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Global Online Car Buying Market to reach USD 670.48 billion by the end of 2029

Global Online Car Buying Market Size study & Forecast, by Vehicle Type (Hatchback, Sedan, SUV), Propulsion Type (Petrol, Diesel and Others) and Category (Pre-owned vehicle and New vehicle) and Regional Analysis, 2022-2029

Product Code: ICTICTS-16616706
Publish Date: 8-02-2023
Page: 200

Global Online Car Buying Market is valued approximately USD 266.96 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.2% over the forecast period 2022-2029. Online Car Buying refers to buying of new and preowned vehicles through a direct to customer platform. Online car buying platforms enables customer to directly purchase vehicle from the manufacturer and reduces the number of intermediates involved in sales and distribution of vehicles. Moreover, the use of online car buying platform also reduces sales and distribution cost to the car manufacturing companies. The increasing expansion of E-commerce and online technologies and growing adoption of digital technologies in automotive retail sector are key factors accelerating the market growth.

The growing expansion of global e-commerce sector is contributing to the growth of the Global Online Car Buying Market. For instance, according to Statista – in 2019, the cross-border online shopping sector was estimated at USD 579 billion, and the market is projected to grow to USD 2.25 trillion by 2026. Moreover, the increasing adoption of digital technologies in automotive retailing is also driving the market growth. For instance, in May 2020, India based Mahindra & Mahindra company has launched a new end to end car sales platform named Own-online. This new platform would enable customers to finance, insure, exchange, accessorize and own a company vehicle. Also, increasing penetration of smartphones & high-speed internet services and growing automobile sector in developing regions would create lucrative growth prospectus for the Global Online Car Buying Market. However, rising concern over data privacy stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Online Car Buying Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of leading market players and rising expansion of ecommerce sector in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising adoption of Online Car Buying platforms and increasing growth of automotive manufacturing sector in the region.

Major market player included in this report are:
Asbury Automotive Group, Inc.
AutoNation, Inc.
Cargurus, Inc.
CarsDirect
Cars.com, Inc.
Cox Automotive Inc
Group1 Automotive Inc.
Hendrick automotive group
Lithia motors, Inc.
TrueCar, Inc.

Recent Developments in the Market:
 In September 2021, Car Trade has launched offline and online retail platform ‘CarWale abSure’ for buying and selling of pre-owned cars. Initially the company has launched this new service in 09 Indian cities Mumbai, Bangalore, Surat, Kanpur, Noida, Chennai, Bhopal, Kolkata, and Ahmedabad.

Global Online Car Buying Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Vehicle Type, Propulsion Type, Category, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type
Hatchback
Sedan
SUV
By Propulsion Type
Petrol
Diesel
Others
By Category
Pre-owned vehicle
New vehicle

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Online Car Buying Market, by Region, 2019-2029 (USD Billion)
1.2.2. Online Car Buying Market, by Vehicle Type, 2019-2029 (USD Billion)
1.2.3. Online Car Buying Market, by Propulsion Type, 2019-2029 (USD Billion)
1.2.4. Online Car Buying Market, by Category, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Online Car Buying Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Online Car Buying Market Dynamics
3.1. Online Car Buying Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Increasing expansion of E-commerce and online technologies
3.1.1.2. Growing adoption of digital technologies in automotive retail sector
3.1.2. Market Challenges
3.1.2.1. Growing concern over data privacy
3.1.3. Market Opportunities
3.1.3.1. Increasing penetration of smartphones & high-speed internet services
3.1.3.2. Growing automobile sector in developing regions
Chapter 4. Global Online Car Buying Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Online Car Buying Market, by Vehicle Type
6.1. Market Snapshot
6.2. Global Online Car Buying Market by Vehicle Type, Performance – Potential Analysis
6.3. Global Online Car Buying Market Estimates & Forecasts by Vehicle Type 2019-2029 (USD Billion)
6.4. Online Car Buying Market, Sub Segment Analysis
6.4.1. Hatchback
6.4.2. Sedan
6.4.3. SUV
6.4.4. Others
Chapter 7. Global Online Car Buying Market, by Propulsion Type
7.1. Market Snapshot
7.2. Global Online Car Buying Market by Propulsion Type, Performance – Potential Analysis
7.3. Global Online Car Buying Market Estimates & Forecasts by Propulsion Type 2019-2029 (USD Billion)
7.4. Online Car Buying Market, Sub Segment Analysis
7.4.1. Petrol
7.4.2. Diesel
7.4.3. Others
Chapter 8. Global Online Car Buying Market, by Category
8.1. Market Snapshot
8.2. Global Online Car Buying Market by Category, Performance – Potential Analysis
8.3. Global Online Car Buying Market Estimates & Forecasts by Category 2019-2029 (USD Billion)
8.4. Online Car Buying Market, Sub Segment Analysis
8.4.1. Pre-owned
8.4.2. New Vehicle
Chapter 9. Global Online Car Buying Market, Regional Analysis
9.1. Online Car Buying Market, Regional Market Snapshot
9.2. North America Online Car Buying Market
9.2.1. U.S. Online Car Buying Market
9.2.1.1. Vehicle Type breakdown estimates & forecasts, 2019-2029
9.2.1.2. Propulsion Type breakdown estimates & forecasts, 2019-2029
9.2.1.3. Category breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Online Car Buying Market
9.3. Europe Online Car Buying Market Snapshot
9.3.1. U.K. Online Car Buying Market
9.3.2. Germany Online Car Buying Market
9.3.3. France Online Car Buying Market
9.3.4. Spain Online Car Buying Market
9.3.5. Italy Online Car Buying Market
9.3.6. Rest of Europe Online Car Buying Market
9.4. Asia-Pacific Online Car Buying Market Snapshot
9.4.1. China Online Car Buying Market
9.4.2. India Online Car Buying Market
9.4.3. Japan Online Car Buying Market
9.4.4. Australia Online Car Buying Market
9.4.5. South Korea Online Car Buying Market
9.4.6. Rest of Asia Pacific Online Car Buying Market
9.5. Latin America Online Car Buying Market Snapshot
9.5.1. Brazil Online Car Buying Market
9.5.2. Mexico Online Car Buying Market
9.5.3. Rest of Latin America Online Car Buying Market
9.6. Rest of The World Online Car Buying Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Asbury Automotive Group Inc.
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. AutoNation, Inc.
10.2.3. Cargurus, Inc.
10.2.4. CarsDirect
10.2.5. Cars.com, Inc.
10.2.6. Cox Automotive Inc
10.2.7. Group1 Automotive Inc.
10.2.8. Hendrick automotive group
10.2.9. Lithia motors, Inc.
10.2.10. TrueCar, Inc.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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