
Unorganized
Fuel Type Petrol
Diesel
Electric
Others
Body Type Hatchback
Sedan
Sports Utility Vehicle and Multi-Purpose Vehicle
Sales Channel Online
Offline
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US Used Car Market Research FAQs

What is the current US Used Car Market size?

The US Used Car Market is projected to register a CAGR of 7.51% during the forecast period (2025-2030)

Who are the key players in US Used Car Market?

CarMax, Inc., CarBravo, Carvana Co., AutoNation Inc. and Sonic Automotive are the major companies operating in the US Used Car Market.

What years does this US Used Car Market cover?

The report covers the US Used Car Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the US Used Car Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

US Used Car Industry Report

The United States used car market is on a significant upward trajectory, fueled by the high cost of new vehicles, affordability issues, and a surge in online platforms for used car sales. Segmented by vehicle type, fuel type, and sales channels, the market sees conventional and petrol-based cars leading due to their cost-effectiveness and lower depreciation. The rise of online sales channels is revolutionizing the market, providing a plethora of options, comprehensive vehicle insights, and seamless purchasing experiences. Amidst a competitive landscape, key players are leveraging partnerships, mergers, and acquisitions to solidify their positions. Technological advancements and a shift towards online purchasing are simplifying the process for consumers, promising a robust growth outlook. For a detailed analysis, including market share, size, and revenue growth forecasts, Mordor Intelligence™ offers comprehensive insights and a free report PDF download, encapsulating the dynamic growth prospects for stakeholders in the US used car industry.