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Online Car Buying Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 143 pages | ID: O5152E9463A2EN
IMARC Group

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The global online car buying market size reached US$ 294.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 563.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.1% during 2023-2028.

Online car buying refers to an e-commerce activity wherein customers can directly buy or lease new or pre-owned cars using a web browser or a mobile app. It is convenient, affordable, time-efficient, and hassle-free and offers a huge product catalog and several customized services. Nowadays, several companies utilize intelligent search engines on their websites to help customers compare multiple cars in different price ranges or negotiate for a fair deal with car owners worldwide.

Online Car Buying Market Trends:
The thriving e-commerce industry on account of the rising awareness among individuals about the associated convenience represents one of the key factors driving the demand for online car buying across the globe. This can also be attributed to the increasing digital literacy, improving internet accessibility, rapid urbanization, and inflating disposable income levels. Moreover, with the surging use of social media networking sites, companies are offering innovative car deals via these sites, which is influencing the market positively. Apart from this, there is a significant rise in the demand for electric vehicles (EVs), which can be accredited to the growing concerns among people about the detrimental environmental effects of petrol-based automobiles. In addition, as governing agencies of numerous countries are implementing favorable policies to promote the usage of fuel-efficient cars, there is an increase in the adoption of online car buying portals to purchase EVs from across the globe. Furthermore, the emerging trend of personal vehicles on account of improving urban road infrastructure is contributing to the market growth. The rising popularity of pre-owned cars, especially among the young population, due to their affordability and accessibility is also impelling the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global online car buying market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on vehicle type, propulsion type and category.

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
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Asbury Automotive Group Inc., AutoNation Inc., Cargurus Inc., CarsDirect.com, Cars.com Inc., Cox Automotive Inc, Group 1 Automotive Inc., Hendrick Automotive Group, Lithia Motors Inc. and TrueCar Inc.

Key Questions Answered in This Report
1. What was the size of the global online car buying market in 2022?
2. What is the expected growth rate of the global online car buying market during 2023-2028?
3. What are the key factors driving the global online car buying market?
4. What has been the impact of COVID-19 on the global online car buying market?
5. What is the breakup of the global online car buying market based on the vehicle type?
6. What is the breakup of the global online car buying market based on the propulsion type?
7. What is the breakup of the global online car buying market based on the category?
8. What are the key regions in the global online car buying market?
9. Who are the key players/companies in the global online car buying market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL ONLINE CAR BUYING MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY VEHICLE TYPE

6.1 Hatchback
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Sedan
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 SUV
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY PROPULSION TYPE

7.1 Petrol
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Diesel
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Others
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY CATEGORY

8.1 Pre-Owned Vehicle
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 New Vehicle
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Asbury Automotive Group Inc.
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 AutoNation Inc.
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3 Cargurus Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
  14.3.4 CarsDirect.com
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Cars.com Inc.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
  14.3.6 Cox Automotive Inc
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 SWOT Analysis
  14.3.7 Group 1 Automotive Inc.
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8 Hendrick Automotive Group
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9 Lithia Motors Inc.
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
    14.3.9.4 SWOT Analysis
  14.3.10 TrueCar Inc.
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials

LIST OF TABLES

Table 1: Global: Online Car Buying Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Online Car Buying Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 3: Global: Online Car Buying Market Forecast: Breakup by Propulsion Type (in Million US$), 2023-2028
Table 4: Global: Online Car Buying Market Forecast: Breakup by Category (in Million US$), 2023-2028
Table 5: Global: Online Car Buying Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Online Car Buying Market: Competitive Structure
Table 7: Global: Online Car Buying Market: Key Players

LIST OF FIGURES

Figure 1: Global: Online Car Buying Market: Major Drivers and Challenges
Figure 2: Global: Online Car Buying Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Online Car Buying Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Online Car Buying Market: Breakup by Vehicle Type (in %), 2022
Figure 5: Global: Online Car Buying Market: Breakup by Propulsion Type (in %), 2022
Figure 6: Global: Online Car Buying Market: Breakup by Category (in %), 2022
Figure 7: Global: Online Car Buying Market: Breakup by Region (in %), 2022
Figure 8: Global: Online Car Buying (Hatchback) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Online Car Buying (Hatchback) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Online Car Buying (Sedan) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Online Car Buying (Sedan) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Online Car Buying (SUV) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Online Car Buying (SUV) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Online Car Buying (Other Vehicle Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Online Car Buying (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Online Car Buying (Petrol) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Online Car Buying (Petrol) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Online Car Buying (Diesel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Online Car Buying (Diesel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Online Car Buying (Other Propulsion Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Online Car Buying (Other Propulsion Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Online Car Buying (Pre-Owned Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Online Car Buying (Pre-Owned Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Online Car Buying (New Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Online Car Buying (New Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Online Car Buying Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Online Car Buying Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Online Car Buying Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Global: Online Car Buying Industry: SWOT Analysis
Figure 76: Global: Online Car Buying Industry: Value Chain Analysis
Figure 77: Global: Online Car Buying Industry: Porter's Five Forces Analysis


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