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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Second Hand Vehicle Trading Service Market- Insights

Second hand vehicles or used vehicles are defined as vehicles that are already registered and are available for sale. In recent years, the longevity, reliability and quality of used cars has improved, while global demand for cars continues to rise. Used vehicles offer consumers mobility at a lower cost, owing to which demand for used cars has increased substantially among middle class people. Moreover, increasing disposable income in developing countries such as China and Brazil is also one of the contributing factor for the growth of used car market. Furthermore, in developing markets such as India the new vehicle sales have declined by 2% during 4QFY19 while the overall used car market registered a growth of 10% for the same period.

However, stringent emission norms and introduction of electric vehicles can be a major challenge for conventional petrol and diesel vehicles. Moreover, the governments across the globe are planning to ban diesel vehicles. For instance, India and U.K. are planning to ban diesel vehicles by 2030 and 2040 respectively. Moreover, many German cities such as Berlin, Frankfurt, Munich have imposed a ban on old diesel cars from 2019. Such restrictions on diesel vehicles is projected to negatively affect growth of the second hand diesel vehicle market. This is also expected to restrain the growth of the second hand vehicle trading service. Moreover, factors, such as standardized dealership experience, fair price experience, and high financing cost for used cars, is likely to hinder the growth of the used car market.

Europe held the dominant position in 2018 in the second hand vehicle trading service market

Europe held the dominant position in the market in 2018, followed by North America and Asia Pacific. Moreover, Germany, France, Italy, Spain, and the U.K. are some of the major growth engines of the second hand vehicle trading service market in Europe. The region has witnessed significant growth in sales of used cars in the last couple of years. For instance, according to German Federal Authority for Automotive Transport (KBA), in 2017, around 7.19 million used vehicles were sold, out of which 21% vehicles are less than two years old.

Moreover, the region has witnessed a higher used car sales ratio compared to new car sales ratio in the recent years owing to large demand for vintage and luxury vehicles. According to CMI analysis in 2018, In European Union (EU) the sale of used cars is 2.1 times that of new cars in the region.

Moreover, Europe is the largest exporter of used cars. According to United Nations Economic Commission for Europe (UNECE), in 2017, Germany exported more than 150000 second hand light duty vehicles across the globe which is equivalent to 40% of all exports in the EU of used light duty vehicles. All the aforementioned factors are contributing to the growth of the second hand vehicle market in the region which, in turn, is expected to boost growth of the second hand vehicle trading service market in the near future.

Moreover, Asia Pacific second hand vehicle trading service market is expected to exhibit the highest CAGR over the forecast period. India, China, and Japan are the key growth engines of the second hand vehicle trading service market in the region. India and China are the fastest growing markets for automobiles.  The growing middle class consumers opting for pre-owned cars has led to an increase in demand for pre-owned cars in India and China. As a result, Mercedes Benz, a leading premium auto-maker, has opened pre-owned car shops for customers. Moreover, local manufacturers in India such as Mahindra and Mahindra and Maruti have also started their own multi-brand pre owned car stores to cater to Indian consumers. In addition to this, the increasing number of online car trading platforms in the region is propelling the growth of the second hand vehicle trading service market in the region.

Figure 1. Global Second Hand Vehicle Trading Service Market Share (%), by Region, (2018)

Second Hand Vehicle Trading Service  | Coherent Market Insights

Source: Coherent Market Insights Analysis

Increasing export of used vehicles from developed nations is expected to drive growth of the passenger cars segment in the second hand vehicle trading service market over the forecast period

The passenger car segment is expected to be the largest segment during the forecast period. The import-export business of used cars has become stronger since the past decade. The U.S. is one of the major exporters of used cars, and it exports cars to emerging economies in Africa, South America and the Middle East. According to CMI analysis, in 2018, the U.S. exported around 710,000 used passenger vehicle.

The market value of used vehicle exports in the country reached US$ 7.17 billion. Used passenger vehicles also occupy close to 30% of all the passenger vehicles exported by the U.S. Moreover, the increasing number of organized online used cars sales channels which provide complete end-to-end purchasing capabilities has fueled the growth of second hand vehicle trading service.

