Used Car Market to Reach $2,718.08 Billion by 2030, Growing by 6.5% CAGR

HYDERABAD, India - April 22, 2024 - PRLog -- The used car market is expected to witness significant growth in the future due to the increasing internet penetration and the surging demand for off-lease vehicles among franchises, car dealers, and leasing offices and the shift in consumer preferences towards owning a car.
Additionally, rising middle class, India's young population and the availability of financing options for purchasing used cars are the prominent factors driving the growth of the market.

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Asia Pacific is expected to have the highest CAGR during the forecast period
The Asia Pacific is experiencing strong growth during the forecast period due to rising consumer preference for luxury vehicles. This surge in demand for high-end automobiles reflects changing preferences and rising affluence in the region. As consumers aspire for luxury and premium features in their vehicles, the automotive market in Asia Pacific is poised for significant expansion. The forecasted period indicates a noteworthy trend where consumers are actively opting for luxury options also highlights the benefits of enjoying an advanced and refined driving experience contributing to the overall growth and development of the automotive sector in South Asia.

Key Players Profiled in the Report Includes:

• CarMax Enterprise Services, LLC
• TrueCar, Inc.
• Asbury Automotive Group
• Group 1 Automotive, Inc.
• Lithia Motor Inc.
• eBay.com
• Scout24 SE
• Hendrick Automotive Group
• AutoNation.com
• Asbury Automotive Group Inc
• Big Boy Toyz Ltd
• Mahindra First Choise Wheels Ltd
• Universal Motor Agencies
• Unix Group

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