Online Car Buying Trends and Forecast
The future of the global online car buying market looks promising with opportunities in the hatchback, sedan, and SUV markets. The global online car buying market is expected to reach an estimated $717.0 billion by 2030 with a CAGR of 11.7% from 2024 to 2030. The major drivers for this market are rise in active internet users and rise in car demand, increase in third-party internet marketplaces, and growing presence of OEMs in online car sales.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Online Car Buying by Segment
The study includes a forecast for the global online car buying by propulsion type, category, vehicle type, and region.
Online Car Buying Market by Propulsion Type [Shipment Analysis by Value from 2018 to 2030]:
• Petrol
• Diesel
• Others
Online Car Buying Market by Category [Shipment Analysis by Value from 2018 to 2030]:
• Pre-Owned Vehicle
• New Vehicle
Online Car Buying Market by vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
• Hatchback
• Sedan
• SUV
• Others
Online Car Buying Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Online Car Buying Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies online car buying companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the online car buying companies profiled in this report include-
• Asbury Automotive Group
• AutoNation
• Cargurus
• CarsDirect
• Cars.com
• Cox Automotive
• Group1 Automotive
• Hendrick automotive group
• Lithia motors
• TrueCar
Online Car Buying Market Insights
Lucintel forecasts that petrol will remain the larger segment over the forecast period.
Within this market, SUV will remain the largest segment.
North America is expected to witness highest growth over the forecast period due to the regionÄX%$%Xs rapidly growing internet user base and the technological advancements made by the automotive sector.
Features of the Global Online Car Buying Market
Market Size Estimates: Online car buying market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Online car buying market size by propulsion type, category, vehicle type, and region in terms of value ($B).
Regional Analysis: Online car buying market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different propulsion type, category, vehicle type, and regions for the online car buying market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the online car buying market.
Analyse de l'intensité concurrentielle de l'industrie basée sur le modèle des cinq forces de Porter.
FAQ
Q1. What is the online car buying market size?
Answer: The global online car buying market is expected to reach an estimated $717.0 billion by 2030.
Q2. What is the growth forecast for online car buying market?
Answer: The global online car buying market is expected to grow with a CAGR of 11.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the online car buying market?
Answer: The major drivers for this market are rise in active internet users and rise in car demand, increase in third-party internet marketplaces, and growing presence of OEMs in online car sales.
Q4. What are the major segments for online car buying market?
Answer: The future of the global online car buying market looks promising with opportunities in the hatchback, sedan, and SUV markets.
Q5. Who are the key online car buying market companies?
Answer: Some of the key online car buying companies are as follows:
• Asbury Automotive Group
• AutoNation
• Cargurus
• CarsDirect
• Cars.com
• Cox Automotive
• Group1 Automotive
• Hendrick automotive group
• Lithia motors
• TrueCar
Q6. Which online car buying market segment will be the largest in future?
Answer: Lucintel forecasts that petrol will remain the larger segment over the forecast period.
Q7. In online car buying market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to the regionÄX%$%Xs rapidly growing internet user base and the technological advancements made by the automotive sector.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the online car buying market by propulsion type (petrol, diesel, and others), category (pre-owned vehicle and new vehicle), vehicle type (hatchback, sedan, SUV, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Online Car Buying Market, Online Car Buying Market Size, Online Car Buying Market Growth, Online Car Buying Market Analysis, Online Car Buying Market Report, Online Car Buying Market Share, Online Car Buying Market Trends, Online Car Buying Market Forecast, Online Car Buying Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.