The Used Car and Refurbished Car Sales Market deals in promoting the cars sales, especially used & refurnished cars. A used car is one which had one or more users previously whereas a refurnished car is one which has been refitted or re manufactured due to some technical issues. Certified used cars are playing an important role in the modern world by providing many advantages to the users like better price, depreciation benefits, avoiding new car fees etc. In car research, secondhand cars are widely preferred due to the benefits provided by them.
Based on the fuel types used car sales market segmented into Gasoline, Diesel, Alternative Fuels, Compressed natural Gas (CNG), Liquefied Petroleum Gas (LPG), Battery Electric Vehicles and Hybrids. Also, based on dealership the car classified into franchised, independent and some others.
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Scope & Regional Forecast of the Used Car and Refurbished Car Sales Market
The advantageous benefits provided in the used cars and refurnished cars sales and the wide usage of these cars are the main key growth factors of the Used Car and Refurbished Car Sales Market. The estimated value of used cars market is almost close to the value of new cars market. This market has been growing tremendously and has become an integral part of the automotive industry. The inability of the costumers to buy new cars due to economic crisis, results a great demand for cheapest used cars.
The Used Car and Refurbished Car Sales Market is registering the fastest growth in the regions like Asia-Pacific, Americas and Europe, due to the increasing average of cars by technological advancement. Moreover, in all most all parts of the world the manufacturers are playing the key role by providing an option of trading in old cars for new and used cars, which results in high growth for this market.
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Segmentations & Key Players Involved in the Used Car and Refurbished Car Sales Market
The Used Car and Refurbished Car Sales Market can be broken down into various segmentations on the basis of -
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Fuel Types: Gasoline, Diesel, Alternative Fuels, Compressed natural Gas (CNG), Liquefied Petroleum Gas (LPG), Battery Electric Vehicles and Hybrids.
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Dealership: Franchised, Independent and Others.
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Vehicle Type: Passenger, Commercial, Light Commercial Vehicle, Sports Cars and Others.
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Regions: Americas,Europe, Asia-Pacific and Rest of the World (RoW).
Some of the key players involved in the Used Car and Refurbished Car Sales Market are as follows:
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Automation
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Penske Automotive Group
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Asbury Automotive Group
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Tata Motors Assured
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Mahinda FirstChoice
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* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
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* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2017 - 2022, to assess how the market will develop.
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