Online Car Dealers in the US - Industry Market Research Report

April 2021 •
38 pages •
Report ID: 5103667 •
Format: PDF

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Revving up: Increasing access to credit is anticipated to benefit industry demand

Abstract

Online Car Dealers
The Online Car Dealers industry retails automobiles to consumers and businesses and provides related services including auto loan financing and vehicle trade-in and car-selling services. Online-only dealers and brick-and-mortar dealers that offer online purchasing and online aid are also included in this industry. Improving economic conditions and higher car sales have resulted in overall positive growth since 2013. The industry has exhibited high revenue growth due to the growing popularity of online retailers and steady demand for high-priced vehicles. As consumer visits to traditional car dealers are declining, operators are moving online to reach the growing millennial population. Online dealers permit consumers to research their inventory, compare prices, estimate payments and apply for financing, all from the comfort of their home. Over the five years to 2023, industry growth is expected to continue increasing at a steady rate. Continued increases in disposable income and access to credit are anticipated to benefit industry demand. Moreover, more companies that provide direct online retailing are expected to enter the industry, making it easier for consumers to purchase a vehicle in the comfort of their own home, which will likely appeal to the millennial generation moving forward.

This industry retails automobiles online to consumers and businesses and provides services to aid in the purchase of automobiles. Automobiles include passenger cars, trucks and sports utility vehicles (SUVs). Some players offer their customers trade-in, car financing and car selling services. This industry does not include classified websites that feature reviews, guides, photos and advertisements of new and used vehicles for sale.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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