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The used car market size is forecast to increase by USD 857.1 billion, at a CAGR of 7.56% between 2023 and 2028. The automotive market is experiencing substantial growth due to several key factors. Competition among automakers is intensifying, leading to an increased number of new car model launches. Companies are releasing new models to stay competitive and capture market share. Additionally, urban consumers in emerging economies are displaying a decreasing vehicle ownership duration, opting for more frequent upgrades and replacements, as well as car rentals (self-drive). Furthermore, the attractive value proposition of used cars is drawing in price-conscious consumers seeking affordable and dependable transportation solutions. Collectively, these factors are shaping the automotive industry landscape, highlighting the significance of innovation in automotive technologies, affordability, and consumer preferences in driving market expansion. In response to shifting consumer demands and market dynamics, the automotive industry is well-positioned for ongoing growth and adaptation to cater to a diverse and evolving customer base. The industry's ability to innovate and offer affordable solutions that meet the changing needs of consumers will be crucial in maintaining market momentum.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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