Australia Used Car Market Introduction and Overview
According to SPER Market Research, the Australia Used Car Market is estimated to reach USD 77.94 billion by 2033 with a CAGR of 6.35%.
The report includes an in-depth analysis of the Australia Used Car Market, including market size and trends, product mix, Applications, and supplier analysis. A used car is a previously owned vehicle that is re-saleable. Franchise and independent vehicle dealers, rental car companies, auctions, private party sales, and leasing offices are just a few of the outlets used to sell used cars. Millennials have a lower rate of personal car ownership due to the high cost of vehicles and maintenance of personal cars. Additionally, millennials usually prefer used automobiles for vacation because they have a tendency to be budget-conscious. Additionally, the high price of new cars discourages many consumers from buying them, increasing the market for used cars. This makes it possible for various investments by market participants to establish their dealership network.
- September 2021: Australians will be able to purchase used vehicles online and have them delivered to their door thanks to CARS24, an Indian startup that recently began operating in Australia.
- May 2022: The digitally used vehicle platform Carma announced the closing of a new AUD 75 million Series A fundraising round led by General Catalyst Partners and Tiger Global in May 2022, following a AUD 28 million seed investment in 2021. Capitalising on the country's current demand for used automobiles, Sydney-based Carma will utilise the investment to open offices in Melbourne and Brisbane and so increase its presence along Australia's eastern shore.
Market Opportunities and Challenges
Opportunities: Since used vehicles in that market sector provide a desirable and affordable choice, most consumers prefer used vehicles with an average age and more kilometres driven in the long run, with SUVs being the most popular vehicle type. In order to improve the experience of used car buyers, auto dealers emphasise the value of integrated user-friendly platforms. The used car market is benefiting from these developments and changes, and future growth is anticipated due to the opportunities created by these factors.
Challenges: Due to the dependence of the used car market on replacement customers, car owners selling their vehicles, and used car imports, there is a lot of uncertainty around the availability of supplies to satisfy market demand. These worries are therefore expected to limit the expansion of the used car market in the upcoming years.
Market Competitive Landscape
Global partnerships, mergers, and collaborations in the automotive industry are becoming more common. Many domestic and foreign competitors are working to secure a sizeable market share in order to stay up with the expanding market. The major players in the market include: BMW Premium Certified, Brighton Suzuki Brighton, Cars24, Carsales.com Limited, Carsguide Autotrader Media Solutions Pty Ltd., Cartopia Pty Ltd, Drive (Nine Entertainment Co. Pty Limited), Gumtree AU Pty Limited, HELLOCARS SUBSCRIPTION PTY LTD., Toyota Certified Pre-Owned Vehicle, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vendor Type, By Fuel Type, By Body Type, By Sales Channel
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| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region
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| Companies Covered | BMW Premium Certified, Brighton Suzuki Brighton, Cars24, Carsales.com Limited, Carsguide Autotrader Media Solutions Pty Ltd., Cartopia Pty Ltd, Drive (Nine Entertainment Co. Pty Limited), Gumtree AU Pty Limited, HELLOCARS SUBSCRIPTION PTY LTD., Toyota Certified Pre-Owned Vehicle, Others
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COVID-19 Impact on Australia Used Car Market
The automotive industry has been severely disrupted by the COVID-19 pandemic epidemic. Customers are more likely to use private transport during the pandemic. However, due to disparities in income, buying a new car is expected to be difficult, and commuters are likely to choose second hand vehicles instead. Additionally, new vehicles are bought by virtual reality, online, or digitally generated sales leads during this pandemic period.
Key Target Audience:
- Budget-Conscious Consumers
- First time Car Buyers
- Middle Class People
- Young Professionals & Students
- Others
Our in-depth analysis of the Australia Used Car Market includes the following segments:
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By Vendor Type:
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Organized
Unorganized
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By Fuel Type:
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Diesel
Electric
Petrol
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By Body Type:
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Hatchback
Multi-Purpose Vehicle
Sedan
Sport Utility Vehicle
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By Sales Channel:
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Offline
Online
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Key Topics Covered in the Report:
- Australia Used Car Market Size (FY’2023-FY’2033)
- Overview of Australia Used Car Market
- Segmentation of Australia Used Car Market By Vendor Type (Organized, Un-organized)
- Segmentation of Australia Used Car Market By Fuel Type (Diesel, Electric, Petrol, Others)
- Segmentation of Australia Used Car Market By Body Type (Hatchback, Multi-Purpose Vehicle, Sedan, Sport Utility Vehicle)
- Segmentation of Australia Used Car Market By Sales Channel (Offline, Online)
- Statistical Snap of Australia Used Car Market
- Expansion Analysis of Australia Used Car Market
- Problems and Obstacles in Australia Used Car Market
- Competitive Landscape in the Australia Used Car Market
- Impact of COVID-19 and Demonetization on Australia Used Car Market
- Details on Current Investment in Australia Used Car Market
- Competitive Analysis of Australia Used Car Market
- Prominent Players in the Australia Used Car Market
- SWOT Analysis of Australia Used Car Market
- Australia Used Car Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst