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Australia Used Car Financing Market Size, Share, Analysis: By Car Type: Multi-purpose Vehicle (MPV), Sedan, Hatchback, Sport Utility Vehicle (SUV); By Financier: Non-Banking Financial Companies (NBFC), OEM, Banks; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Australia Used Car Financing Market Outlook
The Australia used car financing market size is projected to grow at a CAGR of 5.97% between 2024 and 2032.
Key Takeaways:
- According to a report released by the Australian Automotive Dealer Association, in 2023, sales of used cars reached 2,074,535 units.
- Furthermore, in 2023, the number of used cars listed for sale were 2,013,465.
- According to AADA, petrol and diesel vehicles made up over 96% of used car sales in Australia.
Hatchback leads the Australia used car financing market by car type owing to the increased desirability among customers and evolving consumer preferences
Hatchbacks are preferred for plenty of reasons, notably cheaper taxes than sedans while offering identical efficiency and comfort. Additionally, considering the diverse set of vehicle models that are eligible for these tax incentives, the price of used hatchbacks remains constant. When it comes to used hatchbacks, these cars are more desirable than sedans and SUVs, which raises the entire price. In the Australia used car financing market, hatchbacks, which are between 5 to 10 years old, are the most preferred among used cars.
Further, with shifting customer preferences for fuel efficiency, cost-effectiveness, and overall maintenance advantages, demand for second-hand hatchbacks has grown substantially. Currently, there is an extensive range of hatchbacks on the marketplace, spanning from Japanese to South Korean to American models, ending up buyers' preferred choice in Australia used car financing market.
Toyota remains the leading used automobile brand followed by Mazda and Ford. Furthermore, the used EV market experienced nearly a doubling of supply and sales. However, EVs account for less than 1% of the market share.
Market Segmentation
Australia Used Car Financing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Car Type
- Multi-purpose Vehicle (MPV)
- Sedan
- Hatchback
- Sport Utility Vehicle (SUV)
Market Breakup by Financier
- Non-Banking Financial Companies (NBFC)
- OEM
- Banks
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia used car financing market key players are Ozcar Pty Ltd., Plenti Group Limited (Plenti Pty Limited), Pepper Money Limited, Sojitz Corp. (Albert Automotive Holdings Pty Ltd.), Wisr Finance Pty Ltd., Quantum Savvy Pty Ltd., and Adelaide Vehicle Centre, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Car Type |
|
| Breakup by Financier |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Used Car Financing Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Used Car Financing Historical Market (2018-2023)
8.3 Asia Pacific Used Car Financing Market Forecast (2024-2032)
9 Australia Used Car Financing Market Overview
9.1 Key Industry Highlights
9.2 Australia Used Car Financing Historical Market (2018-2023)
9.3 Australia Used Car Financing Market Forecast (2024-2032)
10 Australia Used Car Financing Market by Car Type
10.1 Multi-purpose Vehicle (MPV)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Sedan
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hatchback
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Sport Utility Vehicle (SUV)
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Australia Used Car Financing Market by Financier
11.1 Non-Banking Financial Companies (NBFC)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 OEM
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Banks
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Australia Used Car Financing Market by Region
12.1 New South Wales
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Victoria
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Queensland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Australian Capital Territory
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Western Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Ozcar Pty Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Plenti Group Limited (Plenti Pty Limited)
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Pepper Money Limited
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Sojitz Corp. (Albert Automotive Holdings Pty Ltd.)
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Wisr Finance Pty Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Quantum Savvy Pty Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Adelaide Vehicle Centre
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Used Car Financing Market: Key Industry Highlights, 2018 and 2032
2. Australia Used Car Financing Market: Key Industry Highlights, 2018 and 2032
3. Australia Used Car Financing Historical Market: Breakup by Car Type (USD Million), 2018-2023
4. Australia Used Car Financing Market Forecast: Breakup by Car Type (USD Million), 2024-2032
5. Australia Used Car Financing Historical Market: Breakup by Financier (USD Million), 2018-2023
6. Australia Used Car Financing Market Forecast: Breakup by Financier (USD Million), 2024-2032
7. Australia Used Car Financing Historical Market: Breakup by Region (USD Million), 2018-2023
8. Australia Used Car Financing Market Forecast: Breakup by Region (USD Million), 2024-2032
9. Australia Used Car Financing Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.97% between 2024 and 2032.
The market is categorised according to car type, which includes multi-purpose vehicle (MPV), sedan, hatchback, and sport utility vehicle (SUV).
The key players are Ozcar Pty Ltd., Plenti Group Limited (Plenti Pty Limited), Pepper Money Limited, Sojitz Corp. (Albert Automotive Holdings Pty Ltd.), Wisr Finance Pty Ltd., Quantum Savvy Pty Ltd., and Adelaide Vehicle Centre, among others.
Based on the financier, the market is divided into non-banking financial companies (NBFC), OEM, and banks.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
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