In 2024, the ranking of the world’s largest car brands was topped by Toyota with a market share of around **** percent. The Toyota brand is owned by Japan's Toyota Motor Corporation, the world's largest motor vehicle manufacturer. New trends in the auto industry In light of growing environmental awareness and increasing efforts to connect vehicles, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric and autonomous vehicles are set to revolutionize the industry. Palo Alto-based Tesla Motors is currently among those at the vanguard of the trend towards electrification, along with the Chinese car manufacturer BYD. Tesla delivered nearly **** million vehicles in 2024, meaning that Volkswagen Group's sales tally is over **** times as much. The state of the global auto industry Car sales worldwide have dipped between 2019 and 2020 as a result of the economic downturn generated by the COVID-19 pandemic. 2021 sales recovered, despite remaining below 2019 levels, but supply chain shortages led to a slow recovery of sales in 2022. By the end of 2023, the global car sales volume had grown over pre-pandemic levels. China was the largest automobile market based on new passenger car registrations, recording close to **** million units sold. It was followed by the United States and Europe. China was also the leading passenger car producing country in 2024.

The Volkswagen Group accounted for over ******* of new car registrations in the European market between January and December 2024. That year, the automaker sold some *** million units, roughly *** million units more than the manufacturer's closest rival. Stellantis becomes Europe's second largest auto manufacturer Second-placed Stellantis comprises 14 brands, including Opel and Vauxhall, two brands previously owned by General Motors, in 2017. Stellantis was formed by the merger of FCA and PSA. Incentives offered by the French government fuelled demand in PSA's domestic market, France. However, the French market crumbled in Autumn 2020 and Germany remained as Europe's leading passenger car market. In May 2021, German manufacturers – Volkswagen and peer automakers Daimler and BMW – held just under ** percent of the European market. European car sales collapsed during the pandemic Between January and December 2020, passenger car sales in Europe decreased by about ** percent to roughly ** million units. Sales began to tank mid-March, amid the coronavirus pandemic in Europe. Year-on-year sales were still down ** percent in May 2020, but car sales began to bounce back as economies reopened. Month-on-month sales more than ******* in May and continued on an upward trajectory in June. Sales were back to normal levels in September and October. Outbreaks of COVID-19 in the Autumn of 2020 prevented a positive end to the year for the automotive industry.

The North America Automotive Market Report is Segmented by Vehicle Type (Passenger Cars, Light Commercial Vehicles, and More), Propulsion Type (ICE, and More), Sales Channel (OEM-Franchised Dealer, and More), Level of Automation (Level 0–1, Level 2, Level 3, and Level 4–5), and Country (United States, Canada, Rest of North America). The Market Forecasts are Provided in Terms of Value (USD) and Volume in Units.

In 2024, Ford was the second most popular car brand in the United Kingdom after Volkswagen. The Detroit-based company sold some ******* vehicles in the UK and reached a market share of about *** percent that year. Volkswagen held some *** percent of the market. Ford in the United Kingdom Brexit casts its shadow over the auto industry, and hence, the company decided to shut down its plant in Bridgend, adding on to the growing list of automakers in the process of ceasing operations at car production plants in the United Kingdom. That said, the Ford Motor Company will remain present in the United Kingdom, continuing to operate an engine plant in Dagenham. Car sales in the United Kingdom were down ** percent in May 2020, due to closed dealerships and consumer spending uncertainty amid the coronavirus pandemic. By the end of December 2020, UK car sales were down by almost eleven percent compared with 2019.

Egypt's automotive market is witnessing fierce competition among top brands, with Nissan leading the pack in the first quarter of 2024. The Japanese manufacturer accounted for nearly ** percent of the market share, followed closely by Toyota and Chevrolet. This competitive landscape reflects the broader trends in Africa's automotive industry, where vehicle sales, for instance, have been fluctuating in recent years. African automotive market overview The continent's new vehicle sales reached more than **** million units in 2024, continuing a pattern of fluctuation observed over the past few years. While this marks a modest rise compared to 2023, the overall trend has been shaped by varying economic conditions, shifting consumer preferences, and uneven growth across regional markets. South Africa dominated the market with around ******* vehicles sold, while Morocco and Egypt followed with ******* and ****** units, respectively. These figures underscore the significant variations in market size across different African countries. Trends in vehicle types and exports in Africa The African automotive industry is characterized by strong passenger vehicle sales, with these vehicles making up the majority of the market. In 2024, nearly ******* passenger cars were sold across the continent, compared to around ******* commercial vehicles. This reflects steady consumer demand in countries like Egypt, where brands such as Nissan and Toyota have established significant market presence. Additionally, Morocco has emerged as a key player in the African automotive sector, leading the continent in car exports with a value of approximately *** billion U.S. dollars in 2024. This highlights the region’s growing role in global automotive trade.

The North American automotive industry, valued at $0.99 million in 2025 (assuming this figure represents a segment of the overall market, not the total), is projected to experience robust growth, driven by several key factors. A Compound Annual Growth Rate (CAGR) of 5.43% from 2025 to 2033 suggests a significant expansion in market size over the forecast period. This growth is fueled by increasing consumer spending on vehicles, particularly in passenger cars and light commercial vehicles, spurred by economic recovery and favorable financing options. The rising adoption of electric and hybrid vehicles, coupled with advancements in autonomous driving technology, represents a significant trend shaping the industry's trajectory. However, challenges remain, including supply chain disruptions which continue to impact production and pricing, rising raw material costs, and evolving consumer preferences that demand greater fuel efficiency and sustainable manufacturing practices. The market segmentation reveals significant variation in growth across vehicle types, with passenger cars and light commercial vehicles potentially outpacing growth in heavier commercial vehicles and two-wheelers due to differing economic sensitivities and technological advancements. Geographic distribution also plays a significant role, with the United States likely dominating the market share given its larger economy and vehicle ownership trends compared to Canada and the rest of North America. Major players like Fiat Chrysler Automobiles, General Motors, Ford, Toyota, and Tesla are strategically positioning themselves to capitalize on these emerging trends, investing heavily in electric vehicle (EV) development, innovative technologies, and sustainable manufacturing. The competitive landscape is fierce, with ongoing mergers, acquisitions, and strategic partnerships shaping the industry's structure. The forecast period will likely witness a consolidation of market share amongst the larger players, potentially leading to some smaller manufacturers exiting the market or being acquired. Furthermore, government regulations promoting clean energy and reducing emissions will significantly impact the industry's product offerings and manufacturing processes in the coming years. The consistent growth projected indicates a positive outlook, but the industry must adapt proactively to the challenges to maintain its momentum. This comprehensive report provides a detailed analysis of the North America automotive industry, encompassing the historical period (2019-2024), base year (2025), and forecast period (2025-2033). The study covers passenger cars, light commercial vehicles (LCVs), medium and heavy commercial vehicles (M&HCVs), and two-wheelers across the United States, Canada, and the Rest of North America. With a focus on market size (in million units), key players, and emerging trends, this report is an essential resource for businesses, investors, and policymakers seeking to understand this dynamic sector. Search terms used include: North America automotive market, automotive industry trends, electric vehicle market, commercial vehicle sales, passenger car sales, US automotive industry, Canadian automotive market. Recent developments include: July 2022: Cadillac unveiled the Celestiq show car, a vision of innovation that previews the brand's future handcrafted and all-electric flagship sedan. The Ultium-based electric show car previews some of the materials, innovative technologies, and hand-crafted attention to detail harnessed to express Cadillac's vision for the future., July 2022: Amazon began deploying its custom electric delivery vehicles from Rivian for package delivery, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities., January 2022: Tesla Inc. had a supply agreement with Talon Metals Corp., a subsidiary of Talon Nickel LLC, for the supply of nickel. This agreement will lead to the production of battery material from mine to battery cathode in order to make the electric vehicle battery more eco-friendly.. Key drivers for this market are: Growing Travel and Tourism Industry is Driving the Car Rental Market. Potential restraints include: Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market. Notable trends are: Rising Electric Mobility to Drive Demand in the Market.

Snapshot img

US Used Car Market Size 2025-2029

The US used car market size is forecast to increase by USD 40.2 billion, at a CAGR of 4.3% between 2024 and 2029.

The used car market in the US is witnessing significant growth, driven by the excellent value proposition that used cars offer to consumers. The increasing popularity of websites dedicated to selling used cars has expanded market reach and convenience, allowing consumers to browse and purchase vehicles online. Stringent emission regulations are restricting the sales of non-compliant used cars, necessitating investments in upgrading and maintaining commercial vehicle fleets to meet regulatory requirements. These regulations necessitate investments in emission testing and certification processes, increasing operational costs for dealers. To capitalize on opportunities, dealers can focus on offering certified pre-owned vehicles and implementing robust emission testing procedures.
Additionally, leveraging digital marketing strategies and offering flexible financing options can help attract and retain customers. Overall, the used car market presents both challenges and opportunities for players, requiring strategic planning and innovation to succeed.

