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Global Online Car Buying Market Share, Size, Analysis, Growth, Trends, Forecast: By Vehicle Type: Hatchback, Sedan, SUV, Others; By Propulsion Type: Petrol, Diesel, Others; By Category: Pre-Owned Vehicle, New Vehicle; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Online Car Buying Market Outlook
The global online car buying market size attained a value of USD 298.57 billion in 2023. The market is further expected to grow at a CAGR of 11.90% between 2024 and 2032, reaching a value of USD 584.6 billion by 2032.
Key Trends in the Market
Online car buying refers to a car buying process in which the internet along with a well-connected device is used to facilitate various steps of the car buying process. These steps include car selection, rate comparison, analysis of features, and finally initiating the transaction.
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- The ongoing transition from traditional to online modes of car buying for more personalised experiences and availability of custom suggestions is driving the online car buying market growth.
- Availability of high-speed internet, growing adoption of tablets and laptops, and increasing investments towards online brand advertising are attracting a greater number of online car buyers every year.
- Changing preference of customers towards avoiding stressful negotiations and extensive browsing, is another key trend expanding the opportunities for online car buying market.
Market Analysis
Based on vehicle type, the market is segmented into hatchback, sedan, and SUV, among others. On the basis of propulsion type, the market is classified into petrol, and diesel, among others. By category, the market is bifurcated into pre-owned vehicle, and new vehicle. The regional markets for online car buying are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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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 key players in the global online car buying market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Asbury Automotive Group, Inc.
- AutoNation, Inc.
- CarGurus, Inc.
- MH Sub I, LLC (CarsDirect)
- Cars.com Inc.
- Cars24 Services Private Limited
- Group 1 Automotive, Inc.
- Hendrick Automotive Group
- Lithia Motors, Inc.
- TrueCar, Inc.
- Others
Market Share by Category
The new vehicle segment, based on category, is projected to grow at a rapid pace in the online car buying market over the coming years. Buying a brand-new car comes with numerous benefits such as warranty by the manufacturer, a car without any wear and tear, and well installation of latest technologies and features which enhance customer satisfaction. Growing availability of car loans and rising disposable income across emerging economies are expected to aid the sales of new cars in the forecast period. Purchasing new cars online also reduces the risk of unexpected issues that may arise in pre-owned vehicles, and customers have a wider range of new cars to choose from.
Market Share by Region
The Asia Pacific is anticipated to account for a significant share in the online car buying market in the forecast period. Growing demand for online car buying across developing economies like India is encouraging dealerships to conduct the entire sales process online, in order to save time and ease the financing and delivery process. Increasing per capita income, coupled by accelerated digitalisation in this region, is likely to offer lucrative opportunities to the market for online car buying in the coming years.
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Competitive Landscape
Asbury Automotive Group, Inc. is a leading car dealership company founded in 1995 and headquartered in Georgia in the United States. This company offers an extensive range of automotive products and services to customers.
AutoNation, Inc. is a prominent car dealership company offering automotive products and services including new and used cars, and various automotive components. The company was established in 1991 and is currently headquartered in Florida, United States.
CarGurus, Inc. is a popular automotive research and shopping website which enables customers in contacting the sellers of new or used cars. Founded in 2006, the company is headquartered in Massachusetts in the United States.
Other market players include MH Sub I, LLC (CarsDirect), Cars.com Inc., Cars24 Services Private Limited, Group 1 Automotive, Inc., Hendrick Automotive Group, Lithia Motors, Inc., and TrueCar, Inc., 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 Vehicle Type |
|
| Breakup by Propulsion Type |
|
| Breakup by Category |
|
| Breakup by Region |
|
| 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
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Online Car Buying Market Analysis
8.1 Key Industry Highlights
8.2 Global Online Car Buying Historical Market (2018-2023)
8.3 Global Online Car Buying Market Forecast (2024-2032)
8.4 Global Online Car Buying Market by Vehicle Type
8.4.1 Hatchback
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Sedan
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 SUV
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Online Car Buying Market by Propulsion Type
8.5.1 Petrol
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Diesel
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Online Car Buying Market by Category
8.6.1 Pre-Owned Vehicle
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 New Vehicle
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Online Car Buying Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Online Car Buying Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Online Car Buying Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Online Car Buying Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Online Car Buying Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Online Car Buying Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Asbury Automotive Group, Inc.
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 AutoNation, Inc.
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 CarGurus, Inc.
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 MH Sub I, LLC (CarsDirect)
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 Cars.com Inc.
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 Cars24 Services Private Limited
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 Group 1 Automotive, Inc.
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 Hendrick Automotive Group
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 Lithia Motors, Inc.
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 TrueCar, Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Online Car Buying Market: Key Industry Highlights, 2018 and 2032
2. Global Online Car Buying Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3. Global Online Car Buying Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4. Global Online Car Buying Historical Market: Breakup by Propulsion Type (USD Million), 2018-2023
5. Global Online Car Buying Market Forecast: Breakup by Propulsion Type (USD Million), 2024-2032
6. Global Online Car Buying Historical Market: Breakup by Category (USD Million), 2018-2023
7. Global Online Car Buying Market Forecast: Breakup by Category (USD Million), 2024-2032
8. Global Online Car Buying Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Online Car Buying Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Online Car Buying Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Online Car Buying Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Online Car Buying Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Online Car Buying Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Online Car Buying Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Online Car Buying Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Online Car Buying Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Online Car Buying Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Online Car Buying Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Online Car Buying Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Online Car Buying Market Structure
Key Questions Answered in the Report
The market reached a value of USD 298.57 billion in 2023.
The market is estimated to grow at a CAGR of 11.90% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 584.6 billion by 2032.
Growing transition from traditional to online modes of car buying for more personalised experiences, rising disposable income, heightened adoption of smart devices, and several advantages offered by online car buying are the major drivers of the market.
The key trends in the market include the changing preference of customers towards avoiding stressful negotiations, increasing online promotions by dealerships of their products and deals, and rising demand for pre-owned vehicles.
Hatchback, sedan, and SUV, among others, are the different vehicle types in the market for online car buying.
Petrol, and diesel, among others, are the major propulsion types in the market for online car buying.
Asbury Automotive Group, Inc., AutoNation, Inc., CarGurus, Inc., MH Sub I, LLC (CarsDirect), Cars.com Inc., Cars24 Services Private Limited, Group 1 Automotive, Inc., Hendrick Automotive Group, Lithia Motors, Inc., and TrueCar, Inc., among others, are the key online car buying market players, according to the report.
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