The used car market is projected to reach over 1.5 trillion U.S. dollars in 2027, up from 1.2 trillion in 2020. This represents a compound annual growth rate of around 3.2 percent across seven years. This growth is in part attributed to a shift in car ownership patterns across the globe, as well as the rise of online sales channels, which make used cars more accessible to customers.
Projection for the used car market size worldwide between 2020 and 2027
(in trillion U.S. dollars)
An exponential development of the values between 2020 and 2027 was assumed to estimate the annual values. The values for 2020 and 2027 were provided by the source.
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Statista. (March 1, 2021). Projection for the used car market size worldwide between 2020 and 2027 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/
Statista. "Projection for the used car market size worldwide between 2020 and 2027 (in trillion U.S. dollars)." Chart. March 1, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/
Statista. (2021). Projection for the used car market size worldwide between 2020 and 2027 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/
Statista. "Projection for The Used Car Market Size Worldwide between 2020 and 2027 (in Trillion U.S. Dollars)." Statista, Statista Inc., 1 Mar 2021, https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/
Statista, Projection for the used car market size worldwide between 2020 and 2027 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/ (last visited November 21, 2024)
Projection for the used car market size worldwide between 2020 and 2027 (in trillion U.S. dollars) [Graph], Statista, March 1, 2021. [Online]. Available: https://www.statista.com/statistics/1264403/used-car-global-market-size-forecast/