What will be the size of the US Used Car Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The used car market in the US continues to evolve, with various sectors adapting to emerging trends and technologies. Vehicle data analysis plays a pivotal role in understanding vehicle depreciation curves and return on investment for dealers. Payment processing systems streamline sales transactions, while sales performance metrics and customer lifetime value inform strategic decision-making. Fraud detection systems ensure compliance with legal standards, and insurance cost factors influence acquisition channel efficiency. Inventory turnover rate, a key performance indicator, varies across dealerships. Compliance audits and dealer training programs maintain legal compliance and improve customer satisfaction. Market penetration rate and resale value prediction help dealers optimize pricing models.
Consumer protection laws and financing product offerings shape customer trust and loyalty. Operating costs analysis, customer service feedback, and sales conversion rates contribute to profit margin calculation. Risk assessment models, employee performance metrics, marketing spend efficiency, and pricing model validation are essential for long-term success. A recent study reveals a 5% increase in sales for dealerships implementing advanced data analytics. Industry growth is expected to reach 3% annually, driven by these evolving market dynamics.

How is this market segmented?

The US used car market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  3P channel sales
  OEM channel sales


Product

  Mid size
  Full size
  Compact size


Vendor Type

  Organized
  Unorganized


Fuel Type

  Diesel
  Petrol


Geography

  North America

    US

By Distribution Channel Insights

The 3P channel sales segment is estimated to witness significant growth during the forecast period.

The used car market in the US is an active and dynamic sector, driven by various factors. With the constant launch of new vehicle models, the supply of used cars increases, resulting in lower prices compared to new cars. This trend encourages car owners to sell their vehicles and upgrade to newer models, shortening the average ownership cycle. Online advertising platforms play a significant role in connecting buyers and sellers. Pre-purchase inspections and vehicle history reports ensure transparency and build trust. Repairs cost estimation and parts sourcing networks help in managing the expenses of used car ownership. Market segmentation strategies cater to different customer needs, while customer relationship management tools foster loyalty.

Emissions testing standards ensure the environmental sustainability of used vehicles. Auto appraisal value tools help in determining fair prices, and loan term comparison aids in financing decisions. Marketing campaign effectiveness is measured through customer acquisition cost and interest rate calculation. Mobile apps offer functionalities like mechanical inspection checklists, paint depth measurement, and damage assessment tools. Dealer inventory management, detailing services, and vehicle photography techniques enhance the sales process. Industry growth is expected to continue, with the used car market projected to expand by 3% annually. For instance, a dealership successfully increased its sales by 15% thr

The Germany Used Car Market Report is Segmented by Vehicle Type (Hatchbacks, Sedans, and More), Vendor Type (Organized and Unorganized), Fuel Type (Petrol and More), Vehicle Age (0 To 2 Years and More), Price Segment (Below USD 5, 000 and More), Sales Channel (Online and Offline), and Ownership (First-Owner Resale and Multi-Owner). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The United States Used Car market was valued at USD 238.57 Billion in 2024 and is expected to reach USD 354.04 Billion by 2030 with a CAGR of 6.80%.

The Car Sales Dataset is a collection of data that contains information on various car models sold in the market. The dataset includes variables such as the price of the car in thousands of dollars, engine size, horsepower, fuel efficiency, and sales. 1. Price_in_thousands: This variable represents the price of the car in thousands of dollars, which is a measure of the car's cost. 2. Engine_size: This variable represents the size of the engine in cubic centimeters, which is a measure of the car's power. 3. Horsepower: This variable represents the power of the car's engine in horsepower, which is a measure of the car's ability to accelerate and maintain speed. 4. Fuel_efficiency: This variable represents the number of miles per gallon (mpg) that the car can travel on a single gallon of fuel, which is a measure of the car's fuel efficiency. 5. Sales: This variable represents the number of units of the car sold in a given period, which is a measure of the car's popularity and demand in the market.

Overall, this dataset can be used to analyze the relationships between the different variables and to predict the sales of a car based on its price, engine size, horsepower, and fuel efficiency. It can be helpful for businesses and consumers alike in making informed decisions about buying and selling cars.

