- Rising consumer preference for value-for-money mobility solutions, especially in price-sensitive markets, is driving used vehicle sales globally
- The growing adoption of certified pre-owned (CPO) programs by automakers is boosting customer trust and influencing buying behavior
- North America dominated the used vehicle market with the largest revenue share of 33.3% in 2024, driven by strong consumer demand for affordable mobility solutions, high vehicle ownership rates, and a mature resale ecosystem
- Asia-Pacific region is expected to witness the highest growth rate in the global used vehicle market, driven by increasing urbanization, affordability gaps between new and used vehicles, government efforts to formalize the used vehicle ecosystem, and rising internet penetration supporting digital sales platforms
- The 6 to 10 years segment dominated the market with the largest market revenue share of 45.6% in 2024, driven by the balance it offers between affordability and performance. Vehicles in this range typically undergo moderate depreciation, making them a cost-effective choice while still offering relatively modern features and acceptable mileage. Buyers also favor this category for the availability of models with sufficient service history and warranty extensions
