Emergence of number of Unorganized and Online-Auto Classifieds as well as the trend toward upgrading vehicles will drive the Used Car Market in Australia: Ken Research
- Consumer shift from public transport to personal vehicle amid pandemic with rising demand of used cars.
- Increasing awareness about buying and selling used cars through the strong advertisements and entry of new players will provide a major boost to market growth.
- Easy availability of credit for financing pre-owned cars along with attractive interest rates. Entry of major emergent players with easier and user-friendly buyer experience than ever before.
GURUGRAM, India, July 21, 2022 /PRNewswire/ -- Unorganised dealers dominate the Sales Volume in the Market: With majority of independent dealers in the country, the used car market is dominated by unorganized and Semi-organized dealers. Less-aged cars and popular brands with good resale value are highly valued by participants.
Millennials will rule the Consumer Segment in Used Car Market: Millennials of Age between 25-45 years will dominate the Total Used Cars Sales Volume which highlights the Consumer's prominence in Used Car Market. The demand will be fueled by consumers not wanting to buy new cars due to several factors, including the cost of licenses, and the decline in the vehicle's value once they are licensed.
Continuous Product Innovation and New Business Models: New business models such as "Value for Many" will redefine future business propositions and product development. The "make one, sell many" concept implies producing and selling the same product or service to the masses in developing countries or leveraging the market globally.
Digital Transformation: Online players will emphasize on integrating new-age technologies and building a robust sales network to give complete view of the car to customers. Considering the digital transformation across industries, new-age Auto Tech start-ups are emerging to disrupt the pre-owned car market. Social media will play a major role in generating leads for dealers & end consumers by virtue of offering advertisements at a lower cost with respect to other traditional marketing channels.
The report titled "Australia Used Car Market Outlook to 2026F – Driven by the consumer shift to online platforms and supply chain issues for new vehicles with an increasing trend of upgrading vehicles" provides a comprehensive analysis of the used car market and sales in Australia. The report also covers overview and genesis of the industry, used car market size in terms of total revenue generated for total used car volume sales with average price of used car and used to new car ratio; along with Used car finance market size, Used car auction market size, Online e-commerce used car market size, New car market size and market segmentation by type of market structure, type of car, type of manufacturers, by Kms driven, by age of car, by city, by source of lead generation, by age of customer and by income of consumer; snapshot on Online used Car Market, trends and developments, issues and challenges and comparative landscape including competition scenario based on cross comparison in Australia. The report concludes with future market projections of each used car segmentation and Analyst recommendations for Marketing & Promotional Strategies including Business Framework.
Australia Used Car Market
- By Region-wise dealerships
- New South Wales
- Victoria
- Queensland
- Western Australia
- Southern Australia
- Tasmania
By Market Structure
- Organized Sector
- OEM Certified Dealers
- Multi-Brand Non-Franchise Dealerships
- Online E-Commerce Platforms
- Unorganized Sector
- C2C
- Auctions
- Independent Brokers
- Local Dealers
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- By Type of Car
- Sedan
- SUV
- Hatchback/Economy
- By Manufacturer
- Toyota
- Ford
- Holden
- Mazda
- Mitsubishi
- Nissan
- Hyundai
- Mercedes-Benz
- Volkswagen
- Subaru
- BMW
- Kia
- Audi
- Land Rover
- Suzuki
- Volvo
- Others
- By Kms Driven
- 5,000-35,000
- 30,000-80,000
- 80,000-120,000
- Above 120,000
- By Age of Vehicle
- 1-2 years
- 2-5 years
- 5-10 years
- 10 years or more
- By City
- New South Wales
- Victoria
- Queensland
- Western Australia
- Southern Australia
- Tasmania
- Others
- By Transmission
- Manual
- Automatic
- By Fuel Type
- Diesel
- Petrol
- Hybrid
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- By Age of the Consumer:
- 18-34
- 35-54
- 55+
- By Income of the Consumer
- <$50K
- $50K-$99K
- $100K+
- By Source of Lead Generation
- Online
- Offline
- Dealership Sites
Key Target Audience:-
- Used Car Companies
- OEMs
- Multi-Brands
- Online Used Car Portals
- Used Car Financing Companies
- Government Bodies
- Investors & Venture Capital Firms
- Used Car Dealerships
- Used Car Industry
- Used Car Manufacturing Companies
- Used Car Distributors
- Used Car Auction Houses
- Used Car Associations
Time Period Captured in the Report:-
- Base Year: 2021
- Forecast Period: 2021–2026F
Companies Covered:-
Major OEMs
- TOYOTOA CERTIFIED PRE-OWNED
- Hyundai
- Kia
- Ford Motors
- Mazada
- Mitsubishi
- Volkswagon Certified Pre-Owned