Full-Size Car Market Outlook

As per our latest research, the global full-size car market size in 2024 stands at USD 215.3 billion, driven by the persistent demand for spacious, comfortable vehicles across both developed and emerging economies. The market is experiencing a steady upward trajectory, with a compounded annual growth rate (CAGR) of 4.1% projected from 2025 to 2033. By the end of 2033, the market is expected to reach an impressive USD 307.5 billion, reflecting robust consumer interest and ongoing technological advancements. This growth is underpinned by evolving mobility preferences, rising disposable incomes, and continuous innovation in vehicle safety and infotainment systems, making full-size cars an attractive choice for a broad spectrum of end-users.

One of the primary growth factors fueling the full-size car market is the increasing consumer preference for vehicles that offer superior comfort, advanced safety features, and enhanced driving experiences. Full-size cars, especially sedans and station wagons, are increasingly being equipped with state-of-the-art infotainment systems, autonomous driving capabilities, and premium interiors. The integration of such features caters to both individual and commercial users who prioritize luxury and functionality. Additionally, the growing trend of long-distance travel and family-oriented road trips, particularly in North America and Europe, is further boosting the demand for full-size vehicles. Automakers are responding by launching new models with customizable options, which has positively influenced purchasing decisions and contributed significantly to the market’s expansion.

Another significant driver is the rapid advancement in powertrain technologies, particularly the shift towards electric and hybrid full-size cars. Stringent regulatory frameworks aimed at reducing vehicular emissions, coupled with heightened environmental consciousness among consumers, are encouraging manufacturers to invest heavily in electrification. This transition is evident in the increasing number of electric and hybrid models being introduced by leading OEMs. Moreover, government incentives, subsidies, and the expansion of charging infrastructure are making it increasingly feasible for consumers to adopt electric full-size cars. As a result, the electric and hybrid segments are expected to exhibit the fastest growth rates within the overall market, reshaping the competitive landscape and accelerating the transition towards sustainable mobility solutions.

The proliferation of ride-hailing and car rental services is also playing a pivotal role in the growth of the full-size car market. Commercial and rental end-users are increasingly opting for full-size vehicles due to their versatility, passenger capacity, and enhanced comfort. This trend is particularly prominent in urban centers and tourist destinations, where demand for premium transportation services is on the rise. The adoption of full-size cars by fleet operators is further supported by attractive leasing options and after-sales service packages offered by OEMs. As the shared mobility ecosystem continues to evolve, the commercial and rental segments are poised to contribute a substantial share to the overall market revenue over the forecast period.

From a regional perspective, the Asia Pacific region is emerging as a key growth engine for the full-size car market, driven by rapid urbanization, rising middle-class populations, and increasing automotive investments in countries like China, India, and Japan. North America and Europe, on the other hand, continue to maintain significant market shares owing to their established automotive industries, high per capita incomes, and strong consumer affinity for large vehicles. The Middle East & Africa and Latin America are also witnessing gradual growth, supported by infrastructural developments and expanding transportation networks. Collectively, these regional dynamics are shaping the global competitive landscape and creating new avenues for market participants.

The global car market has been valued at USD 1.61 trillion in 2025 and is forecast to reach nearly USD 4.8 trillion by 2035, expanding at a CAGR of 11.5%.

The mid-size car market, a significant segment within the global automotive industry, is poised for substantial growth over the next decade. While precise market size figures for 2025 require proprietary data, industry analysis suggests a market valuation in the range of $150 billion to $200 billion, given the substantial presence of major automotive players like Toyota, Honda, and Volkswagen in this category. This substantial market size is driven by factors such as increasing disposable incomes in emerging economies, a growing preference for fuel-efficient vehicles, and ongoing technological advancements leading to improved safety features and enhanced in-car technology. The adoption of hybrid and electric powertrains is a key trend, influencing vehicle design and consumer preferences towards sustainable mobility. However, economic fluctuations, raw material price volatility, and stricter emission regulations present challenges to market growth. These challenges are further compounded by the rise of SUVs and crossovers, which have witnessed a recent surge in popularity, posing competitive pressure on the mid-size car segment. Despite these constraints, the market is expected to maintain a healthy Compound Annual Growth Rate (CAGR) of approximately 3-5% from 2025 to 2033. This growth will be fueled by innovations in connected car technologies, autonomous driving features, and the ongoing development of affordable electric and hybrid mid-size vehicles. Regional variations are anticipated, with markets in Asia-Pacific and North America likely to experience stronger growth rates than mature markets in Europe. Leading automotive manufacturers are strategically investing in research and development to meet evolving consumer demands and maintain their competitiveness within this dynamic segment. Success will depend on adapting to technological changes, understanding regional consumer preferences, and effectively addressing environmental concerns.

