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Used Car Market in the US to Grow by USD 40.2 Billion (2025-2029), Value-for-Money Appeal Drives Growth, Report on AI-Powered Market Evolution – Technavio

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NEW YORK, Jan. 27, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global used car market in us size is estimated to grow by USD 40.2 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  4.3%  during the forecast period. Excellent value for money proposition of used cars is driving market growth, with a trend towards increased penetration of websites dedicated to selling used cars. However, stringent emission regulations to restrict sales of non-compliant used cars  poses a challenge. Key market players include Asbury Automotive Group Inc., AutoNation Inc., CarMax Inc., Carvana Co., General Motors Co., Group 1 Automotive Inc., Hendrick Automotive Group, Hertz Holdings Inc., Lithia Motors Inc., Penske Automotive Group Inc., Sonic Automotive Inc., and Vroom Inc..

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Used Car Market In US Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2022

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 4.3%

Market growth 2025-2029

USD 40.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.1

Regional analysis

US

Performing market contribution

North America at 100%

Key countries

US

Key companies profiled

Asbury Automotive Group Inc., AutoNation Inc., CarMax Inc., Carvana Co., General Motors Co., Group 1 Automotive Inc., Hendrick Automotive Group, Hertz Global Holdings Inc., Lithia Motors Inc., Penske Automotive Group Inc., Sonic Automotive Inc., and Vroom Inc.

Market Driver

The used car market in the US is witnessing significant trends shaped by dealership networks, online sales, and auto marketplaces. Affordability is a key driver as price-sensitive buyers seek personal mobility solutions. Automobile manufacturers are expanding their new vehicle business into used passenger cars through franchise dealers, both organized and unorganized. Electric, hybrid, conventional, CNG-powered, and diesel vehicles, along with SUVs, mid-sized, and compact-size models, are in demand. Digital retailing, AI applications, inventory pooling, and sustainability are shaping the industry. Vehicle certification, emissions, and environmental concerns influence consumer decisions. Off-lease vehicles, car subscription services, and depreciation impact resale value and ownership duration. Luxury vehicle manufacturers are entering the pre-owned car market. Online retailing, urbanization, and the telecom industry are driving digital transactions. Flexible financing alternatives, extended service agreements, and advanced vehicle features offer value-added services. Flexibility, global technology standardization, and tech-enabled options are essential for dealerships, rental car agencies, leasing offices, auctions, private party sales, and no-haggle prices. Certified pre-owned vehicles and extended service agreements ensure customer confidence. The automotive industry trends include advanced vehicle features like power steering, climate control, and anti-lock brakes. BS6 norms and emissions regulations impact the used car market. Unorganized businesses face challenges due to lack of transparency and trust. OEMs, SUVs, and offline dealerships are adopting digitalization for growth. Financing, warranties, and maintenance plans are essential considerations for used car buyers. 

The Internet’s expansion in the US has led to a thriving online marketplace for used cars. Numerous websites cater to this sector, enabling buyers to purchase vehicles online. These platforms provide sellers with a broader reach to potential buyers. Notably, online used car sales websites offer additional services and promotions to attract customers. Websites serve as a significant communication channel for vehicle manufacturers to share updates on vehicle technology, new car releases, awards, and other essential information. 

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Market Challenges

The used car market in the US is a significant segment of the automotive industry, with challenges ranging from dealership networks to online sales. Organized, franchised dealers face competition from unorganized, independent sellers. Affordability is a key factor for price-sensitive buyers, driving the demand for used passenger cars. Automobile manufacturers are expanding their new vehicle business with certified pre-owned vehicles and car subscription services. Online sales through auto marketplaces and digital retailing are growing, with AI applications and inventory pooling enhancing the customer experience. Sustainability is a trend, with electric, hybrid, and CNG-powered vehicles gaining popularity. Vehicle certification, resale value, and ownership duration are crucial considerations for buyers. Depreciation, flexibility, and value-added services like financing, warranties, and maintenance plans are essential for used car owners. Urbanization and the telecom industry’s growth are fueling online transactions. Luxury car manufacturers are entering the pre-owned car market. Emissions and environmental concerns are shaping regulations like BS6 norms. Flexible financing alternatives, advanced vehicle features, and tech-enabled options are driving demand. The used car market’s future lies in digitalization, transparency, and customer intelligence.The Environmental Protection Agency (EPA) in the US is implementing stricter emission norms for passenger cars and commercial vehicles due to rising air pollution concerns. These new regulations may impact the used car market, as many older vehicles will become non-compliant. In 2017, over half of Americans resided in areas with air quality levels surpassing federal standards. Reusing older cars, particularly pickup trucks, contributes significantly to vehicular emissions, which are detrimental to health due to the presence of harmful gases.

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Segment Overview 

This used car market in US report extensively covers market segmentation by  

Distribution Channel1.1 3P channel sales1.2 OEM channel salesProduct 2.1 Mid size2.2 Full size2.3 Compact sizeGeography 3.1 North America

1.1 3P channel sales-  The used car market in the US is a dynamic and competitive industry, driven by the annual introduction of new vehicle models. This trend results in a consistent influx of used cars into the market. Used cars are significantly more affordable than new ones, making them an attractive option for many consumers. As new car buyers upgrade to advanced models, they sell their previous vehicles, contributing to the used car supply. The average car ownership cycle is expected to decrease due to the increasing number of new car launches. This trend benefits used car buyers, as they can purchase vehicles that have been less used during the previous ownership cycle. Trade-in is a popular financing method for third-party channel sales in the US. It offers tax reductions and convenience for buyers, as they can complete the entire buying process at a single location. Third-party dealers are widely preferred due to their extensive product portfolio and the convenience they offer. They provide customized warranties and warranty services at any service branch in the region. Unlike OEM channels, third-party dealers offer a wider range of brands and choices to buyers. These factors will significantly influence the used car market in the US during the forecast period.

