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Global Online Car Buying Market Opportunity Analysis and Industry Forecast, 2021-2030 - Growing Demand for Off-lease Cars & Subscription Service by the Franchise, Leasing Offices, and Car Dealers - ResearchAndMarkets.com

September 20, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Sep 20, 2021--

The “Online Car Buying Market by Vehicle Type, Propulsion Type and Category: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

Online car buying market refers to the end-to-end buying of car through online platforms. Online car buying allows customer to have better price transparency, the ease of shopping from home, and a digital payment process.

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Customers can easily go through the available offerings and have quick access to product related information, prices and can instantly access a wide array of available vehicles along with custom suggestion and recommendations with easy benchmarking and price comparisons with less or even no paperwork that too with home deliveries of vehicles. The online car buying market can be categorized as pre-owned vehicle also called used vehicle and new vehicles.

The global online car buying market is segmented on the basis of vehicle type, propulsion type and category. By vehicle type, the market has been categorized into hatchback, sedan, SUV and other. On the basis of propulsion type, it is categorized into petrol, diesel and others. On the basis of category, it is categorized into pre-owned vehicle and new vehicle.

Rise in number of active internet users, increase in vehicle demand, digitization of automotive retail sector in countries, such as the U.S., Canada, the UK, Germany and China, and surge in third party online marketplaces are anticipated to propel the growth of the online car buying market between 2021 and 2030.

The key players analyzed in the online car buying market include

  • Asbury Automotive Group, Inc.
  • AutoNation, Inc.
  • Cargurus, Inc.
  • CarsDirect
  • Cars.com, Inc.
  • Cox Automotive Inc
  • Group1 Automotive Inc.
  • Hendrick automotive group
  • Lithia motors, Inc.
  • TrueCar, Inc.

Market Dynamics

Drivers

  • OEMs focusing on making a shift to end-to-end online sales
  • Third-party online marketplaces offer a platform for private sellers
  • Growing demand for off-lease cars & subscription service by the franchise, leasing offices, and car dealers
  • High upfront cost of new vehicle and affordability concerns

Restraints

  • Unorganized car sales
  • Lack of regularization

Opportunities

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  • Rapid adoption of E-commerce and online technologies foreseen to reinforce the growth
  • Steady increase in organized/semi-organized sales in emerging countries
  • Demand of car sharing services

Impact of COVID-19 on the market

  • Evolution of outbreaks
  • COVID-19
  • Micro-economic impact analysis
  • Consumer trend
  • Technology trends
  • Regulatory trend
  • Macroeconomic impact analysis
  • Impact on the Online Car Buying industry analysis

For more information about this report visit https://www.researchandmarkets.com/r/lqhzfp

View source version on businesswire.com:https://www.businesswire.com/news/home/20210920005679/en/

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KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 09/20/2021 11:33 AM/DISC: 09/20/2021 11:33 AM

http://www.businesswire.com/news/home/20210920005679/en