PUBLISHER: The Business Research Company | PRODUCT CODE: 1713387
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713387
Motor vehicle and parts dealers are businesses that specialize in selling automobiles, other motor vehicles, automotive parts, accessories, and tires directly to end-users. These companies typically operate from showrooms where they display vehicles and related parts.
The primary categories of motor vehicle and parts dealers include auto parts and accessories stores, automobile dealerships, and other motor vehicle dealers. An automobile dealership is a retail establishment that offers new or used automobiles for sale, rent, or lease. These businesses can be owned by retail chains or independent retailers and are often operated through exclusive showrooms or inclusive dealer stores.
The motor vehicle and parts dealers market research report is one of a series of new reports from The Business Research Company that provides motor vehicle and parts dealers market statistics, including motor vehicle and parts dealers industry global market size, regional shares, competitors with a motor vehicle and parts dealer market share, detailed motor vehicle and parts dealer market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle and parts dealers industry. This motor vehicle and parts dealer's market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The motor vehicle and parts dealers market size has grown strongly in recent years. It will grow from $5429.77 billion in 2024 to $5874.52 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to economic conditions, technological advancements, interest rates, consumer preferences, environmental regulations.
The motor vehicle and parts dealers market size is expected to see strong growth in the next few years. It will grow to $7664.14 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to electric vehicles (evs), digital sales and service, autonomous vehicles, sustainability and green initiatives, shared mobility, innovation in automotive retail. Major trends in the forecast period include online sales and digital showrooms, autonomous and connected vehicles, sustainability and green initiatives, increased emphasis on safety features.
Motor vehicle and parts dealers are adopting a robust and integrated strategy for data analytics in their management approach. This technology is being leveraged to enhance supply chain efficiency, streamline operations, engage with customers, and cultivate loyalty. Data has become a pivotal asset for most retail operations. With the rapid expansion of retail data and the availability of data analytics technologies, motor vehicle and parts dealers can more easily identify and meet their customers' needs and expectations. This is anticipated to be a driving force in the market's future growth.
The increasing sales of vehicles are expected to be a catalyst for the continued growth of the motor vehicle and parts dealers market. Vehicle sales encompass the process of selling various types of motor vehicles, including cars, trucks, vans, and others, to both consumers and businesses. Motor vehicle parts play an integral role throughout the vehicle sales process, from manufacturing and customization to maintenance, safety, and regulatory compliance. They significantly influence the overall value and appeal of vehicles, affecting pricing and reliability. For example, in July 2023, according to the International Energy Agency, sales of electric vehicles nearly doubled, reaching 6.6 million in 2021 compared to 2020, thus increasing the total number of electric vehicles on the road to 16.5 million. Consequently, the rising vehicle sales are propelling the growth of the motor vehicle and parts dealers market.
Motor vehicle dealers are increasingly introducing unique experiences and features to meet customer expectations. Experiential retail describes stores that offer consumers an opportunity to purchase an experience rather than just a product or service. This trend is primarily driven by millennials and their preference for experiences over material possessions. Such stores often incorporate technology like augmented reality and combine traditional elements with mobile apps and interactive activities. For example, the automotive brand Audi has incorporated a virtual reality (VR) experience into its showrooms to attract potential customers. This VR experience is designed to present the company's vehicles in a more personalized and engaging manner, addressing the challenge of smaller dealerships with limited space for stocking multiple cars.
Prominent companies operating in the motor vehicle and parts dealers market are concentrating on developing innovative services, such as 'wheels on web,' to offer dependable services to their customers. 'Wheels on web' is an online retail sales platform that enables businesses or individuals to sell their products or services to consumers via the internet. For example, in April 2023, Toyota Motor Corporation, a Japan-based automotive manufacturer, introduced 'wheels on web.' This online retail sales platform provides customers with a seamless virtual experience, allowing them to reserve, purchase, and have their preferred Toyota models delivered to their doorstep. 'Wheels on web' represents a business-to-consumer (B2C) platform that underscores the company's primary commitment to enhancing the customer experience in the digital realm and facilitating a hassle-free car purchasing process with advanced features and services.
Major companies operating in the motor vehicle and parts dealers market include Penske Automotive Group Inc., AutoNation Inc., CarMax Inc., AutoZone Inc., Lithia Motors Inc., O'Reilly Automotive Inc., Group 1 Automotive Inc., Jardine Cycle & Carriage Limited, Advance Auto Parts Inc., Sonic Automotive Inc., General Motors Company, Ford Motor Company, Toyota Motor Corporation, Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Fiat Chrysler Automobiles N.V, Hyundai Motor Company, Kia Motors Corporation, Volkswagen AG, BMW AG, Tesla Inc., Subaru Corporation, Mazda Motor Corporation, Mitsubishi Motors Corporation, Isuzu Motors Limited, Suzuki Motor Corporation, Tata Motors Limited, Mahindra & Mahindra Limited, Ashok Leyland Limited, Scania AB, Volvo AB, PACCAR Inc., Navistar International Corporation.
Asia-Pacific was the largest region in the motor vehicle and parts dealers market in 2024. North America was the second-largest region in the motor vehicle and parts dealers market. The regions covered in the motor vehicle and parts dealers' market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the motor vehicle and parts dealers market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The motor vehicle and parts dealers market includes revenues earned by entities by OEM and aftermarket part dealers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Motor Vehicle And Parts Dealers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on motor vehicle and parts dealers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for motor vehicle and parts dealers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The motor vehicle and parts dealers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.