With nearly 97.4% of the population in 2022 having access to the Internet, there is a vast potential for e-commerce in the automotive industry, including the buying and selling of used cars. This digital trend is reshaping the automotive industry in Malaysia, with online platforms becoming ...
Historically,retail prices for consumers tend to follow changes in wholesale prices. The used vehicle market is expected to experience a slow and gradual recovery as wholesale price declines occur. This trend underscores the importance for buyers and sellers to stay updated and be aware of market d...
The Report Covers Used Cars Market Statistics in UAE and It is Segmented by Vehicle Type (Hatchback, Sedan, and Sports Utility Vehicle (SUV) and Multi-Purpose Vehicles (MPVs)), Fuel Type (Gasoline, Diesel, and Others), Booking Type (Online and Offline), and Vendor Type (Organized and ...
Used Cars Market projected to reach $1,970.0 Bn by 2028. Depreciation of new vehicles in terms of resale value after a period of time will drive growth of the market.
The US Used Car Market size is estimated to grow by USD 41.9 billion at a CAGR of 4.6% between 2023 and 2028. The market is experiencing significant growth, driven by the excellent value-for-money proposition that used cars offer compared to new ones. This trend is further reinforced by ...
Used cars market to hit $2.6 trillion by 2031, driven by e-commerce expansion & online sales channels, making car buying more accessible worldwide.
The used car market is a prime example of that trend, Adams added, with commuters still leery of public transport due to COVID-19 fears and people who fled cities during the pandemic now needing cars to get around. The federal government's multiple stimulus payments during the crisis also ...
57.7% correspondents wanted a superior vehicle. For 27.73% car-owners, the reason of changing was old car did not meet the need and 21% car-owners planned to own SUV or MPV, which proved the trend of diversifying market. European brands are preferred mostly by consumers. More than 57% co...
A: Over the last two years, on average, car prices have been coming down. I think that that trend is generally continuing. There are seasonal times around tax season in February and March, or around return to school in August, where prices can go up a bit. But generally around this ti...
1 Additionally, customers are purchasing more protection products, such as extended warranties, to limit their financial risk if their used cars break down. Winning in an evolving market To understand how to win in this market, investors, OEMs, and retailers need ...