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Australia Used Car Market Size, Share, Trends, Growth: By Vendor Type: Organised, Unorganised; By Fuel Type: Petrol, Diesel, Electric, Others; By Body Type: Hatchback, Sedan, Sport Utility Vehicle and Multi-Purpose Vehicle, Others; By Sales Channel: Online, Offline; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Australia Used Car Market Outlook
The Australia used car market size reached approximately USD 43.80 billion in 2023. The market is estimated to grow at a CAGR of 5.5% in the forecast period of 2024-2032, reaching a value of around USD 71.66 billion by 2032.
Key Trends in the Market
A used car, also known as a second-hand car, refers to a vehicle which has had one or more retail owners previously. These cars offer an economical solution as they have a lower price tag compared to new models and boast lower insurance premiums.
- The burgeoning popularity of SUVs in the country, due to their high degree of comfort, is one of the crucial Australia used car market trends. Around two-thirds of new vehicle sales in Australia in the year 2022 were SUVs, which is also expected to fuel their usage in the second-hand car market in the coming years.
- The growing demand for certified pre-owned cars (CPO) in Australia, which offer features such as limited manufacturer warranty, roadside assistance as well as complimentary maintenance perks, and a history report to support buyers in better understanding vehicles’ condition, is another prominent trend aiding the market expansion.
- Growing investments in used car platforms that offer exceptional customer services and assure the quality of vehicles also provide impetus to the Australia used car market growth. For example, in May 2022, Carma, a second-hand car platform company based in Sydney, received funding of A$ 75 million in a Series A round led by General Catalyst Partners, a US-based venture capital provider. This investment is expected to fuel the expansion of the company in interstate areas as well as enhance the functionalities of its platform.
Market Analysis
Based on vendor type, the market is bifurcated into organised and unorganised. On the basis of fuel type, the market is divided into petrol, diesel, and electric, among others. Based on body type, the market is classified into hatchback, sedan, and sports utility vehicle and multi-purpose vehicle, among others.
The Australia used car market segmentation, on the basis of sales channel, includes online and offline. The major regional markets of used car in Australia include New South Wales, Victoria, Queensland, Australia Capital, and Western Australia, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia used car market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Global Cars Aus Pty Ltd.
- Jowett Motor Group
- BMW AG
- Toyota Motor Corp.
- Cartopia Pty Ltd
- carsales.com Ltd
- Webb Auto Sales
- Carsguide Autotrader Media Solutions Pty Ltd.
- Southport Car Sales
- Others
Market Share by Fuel Type
Petrol-based used cars occupy a significant portion of the Australia used car market share, owing to the presence of an extensive range of vehicles that rely on petrol as their fuel source. Petrol also offers cost-effective pricing compared to other fuel sources, which makes it a viable option for used cars.
Moreover, electric-based used cars are expected to witness an upward trajectory in the coming years as there is a heightened focus on the reduction of carbon emissions caused by the automotive sector, which is anticipated to present opportunities for electric and hybrid vehicles.
Market Share by Sales Channel
As per the Australia used car market, online sales channels are anticipated to witness robust growth in the forecast period, due to rapid digitalisation in Australia. Online platforms allow the convenience of browsing through their inventory without visiting a physical store. They also offer features such as detailed vehicle photos, price comparisons, features, and unique offers on dealerships that may not be available at in-store purchases.
Meanwhile, offline sales channels account for a substantial market share as they offer buyers the provision of inspecting the condition and performance of second-hand cars in person.
Competitive Landscape
Global Cars Aus Pty Ltd. is a car rental and leasing company, based in Sydney, Australia. The company has partnerships with over 60 car hire providers across the world such as Alamo, Avis, Eurocar, and Thrifty, among others. It offers three European holiday lease programmes in collaboration with Citroen Euro Pass, Peugeot Open Europe, and Renault Eurodrive.
Jowett Motor Group, established in 2001 and headquartered in Victoria, Australia, is a BMW dealership company. Some of its well-known dealerships include Berwick BMW, Berwick MINI Garage, Eastern Honda, Northern Honda, and Waverley BMW, among others. The company is acclaimed to be one of the most developed automotive groups in the country.
BMW AG is a multinational luxury vehicle company, founded in 1916 and based in Munich, Germany. On an average basis, the company utilises 30 per cent of reused and recycled materials in its vehicles to promote sustainability. It is also working on vegan alternatives to leather seats, which provide a similar appearance, functionality, and texture.
Other Australia used car market players include Toyota Motor Corp., Cartopia Pty Ltd, carsales.com Ltd, Webb Auto Sales, Carsguide Autotrader Media Solutions Pty Ltd., and Southport Car Sales, 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:
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| Breakup by Vendor Type |
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| Breakup by Fuel Type |
|
| Breakup by Body Type |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Used Car Historical Market (2018-2023)
8.3 Asia Pacific Used Car Market Forecast (2024-2032)
9 Australia Used Car Market Overview
9.1 Key Industry Highlights
9.2 Australia Used Car Historical Market (2018-2023)
9.3 Australia Used Car Market Forecast (2024-2032)
10 Australia Used Car Market by Vendor Type
10.1 Organised
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Unorganised
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Used Car Market by Fuel Type
11.1 Petrol
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Diesel
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Electric
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Australia Used Car Market by Body Type
12.1 Hatchback
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Sedan
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Sport Utility Vehicle and Multi-Purpose Vehicle
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Australia Used Car Market by Sales Channel
13.1 Online
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Offline
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Australia Used Car Market by Region
14.1 New South Wales
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Victoria
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Queensland
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Australia Capital
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Western Australia
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Global Cars Aus Pty Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Jowett Motor Group
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 BMW AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Toyota Motor Corp.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Cartopia Pty Ltd
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 carsales.com Ltd
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Webb Auto Sales
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Carsguide Autotrader Media Solutions Pty Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Southport Car Sales
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Used Car Market: Key Industry Highlights, 2018 and 2032
2. Australia Used Car Market: Key Industry Highlights, 2018 and 2032
3. Australia Used Car Historical Market: Breakup by Vendor Type (USD Billion), 2018-2023
4. Australia Used Car Market Forecast: Breakup by Vendor Type (USD Billion), 2024-2032
5. Australia Used Car Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
6. Australia Used Car Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
7. Australia Used Car Historical Market: Breakup by Body Type (USD Billion), 2018-2023
8. Australia Used Car Market Forecast: Breakup by Body Type (USD Billion), 2024-2032
9. Australia Used Car Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
10. Australia Used Car Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
11. Australia Used Car Historical Market: Breakup by Region (USD Billion), 2018-2023
12. Australia Used Car Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. Australia Used Car Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 43.80 billion.
The market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 71.66 billion by 2032.
The major market drivers are the rising cost of new vehicles, the growth of online platforms selling used cars, and technological advancements in second-hand cars.
The key trends of the market include the burgeoning popularity of SUVs in the country, growing demand for certified pre-owned cars (CPO) in Australia, and rising investments in used car platforms.
The major regions in the market are New South Wales, Victoria, Queensland, Australia Capital, and Western Australia, among others.
Different vendor types are organised and unorganised.
The key players in the market are Global Cars Aus Pty Ltd., Jowett Motor Group, BMW AG, Toyota Motor Corp., Cartopia Pty Ltd, carsales.com Ltd, Webb Auto Sales, Carsguide Autotrader Media Solutions Pty Ltd., and Southport Car Sales, among others.
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