Used Car Market is anticipated to witness steady growth owing to rising demand for affordable automobile options
Used Car Market The used car market offers benefits such as affordable prices and availability of a wide range of vehicle models and makes for consumers. Factors such as the rising costs of new vehicles, financial constraints among consumers and the need for mobility have increased the demand for pre-owned vehicles globally. Used cars come with a varied mileage and conditions and consumers can choose vehicles within their budgets. The global market sees options for nearly all major brands with many certified pre-owned vehicles available that offer warranty and servicing benefits. The availability of online sales channels and flexible financing options has made used cars an attractive alternative for daily commute needs. The Global used car market is estimated to be valued at US$ 1.78 trillion in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031. Key Takeaways Key Players Key players operating in the Used Car Market Demand are Arnold Clark Aut