Lewes, DE -- (SBWIRE) -- 05/15/2015 -- Report forecast the used car market in the US to grow at a CAGR of 6.95 percent, in terms of revenue, during the period 2014-2019.

Used cars are increasingly becoming an alternative for new vehicles due to increase in consumer interest and popularity of certified programs. The used car market in the US comprises micro cars, economy cars, luxury cars, specialty cars, minivans, SUVs, pickup trucks, and commercial vans. The vendors in the used car market offer a range of automotive products and services, such as new and used vehicles, automotive finance, repair services, and insurance.

The market is expected to witness a growth in the volume of off-lease vehicles as a large number of these vehicles will be back in the market in 2014.

This report covers the present scenario and the growth prospects of the used car market in the US for the period 2015-2019. To calculate the market size, it considers the average price of used cars in the US. The report considers the market size in terms of both revenue and units, but only for passenger vehicles.

It discusses the major drivers that influence the growth of the market and outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.

The key customers in the market are the end users.

According to the report, the used car market in the US is expected to grow because more vehicles are coming off-lease and there is an increasing supply of used cars (including those in CPO programs). The adoption of lease hire and buy here financing options will also help used car dealers stay competitive and increase their profitability.

Further, the report states that the used car shortage is declining because a large volume of off-lease vehicles are being introduced into the used car market in the US. In the US, only about 20% of the used cars available in the current trade market were found to be in good condition. This is a growing concern for consumers because most cars available in the current trade market are not of good quality.

The report presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the market. The report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

key players in the used car market in the US: AutoNation Inc., CarMax Inc., Penske Automotive Group Inc. and Sonic Automotive Inc.

Other Prominent Vendors in the market are: Asbury Automotive Group, Auction Direct USA, Germain Motor Company and Group 1 Automotive, AutoTrader.com, Cars.com, Cars Direct, OOYYO, Carsforsale.com and Vast.com

Market Driver
- Growing demand for CPO cars
- For a full, detailed list, view our report

Market Challenge
- Demand-based inventory management
- For a full, detailed list, view our report

Market Trend
- Increase in online retail channels and classifieds
- For a full, detailed list, view our report

Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 69 pages and 28 Exhibits "Used Car Market in the US 2015-2019" report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation, Buying Criteria, Market Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.

For further information on this report, please visit- http://www.marketresearchreports.com/technavio/used-car-market-us-2015-2019

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