- Nissan Certified Pre-Owned
- Subaru Certified Used Cars
- Mercedes Benz Certified
- Suzuki
- Land Rover Approved
- Audi Approved Plus
- Porshe Approved
- BMW Premium Certified
- Volvo Selekt Automark
- Toyota
Major Multi-Brands
- Adelaide Vehicle centre
- OZ Car
- Motorama
- easyauto123
- carz4u
- Dutton Group
- Von Bibra Auto Group
- Gerald Slaven
- Heatland Motors
- Australian Automotive Group
- Autosports Group
- LSH Auto Australia
- DVG
- Eagers Automotive
- John Hughes
- Tony Lahood Motors
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Major Online Auto-Classifieds
- Drive
- Car Sales
- Cartopia
- Gumtree Cars
- Autotrader
- Cars Guide
- My Moto
- My Car Choice
- Car City
- Locanto
Major Auction Market Players
- Manheim
- Auto Auction Sydney
- Go Pickles
- Autorola
- Grays.com
- City Motor Auction
Major Online E-Commerce Platform
- Cars24
- Carma
Key Topics Covered in the Report:-
- Australia Automotive Market Overview
- Australia Used Car Market Overview
- Australia Used Car Auction Market
- Australia Used Car Finance Market
- Australia Online E-commerce Used Car Market
- Market Ecosystem
- Value chain Analysis
- Customer Buying Journey in Australia
- Decision Making Parameters for Customers
- Offline and Online Business Models
- Detailed Analysis on Australia Used Car Market (Market Size, 2021; Market Structure; Market Segmentations; Competition; Future Market Size, 2026; Future Trends and the Way Forward
- Snapshot on Online Used Car Platforms in Australia
- Snapshot of Used Car Auction House in Australia
- Snapshot of Finance Market in Australia
- Business Opportunity (Customer Profile Analysis)
- Recommendations (Sales and Marketing Strategies, Positioning Strategies, Business Framework)
For more information on the research report, refer to below link:-
Australia Used Car Market Outlook to 2026F
Related Reports:-
Egypt Used Car Market comprise of entities such as Organized OEM's, Multi-Brands and Online Classified platforms along with banking institutions providing used car financing services and has grown at a steady growth rate over the review period 2021-2026F. The growth is supported by increase in millennials population in the country and the emerging players entering into the market are focusing extensively on consumer experience and data. Growth is further supported by manufacturers' investments in expanding the network of used cars dealers, building the brand and enabling customers to choose this option.
Philippines Used Car market is in its growth phase, having registered a five-year CAGR of xx% (2016-2021) as the total value of sales increased from PHP xx Billion in 2016 to PHP xx Billion in 2021. The market size by volume increased from xx cars in 2016 to xx cars in 2021 while registering a five-year CAGR of xx% in the period. There are a number of growth drivers which has resulted in expansion of the market; these include a surge in the demand of private cars, increasing per capita income, convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space. Customers of the used cars can be divided according to their needs generally belonging to the working age group.
Vietnam's used car market experienced a slow down between 2015 and 2021 on the basis of gross transaction value. The decline in GTV as well as sales volume of used car industry is attributed to various government initiatives to support the growth of domestic automotive industry, and policies implemented such as reduction in import tax to 0% for cars imported from ASEAN region. Historically, motor bikes have always remained the top choice among the consumers due to high concentration of population belonging to rural regions having low purchasing power. However, due to rapid urbanization and fast growing middle class, the demand for new passenger cars has been growing significantly in recent times which in turn is contributing to the growth of automotive industry. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer's preference towards availing private transportation medium compared to public transportation. Leveraging the growing internet penetration rate, various online classified players launched their operation in Vietnam post 2013, such as Oto and Carmudi. The increasing preference of consumers towards availing digital medium for their purchases has enhanced the sales prospect via C2C channel through classified platforms.
South Korea Used Car market increased at a CAGR of 0.8% (by sales volume in units) during 2015-2021P. The market has reached its maturity phase. A combination of restrictions on public transport and a movement towards private travel has accelerated the sale of used cars. Moreover, the availability of various financing facilities offered through banks and NBFIs, high internet penetration and increased government spending have been instrumental factors in facilitating the growth of the South Korean used car market.
Singapore Used Car market is in its growth phase, increasing at a CAGR of -3.1% (by value in SGD Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in Singapore.
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