Figure 2. Global Second Hand Vehicle Trading Service Market Share (%), By Vehicle Type, 2018

Second Hand Vehicle Trading Service  | Coherent Market Insights

Source: Coherent Market Insights Analysis

Major players operating in the global second hand vehicle trading service market include Autotrader (Cox Automotive), cars.com, Cars24, eBay Motors, Edmund, Guazi, Hemmings, Kbb, Renrenche, Truebil, TrueCar and Uxin among others.

The second hand vehicles are used vehicle  which are registered previously with regulatory authorities or government bodies. These vehicles are sold through traditional offline channels such as walk-in car stores, car dealers, rental companies, auction houses, and franchise among others; as well as through online sales channels such as dedicated car selling websites, buying and selling platforms, and social media among others.

Market Dynamics

Original equipment manufacturers (OEMs) across the globe are focused on continuous product innovation, and introducing new vehicle models with advanced features to expand their consumer bases. As a result, existing car owners are purchasing new cars and selling their old or existing cars in the aftermarket. Moreover, various OEMs have started their own organized second hand car trading car trading services. For instance, Mahindra and Mahindra, an Indian car manufacturer, is providing multi brand certified second hand cars through its group company Mahindra First Choice. The increasing number of organized players in the second hand vehicle trading market is one of the major contributing factors to the growth of the global second hand car market. However, unavailability of finances for used cars can be a major challenge for the growth of the second hand vehicle trading industry.

Key features of the study:

  • This report provides in-depth analysis of second hand vehicle trading service market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global second hand vehicle trading service market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
  • Key companies covered as a part of this study include Autotrader (Cox Automotive), cars.com, Cars24, eBay Motors, Edmund, Guazi, Hemmings, Kbb, Renrenche, Truebil, TrueCar and Uxin among others
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global second hand vehicle trading service market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the second hand vehicle trading service market

Detailed Segmentation:

  • Global Second Hand Vehicle Trading Service Market, By Vehicle Type
    • Passenger Cars
      • Hatchback
      • Sedan
      • SUV
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles
  • Global Second Hand Vehicle Trading Service Market, By Fuel Type:
    • Petrol Vehicles
    • Diesel Vehicles
    • Electric Vehicles
    • Others
  • Global Second Hand Vehicle Trading Service Market, By Sales Channel:
    • OEMs/Direct Sales
    • Third Party Services 
  • Global Second Hand Vehicle Trading Service Market, By Mode of Sales:
    • Online
    • Offline
  • Global Second Hand Vehicle Trading Service Market, By Region:
    • North America
      • By Vehicle Type
        • Passenger Cars
          • Hatchback
          • Sedan
          • SUV
        • Light Commercial Vehicles
        • Heavy Commercial Vehicles
      • By Fuel Type
        • Petrol Vehicles
        • Diesel Vehicles
        • Electric Vehicles
        • Others
      • By Sales Channel
        • OEMs/Direct Sales
        • Third Party Services 
      • By Mode of Sales
        • Online
        • Offline 
      • By Country
        • U.S.
        • Canada
    • Europe
      • By Vehicle Type
        • Passenger Cars
          • Hatchback
          • Sedan
          • SUV
        • Light Commercial Vehicles
        • Heavy Commercial Vehicles
      • By Fuel Type
        • Petrol Vehicles
        • Diesel Vehicles
        • Electric Vehicles
        • Others
      • By Sales Channel
        • OEMs/Direct Sales
        • Third Party Services 
      • By Mode of Sales
        • Online
        • Offline 
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Vehicle Type
        • Passenger Cars
          • Hatchback
          • Sedan
          • SUV
        • Light Commercial Vehicles
        • Heavy Commercial Vehicles
      • By Fuel Type
        • Petrol Vehicles
        • Diesel Vehicles
        • Electric Vehicles
        • Others
      • By Sales Channel
        • OEMs/Direct Sales
        • Third Party Services 
      • By Mode of Sales
        • Online
        • Offline
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Vehicle Type
        • Passenger Cars
          • Hatchback
          • Sedan
          • SUV
        • Light Commercial Vehicles
        • Heavy Commercial Vehicles
      • By Fuel Type
        • Petrol Vehicles
        • Diesel Vehicles
        • Electric Vehicles
        • Others
      • By Sales Channel
        • OEMs/Direct Sales
        • Third Party Services 
      • By Mode of Sales
        • Online
        • Offline 
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • By Vehicle Type
        • Passenger Cars
          • Hatchback
          • Sedan
          • SUV
        • Light Commercial Vehicles
        • Heavy Commercial Vehicles
      • By Fuel Type
        • Petrol Vehicles
        • Diesel Vehicles
        • Electric Vehicles
        • Others
      • By Sales Channel
        • OEMs/Direct Sales
        • Third Party Services 
      • By Mode of Sales
        • Online
        • Offline 
      • By Country
        • GCC
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
      • Autotrader (Cox Automotive)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cars.com
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cars24
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • eBay Motors
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Edmund
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Guazi
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hemmings
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Kbb
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Renrenche
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Truebil
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • TrueCar
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Uxin
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
  • Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse all the market data tables and figures on "Global Second Hand Vehicle Trading Service Market - Global forecast to 2027”.

