Used Car Market will Transform by 2022, with New Business Models, and Growing Peripheral Markets with Low Motorization Rate
The used car market in Latin America is expected to undergo significant changes over the next 5–7 years. Upcoming technologies and business models are likely to completely transform the way used cars are bought and sold. In 2016, 18.4 million units were sold. Unit sales are expected to reach 22.4 million by 2022, growing at a CAGR of 3.4%, although this market varies from one country in the region to another, depending on factors such as domestic economy, market informality, regulations on emission standards, as well as used car sales legislation and customer protection.
The market is experiencing a number of transformative shifts influenced by economic disruptions that affect new car sales, new regulations to formalize the used car market, new channel distribution, and technology innovations.
This research study focuses on used car sales segmented as follows: • Sales channels: Dealerships, individuals, online, and auction sales • Vehicle age • Powertrain: Gasoline, Diesel, Alternative fuels and Hybrids and Electric Vehicles • Market share by OEM and by most sold models • Ratio of new and used car sales • Value proposition by market participants
The market size for 2016 is provided for each segment and forecasted till 2022.
It also features the market shares of leading competitors, which include Volkswagen, Fiat, Toyota, Ford, Nissan, GM, Hyundai, Honda, Toyota, and Renault.
The study highlights industry challenges and growth drivers and restraints for the period 2016–2022, and analyzes the market from an end-user and geographic perspective. The research covers selected Latin American countries: Argentina, Brazil, Chile, Mexico, Colombia, and Peru. The study also presents key market trends, growth opportunities, OEM strategies to compete with independent dealerships, new business models being implemented, and macroeconomic implications for the market. It offers an analysis of current and future market trends affecting the region, including: new sales channels, new powertrain options, financing strategies and CPO programs offered by OEMs and independent and franchised dealerships, as well as market disruptors and companies to watch in the future. Finally the study provides conclusions, growth opportunities, and strategic recommendations.
Key Questions This Study Will Answer • What are the key trends and factors determining the demand for used cars in Latin America? • Could electric vehicles and hybrids become popular by 2022 as a mainstream alternative to gasoline vehicles? • How are automotive manufacturers promoting their used car business? How is the convergence with online used car aggregators promoting the used car business? • What are the key drivers and restraints within the used car market? • What is the growth potential of the market? How will the demand for used cars shape up until 2022?
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