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Used Car Market to Transform by 2022 with Increased Online Sales and Pre-owned Leased Vehicle Sales
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The North American used car market is almost 2.5-times bigger than the new car market and that ratio is not going to reduce anytime soon. This study captures the growth of the used car market until 2022 and assesses the factors impacting this market such as pricing pressures from the increasing number of off-lease vehicles entering the used car market. Disruptive market participants in the retailing of used cars, original equipment manufacturers’ (OEMs') involvement in promoting used cars, and innovative purchase options are covered as part of this research. Analysis of alternate powertrain vehicles and their impact on the used car market is also covered as part of this research.
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