Sale

Online Car Buying Market

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 334.10 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 916.60 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.

 

Global Online Car Buying Market

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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.

 

Global Online Car Buying Market

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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.

 

Global Online Car Buying Market

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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:

  • Vehicle Type
  • Propulsion Type
  • Category
  • Region
Breakup by Vehicle Type
  • Hatchback
  • Sedan
  • SUV
  • Others
Breakup by Propulsion Type
  • Petrol
  • Diesel
  • Others
Breakup by Category
  • Pre-Owned Vehicle
  • New Vehicle
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*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 334.10 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 916.60 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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