Used Car Market in US by Product and Retail Channel – Forecast and Analysis 2020-2024
The used car market in the US has the potential to grow by 4.25 million units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Market Competitive Analysis The market is concentrated. The key players in the market are focusing on product innovation and R&D activities to expand their geographical reach and increase their market presence. Cox Automotive Inc., eBay Inc., Pendragon Plc, Penske Automotive Group Inc., and TrueCar Inc. are some of the major market participants. Although the growing penetration of websites dedicated to selling used cars will offer immense growth opportunities, the increasing import duties on used cars from Mexico will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Download the free sample rep...