This is a demo store. No orders will be fulfilled.
USD
GBP
CNY
EUR
INR
JPY
MYR
ZAR
KRW
THB
North American Used Car Growth Opportunities
North American Used Car Growth Opportunities
Lack of New Cars for Sale and Demand for Digital and Contactless Services Influence Growth Strategies
RELEASE DATE
26-Oct-2021
26-Oct-2021
REGION
North America
North America
Deliverable Type
Mega Trends
Mega Trends
Research Code: PC1D-01-00-00-00
SKU: AU02235-NA-MT_25838
$4,950.00
In stock
SKU
AU02235-NA-MT_25838
Description
The COVID-19 pandemic and global shortages of microchips have had a huge negative impact on the North American used car market (the United States and Canada). Factories and dealerships remained closed during lockdowns, which stalled car production and sales. After they reopened, the lack of microchips interrupted car production once more. Although in 2020 approximately 40.7 million used cars were sold (a decrease of 7.4% year over year), this market has experienced high demand as a result of low new car inventories.
The 2 countries analyzed in this report have different sized used car markets. In 2020, almost 93% of total North American used car sales occurred in the United States, and by 2026, this figure will remain practically unchanged. Also, used car prices in the United States have increased much faster than in Canada, which has driven Canadian used car exports to the United States.
In this study, the North American used car value chain is segmented into 3 sales channels: franchised dealerships, independent dealerships, and private (peer-to-peer) sales. Inside independent dealers, online-only players stand out as emerging and disrupting the market.
This research provides a comprehensive outlook on the used car market in North America and provides meaningful insights for automotive players looking to explore this unique and competitive market.
Author: Ingrid Schumann
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Used Car Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Used Car Market Scope of Analysis
Key Competitors for Used Car Market
Key Growth Metrics for Used Car Market
Growth Drivers for the Used Car Market
Growth Restraints for the Used Car Market
Forecast Assumptions, Used Car Market
Total Car Sales (Used and New Car Sales) Forecast
Used Car Sales Forecast by Country
Used Car Sales Forecast by Channel
Total Car Sales Forecast Analysis, Used Car Market
Used Car Sales Forecast Analysis by Country, Used Car Market
Used Car Sales Forecast Analysis by Channel, Used Car Market
Pricing Trends and Forecast Analysis, Used Car Market
Competitive Environment, Used Car Market
Used Car Market Dynamics
Used Car Market Dynamics (continued)
Used Car eRetailing Trends
Value Chain, Used Car Market
Comparative Benchmarking by Distribution Channel
Distribution Channel Benchmarking Parameters
Used Car Value Proposition Analysis
Used Car Value Proposition Analysis (continued)
Benefits of CPOs for OEMs and Dealers
OEM CPO Program—Mercedes-Benz
OEM CPO Program—Lexus
OEM CPO Program—Toyota
OEM CPO Program—Honda
OEM CPO Program—Chevrolet (General Motors)
Innovative Practices in Used Car Retailing—Carvana
Innovative Practices in Used Car Retailing—Canada Drives
Innovative Practices in Used Car Retailing—CarGurus
Market Characteristics, United States
Key Growth Metrics for Used Car Market, United States
Online Car Sales, United States
Online Car Sales, United States (continued)
Used Electric Car Purchase Benefits, United States
Rebate Programs for Used EVs, United States
Rebate Programs for Used EVs, United States (continued)
Used Car Sales Forecast, United States
Used Car Sales Forecast by Channel, United States
Forecast Analysis for Used Car Market, United States
Market Characteristics, Canada
Key Growth Metrics for Used Car Market, Canada
Rebate Programs for Used EVs, Canada
Rebate Programs for Used EVs, Canada (continued)
Used Car Sales Forecast, Canada
Used Car Sales Forecast by Channel, Canada
Forecast Analysis for Used Car Market, Canada
Growth Opportunity 1—Digital and Contactless Sales Processes
Growth Opportunity 1—Digital and Contactless Sales Processes (continued)
Growth Opportunity 2—Online Transactional Business Model
Growth Opportunity 2—Online Transactional Business Model (continued)
Growth Opportunity 3—Rent-a-car Experience at Dealerships
Growth Opportunity 3—Rent-a-car Experience at Dealerships (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
Popular Topics
The COVID-19 pandemic and global shortages of microchips have had a huge negative impact on the North American used car market (the United States and Canada). Factories and dealerships remained closed during lockdowns, which stalled car production and sales. After they reopened, the lack of microchips interrupted car production once more. Although in 2020 approximately 40.7 million used cars were sold (a decrease of 7.4% year over year), this market has experienced high demand as a result of low new car inventories.
The 2 countries analyzed in this report have different sized used car markets. In 2020, almost 93% of total North American used car sales occurred in the United States, and by 2026, this figure will remain practically unchanged. Also, used car prices in the United States have increased much faster than in Canada, which has driven Canadian used car exports to the United States.
In this study, the North American used car value chain is segmented into 3 sales channels: franchised dealerships, independent dealerships, and private (peer-to-peer) sales. Inside independent dealers, online-only players stand out as emerging and disrupting the market.
This research provides a comprehensive outlook on the used car market in North America and provides meaningful insights for automotive players looking to explore this unique and competitive market.
Author: Ingrid Schumann
| Deliverable Types | Mega Trends |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Ingrid Schumann |
| Industries | Automotive |
| WIP Number | PC1D-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9800-A6,9813-A6,9AF6-A6 |