Global Size research report 2021 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market. This study provides information about the sales and revenue during the historic and forecasted period of (2021 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Used Vehicle Market report.
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May 2021- America’s automobile retailer “AutoNation Inc has extended its footprint in San Antonio, U.S. Company is planning to open more than 130 USA stores by the end of 2026. Moreover, this will offer customers pre-owned vehicle models with low price and hassle free process. In addition, it also offers “We'll Buy Your Car” concept which enables customers to sell their vehicles directly to AutoNation, with no purchase necessary.
Key players covered in the global Used Vehicle Market research report:
Group 1 Automotive Inc.
Asbury Automotive Group
Hendrick Automotive Group
LITHIA Motor Inc.
CarMax Business Services, LLC
Mahindra First Choice
Maruti Suzuki India Limited
Important Features that are under Offering and Key Highlights of the Market Report:
Detailed overview of the global market share
Changing market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Used Vehicle Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising market growth
Drivers & Restraints
Depreciation is a critical factor that favors the shift towards used vehicles from new vehicles. For instance, the depreciation rate is almost 30% in the first year itself of the car purchased. The high depreciation rate of new cars will undoubtedly influence the mindset of consumers choosing high-value vehicles, which makes purchasing second-hand vehicles an added value-for-money choice. Following this, the acceptance of second-hand cars in society is also increasing. People are as passionate and happy about buying a used car as they are about a new car. Additionally, the availability of a variety of brands to choose from at comparatively lower prices than new vehicle prices is also likely to boost the demand for the market. For instance, the depreciation rate for passenger cars is 15%, whereas, for commercial vehicles, the rate goes up to 30% in India. Recently, the Finance Ministry of India announced higher depreciation rates (30% on passenger cars, 45% on commercial vehicles) on vehicles purchased between 23rd August 2019 and 31st March 2020, along with the deferring increased vehicle registration fees.
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Major Table of Contents for Used Vehicle Market Research Report:
Key Market Growth Insights
Global Market Analysis, Insights and Forecast, 2017-2028
North America Market Analysis, Insights and Forecast, 2017-2028
Europe Market Analysis, Insights and Forecast, 2017-2028
Asia Pacific Market Analysis, Insights and Forecast, 2017-2028
The Middle East and Africa Market Analysis, Insights and Forecast, 2017-2028
Latin America Market Analysis, Insights and Forecast, 2017-2028
Global Used Vehicle Market Revenue Growth, Industry Share Analysis, By Key Players, 2021
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