PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490191
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490191
Online Car Buying Market, By Vehicle Type, By Propulsion Type, By Category, By Geography
Global online car buying market is estimated to be valued at USD 328.90 Bn in 2024 and is expected to reach USD 751.83 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.5% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 328.90 Bn |
| Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
| Forecast Period 2024 to 2031 CAGR: | 12.50% | 2031 Value Projection: | US$ 751.83 Bn |
Global online car buying market is transforming the way automobiles are purchased in the modern digital era. With the proliferation of the internet and smartphones, consumers now have the ability to research various makes and models, compare prices, evaluate features, and even complete the transaction entirely online from the comfort of their homes. This transition to online car shopping allows buyers to save time otherwise spent visiting multiple dealerships and avoid high-pressure sales tactics. It also benefits manufacturers and dealers by expanding their customer reach beyond local geographies. There has been significant growth in online car search traffic and purchases over the past few years. As global markets see improvements in internet infrastructure and e-commerce capabilities, the trend of buying cars online is expected to grow and become the preferred method for purchasing new vehicles.
Market Dynamics:
Global online car buying market growth is driven by growing digitization and internet penetration around the world. More than half of prospective car buyers now begin their search online. The convenience and control afforded by online shopping attracts time-strapped consumers. Meanwhile, manufacturers and dealers aim to tap into new digital customer bases. The availability of online financing options and trade-in valuations on e-commerce platforms boosts online purchases. However, lack of touch-and-feel experience and inability to test drive until final purchase can hamper the market growth. Varying degrees of online shopping adoption across rural and older demographic segments can hamper the market growth. Advancing technologies such as virtual reality can offer new opportunities for the market growth in the near future.
Key features of the study:
This report provides in-depth analysis of the global online car buying market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global online car buying market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include American City Business Journals Inc., Asbury Automotive Group Inc., AutoNation Inc., CarGurus Inc., CarMax Inc., Cars and Bids LLC, Cars.com Inc., Cars24 Services Pvt. Ltd., CarSoup of Minnesota Inc., Carvago, Carvana Co., Cox Enterprises Inc., eBay Inc., Edmunds.com Inc., Hendrick Automotive Group, Lithia Motors Inc., MH Sub I LLC, Miami Lakes Automall, TrueCar Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global online car buying market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global online car buying market
Market Segmentation
- By Vehicle Type
- Hatchback
- Sedan
- SUV
- Others
- By Propulsion Type
- Petrol
- Diesel
- Others
- By Category
- Pre-Owned Vehicle
- New Vehicle
- By Regional
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- Key Players
- American City Business Journals Inc.
- Asbury Automotive Group Inc.
- AutoNation Inc.
- CarGurus Inc.
- CarMax Inc.
- Cars and Bids LLC
- Cars.com Inc.
- Cars24 Services Pvt. Ltd.
- CarSoup of Minnesota Inc.
- Carvago
- Carvana Co.
- Cox Enterprises Inc.
- eBay Inc.
- Edmunds.com Inc.
- Hendrick Automotive Group
- Lithia Motors Inc.
- MH Sub I LLC
- Miami Lakes Automall
- TrueCar Inc.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Vehicle Type
- Market Snippet, By Propulsion Type
- Market Snippet, By Category
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New system Launch/Approvals
- Impact of the COVID-19 Pandemic
4. Global Online Car Buying Market, By Vehicle Type, 2019-2031, (US$ Billion)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Hatchback
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- Sedan
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- SUV
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
5. Global Online Car Buying Market, By Propulsion Type, 2019-2031, (US$ Billion)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Petrol
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- Diesel
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
6. Global Online Car Buying Market, By Category, 2019-2031, (US$ Billion)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
- Pre-Owned Vehicle
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
- New Vehicle
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
7. Global Online Car Buying Market, By Region, 2019-2031, (US$ Billion)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- North America
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Propulsion Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Category, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Propulsion Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Category, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Propulsion Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Category, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
- China
- India
- ASEAN
- Australia
- South Korea
- Japan
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Propulsion Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Category, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Propulsion Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Category, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
- GCC Countries
- South Africa
- Rest of the Middle East & Africa
8. Competitive Landscape
- Company Profiles
- American City Business Journals Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Asbury Automotive Group Inc.
- AutoNation Inc.
- CarGurus Inc.
- CarMax Inc.
- Cars and Bids LLC
- Cars.com Inc.
- Cars24 Services Pvt. Ltd.
- CarSoup of Minnesota Inc.
- Carvago
- Carvana Co.
- Cox Enterprises Inc.
- eBay Inc.
- Edmunds.com Inc.
- Hendrick Automotive Group
- Lithia Motors Inc.
- MH Sub I LLC
- Miami Lakes Automall
- TrueCar Inc.
- American City Business Journals Inc.
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Research Methodology
- References
- Research Methodology
- About us and Sales Contact