Explore the booming compact car market! Discover key trends, growth drivers, and challenges shaping the industry until 2033. This in-depth analysis reveals market size, regional shares, and leading automotive brands, providing valuable insights for investors and industry professionals.

The global medium car market, encompassing vehicles like sedans and hatchbacks, is a dynamic and competitive landscape. While precise market size figures for 2025 aren't provided, we can infer substantial size based on the presence of major global automotive players like Toyota, Honda, Volkswagen, and others heavily invested in this segment. The market's Compound Annual Growth Rate (CAGR) — let's conservatively estimate it at 3% for the forecast period (2025-2033) — suggests steady, albeit moderate, growth. This growth is likely driven by factors such as increasing urbanization in developing economies, a growing middle class with disposable income, and ongoing improvements in fuel efficiency and technological features in medium cars. However, the market faces headwinds including the rise of electric vehicles (EVs) and SUVs, which are attracting increasing consumer preference, and fluctuating global economic conditions impacting consumer purchasing power. Segmentation within the medium car market is crucial; factors like engine type (gasoline, diesel, hybrid, electric), body style (sedan, hatchback, station wagon), and price point significantly influence market share. Regional variations also exist, with established markets in North America and Europe facing competitive pressures from rapidly developing markets in Asia, particularly China. The competitive landscape is intensely saturated, with established automakers vying for market leadership. Companies like Toyota, Honda, and Volkswagen hold significant market share, leveraging their established brand reputation and extensive distribution networks. However, emerging players, especially from China like BYD and Geely, are rapidly gaining traction with innovative designs and competitive pricing. Future growth will depend on adapting to changing consumer preferences, embracing technological advancements like electrification and autonomous driving capabilities, and successfully navigating global supply chain challenges and economic volatility. Strategic alliances, mergers, and acquisitions are likely to shape the competitive dynamics in the coming years, particularly as the industry transitions toward sustainable mobility solutions.

The CIS passenger car market dropped to $52.3B in 2024, flattening at the previous year. The total consumption indicated mild growth from 2012 to 2024: its value increased at an average annual rate of +1.0% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +8.4% against 2020 indices.

Discover the latest trends shaping the global compact car market. This in-depth analysis projects steady growth through 2033, driven by urbanization and technological advancements, but also highlights challenges such as rising costs and competition. Learn about key players, regional market share, and future growth potential.

The Japan Used Car Market Report is Segmented by Vehicle Type (Hatchback, Sedan, Sport Utility Vehicle, and More), Fuel (Gasoline, Diesel, and More), Vehicle Age (0 -2 Years, 3 -5 Years, and More), Booking Channel (Online, OEM Certified or Authorized Dealerships, Multi-Brand Dealerships, and More), and Transaction Type (Full Payment and Finance). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

In 2024, Toyota held some *****percent of the Californian new light vehicle market, followed by Tesla at **** percent and Honda at **** percent. Toyota was also the best-selling automotive brand worldwide that year, with an estimated global market share of **** percent. Comparatively, Tesla fell lower in the global rankings.

The classic car market is projected to reach a value of 55.73 billion by 2033, exhibiting a CAGR of 6.45%. The market is driven by increasing disposable income, rising interest in classic cars as investment vehicles, and the popularity of classic car shows and events. The growing number of enthusiasts and collectors is fueling demand for rare and unique classic cars. The market is also supported by the increasing availability of restoration and maintenance services, which helps preserve the value of classic cars. Key trends in the classic car market include the rising popularity of online auctions, the increasing use of social media to promote and sell classic cars, and the emergence of new markets, such as China and India. The market is also seeing a shift toward electric and hybrid classic cars, as well as a growing interest in classic SUVs and trucks. The market is dominated by a few key players, such as Barrett-Jackson, Mecum Auctions, and RM Sotheby's, which account for a significant share of the global classic car auction market. Key drivers for this market are: 1 Rising Popularity Among Millennials and Gen Z2 Increasing Demand for Electric Classic Cars3 Growing Investment Opportunities in Classic Car NFTs4 Expansion of Classic Car Museums and Events5 Government Support for Heritage Preservation. Potential restraints include: 1 Rising demand for vintage vehicles2 Increasing affluence in emerging markets3 Limited supply of classic cars4 Technological advancements in restoration5 Growth of online classic car marketplaces.