Pre-owned Luxury Cars Market, Pre-owned Luxury Cars Market Size, Pre-owned Luxury Cars Market Trends, Pre-owned Luxury Cars Market Forecast, Pre-owned Luxury Cars Market Risks, Pre-owned Luxury Cars Market Report, Pre-owned Luxury Cars Market Share

According to a new report published by xResearch, titled, “Pre-owned Luxury Cars Market 2022- Industry Insights, Trends, Opportunity & Forecast, 2021–2030,” the global pre-owned luxury cars market size is anticipated to witness exponential growth during the forecast period i.e. 2022-2030 at a CAGR of 22.0%.

 

The rising number of people aspiring to experience and own a luxury car across the globe, the surging preference for personal mobility among people across regions, the rapidly increasing demand and sales of pre-owned luxury vehicles across the globe and the shifting priority towards owning a luxury car due to improving living standards and income levels of the common people are among the major factors contributing towards the growth of the global pre-owned luxury cars market.

 

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According to vehicle type, the SUV segment is anticipated to attain the highest CAGR in the market during the forecast period. According to business type, the organized segment held over 65.0% market share and led the global pre-owned luxury cars market in 2021. The segment is projected to further expand at the fastest growth rate and continue to lead the market during the 2022-2030 period. The growing number of luxury car manufacturers entering the pre-owned segment for enhancing their overall sales across regions is the major factor fueling the growth of the segment. The unorganized segment accounted for a considerable share in the global pre-owned luxury cars market in 2021 with the customer-to-customer sub-segment dominating in the global market.

 

The North American region and the European region held the largest and the second largest shares in the global pre-owned luxury cars market in 2021 and are expected to further maintain their lead in the market during the forecast. The Asia Pacific region is estimated to emerge as the fastest growing regional market for pre-owned luxury cars by registering robust growth during the forecast period. The rapidly surging population, the rising popularity of pre-owned luxury items, the growing purchasing power of the country’s service class and the low penetration of cars in the region are among the major factors driving growth in region.

 

Some of the major pre-owned luxury cars companies profiled in the report include Mercedes-Benz , Big Boy Toyz , Marketplace, Audi, Luxury Ride, Autobest, Kingsauto, Auto Hangar, The Car Mall (TCM) and Droom.

 

The global pre-owned luxury cars market is segmented into vehicle type, drive type, business type, end-user and region. Based on vehicle type, the market is bifurcated into hatchback, sedan and SUV. Based on drive type, it is classified into IC Engine and electric. Based on business type, it is classified into organized and unorganized. The organized segment is further categorized into dealerships, multi-brand showrooms and online portals. The unorganized segment is further categorized into customer-to-customer, brokers, mechanics and newspaper advertisements. Based on end-user, it is classified into individual, corporate, sports organization, associations and othes.

 

The global pre-owned luxury cars market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

 

Key Insights of Pre-owned Luxury Cars Market

  • On the basis of vehicle type, the SUV segment is anticipated to attain the highest CAGR in the market during the forecast period.
  • On the basis of business type, the organized segment held over 65.0% market share and led the global pre-owned luxury cars market in 2021. The segment is projected to further expand at the fastest growth rate and continue to lead the market during the 2022-2030 period.
  • On the basis of region, North America and Europe held the largest and the second largest shares in the global pre-owned luxury cars market in 2021 and are expected to further maintain their lead in the market during the forecast.
  • On the basis of region, Asia Pacific is estimated to emerge as the fastest growing regional market for pre-owned luxury cars by registering robust growth during the forecast period.

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

 

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