Table of Content

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Top 3 Findings
      • Top 3 Opportunity
      • Top Companies
      • Market Snippet, By Vehicle Type
      • Market Snippet, By Fuel Type
      • Market Snippet, By Sales Channel
      • Market Snippet, By Mode of Sales
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Approvals/Launch
      • PEST Analysis
    • PORTER’S Five Forces
  4. Global Second Hand Vehicle Trading Service Market, By Vehicle Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
        • Introduction
        • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Hatchback
        • Sedan
        • SUV
      • Light Commercial Vehicles
        • Introduction
        • Market Size and Forecast, 2019 - 2027, (US$ Million)
      • Heavy Commercial Vehicles
        • Introduction
        • Market Size and Forecast, 2019 - 2027, (US$ Million)
  5. Global Second Hand Vehicle Trading Service Market, By Fuel Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
        • Petrol Vehicles
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Diesel Vehicles
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Electric Vehicles
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Others
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
  6. Global Second Hand Vehicle Trading Service Market, By Sales Channel, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
        • OEMs/Direct Sales
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Third Party Services 
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
  7. Global Second Hand Vehicle Trading Service Market, By Mode of Sales, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
        • Online
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Offline
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
  8. Global Second Hand Vehicle Trading Service Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Introduction
      • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Mode of Sales, 2019 - 2027 (US$ Million)
      • By Country
        • U.S.
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Canada
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Europe
      • Introduction
      • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Type, 2019 - 2027  (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Mode of Sales, 2019 - 2027 (US$ Million)
      • By Country
        • Germany
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • U.K.
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • France
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Italy
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Spain
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Russia
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Rest of Europe
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Asia Pacific
      • Introduction
      • Market size and Forecast, 2019-2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Type, 2019 - 2027  (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Mode of Sales, 2019 - 2027 (US$ Million)
      • By Country
        • China
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • India
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Japan
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Australia
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • South Korea
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • ASEAN
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Rest of Asia Pacific
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Latin America
      • Introduction
      • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Type, 2019 - 2027  (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Mode of Sales, 2019 - 2027 (US$ Million)
      • By Country
        • Brazil
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Mexico
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Rest of Latin America
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Middle East and Africa
      • Introduction
      • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Type, 2019 - 2027  (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Mode of Sales, 2019 - 2027 (US$ Million)
      • By Country
        • GCC
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • South Africa
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
        • Rest of Middle East and Africa
          • Introduction
          • Market Size and Forecast, 2019 - 2027, (US$ Million)
  9. Competitive Landscape
    • Company Profiles
      • Autotrader (Cox Automotive)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cars.com
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cars24
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • eBay Motors
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Edmund
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Guazi
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hemmings
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Kbb
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Renrenche
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Truebil
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • TrueCar
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Uxin
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse all the market data tables and figures on "Second Hand Vehicle Trading Service Market - Global forecast to 2027”.

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