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Research Analysis

The used car market in the US is a significant sector of the automobile industry, catering to the demand for personal mobility at affordable prices. The market is served by a vast dealership network, which includes both independent and franchised dealers, as well as online sales platforms and auto marketplaces. Used passenger cars, off-lease vehicles, and certified pre-owned vehicles are popular choices for buyers seeking value and reliability. The market is influenced by various factors, such as depreciation, luxury vehicles, and resale value, which can impact ownership duration and the overall business model. Online retailing, urbanization, and the telecom industry have also disrupted traditional sales channels, leading to no haggle prices and new business models like car subscription services. Extended service agreements provide additional peace of mind for used car owners, while auctions, rental car agencies, leasing offices, and private party sales offer diverse options for buyers.

Market Research Overview

The used car market in the US is a significant sector of the automotive industry, catering to price-sensitive buyers looking for affordable personal mobility solutions. This market encompasses various channels, including dealership networks, online sales, and auto marketplaces. Used passenger cars, SUVs, mid-sized, compact, CNG-powered, diesel, hybrid, electric vehicles, and luxury cars are all part of the inventory pool. Customer intelligence plays a crucial role in this market, with trends such as digital retailing, AI applications, and inventory pooling shaping the industry. Sustainability and emissions are growing concerns, with BS6 norms and environmental regulations influencing the market. Used car owners can sell their vehicles through various channels, including online transactions, offline dealerships, rental car agencies, leasing offices, auctions, and private party sales. Flexible financing alternatives, extended service agreements, and advanced vehicle features add value to pre-owned cars. The used car market is influenced by various factors, including automobile manufacturers, franchise and organized dealers, unorganized businesses, OEMs, and urbanization. The telecom industry also plays a role, with tech-enabled options and smartphone applications transforming the buying and selling experience. High depreciation rates and flexibility are key challenges in the used car market, with value-added services, financing, warranties, and maintenance plans helping to mitigate these issues. The market is also influenced by global technology standardization, advanced automotive performance tracking, and the emergence of car subscription services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution Channel3P Channel SalesOEM Channel SalesProductMid SizeFull SizeCompact SizeGeographyNorth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Greater San Diego Science and Engineering Fair Students Win Big at the 75th California Science and Engineering Fair

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SAN DIEGO, April 26, 2026 /PRNewswire/ — The 75th California Science and Engineering Fair (CSEF) took place April 11–12 at California Lutheran University in Thousand Oaks, bringing together 900 of the best of 1st place winners from regional competitions covering 58 counties across the state, including the Greater San Diego Science and Engineering Fair (GSDSEF). GSDSEF students earned 40 awards at the event, including two of only six highly coveted spots to the prestigious Regeneron International Science and Engineering Fair (ISEF). Seven students earned 1st Place awards in the categories of Biochemistry and Molecular Biology, Chemistry, Cognitive Science, Microbiology, Physics and Astronomy, and Zoology. In addition, one student won the Saban Family Foundation Scholar Prize, while another won the South Coast AQMD Air Quality Award and A&WMA Environmental Leadership Award. CSEF is the oldest science fair west of the Mississippi River and the highest level competition in the state.

Top winners were:

Arya Bhatt, Grade 7, Oak Valley Middle School, South Coast AQMD Air Quality Award, A&WMA Environmental Leadership Award, “Context Aware Real Time Air Quality Prediction Using Machine Learning”.

Joie Green, Grade 8, Muirlands Middle School, 1st Place, “Soon I will be Invisible: How to Direct Energy with Topological Metamaterials”.

Maggie Hao, Grade 10, The Bishop’s School, 1st Place, “Harnessing Tardigrade Genes to Enhance Bacterial Biosensors for Heavy Metal Pollutant Detection”.

Uma Kattamuri, Grade 7, Oak Valley Middle School, 1st Place, “Elevated CO2 During Kalanchoe pinnata Growth Reveals Enhanced Antiproliferative and Synergistic Therapies”.

Sonika Dhenuva Konda, Grade 11, Del Norte High School, Saban Family Foundation Scholar Prize, “Adaptive Swarm Coordination for Wildfire Control via Q-Learning Tuned PSO with Quantum-Inspired Coupling”.

Emma Liu, Grade 11, The Bishop’s School, ISEF Finalist, 1st Place, “Defining 3D Phenotypic Cell States of Polymorphonuclear Neutrophils via Novel Computational Pipeline”.

Sharvi Mahajan, Grade 8, Bernardo Heights Middle School, 1st Place, “Evaluating Predictive EEG Theta/Beta Features in Adult ADHD via Machine Learning”.

Sydney O’Donnell, Grade 8, The Rhoades School, 1st Place, TFJIC, “Effects of Marigold Versus Chlorella Supplementation on Yolk Lutein Content”.

Ihan Sung, Grade 11, Eastlake High School, ISEF Finalist, 1st Place, “Renewable Ammonia Electrochemical Synthesis by Glow Discharge with an Iron Based Catalyst”.

Full results and project showcase available online.

About the GSDSEF

Since 1955, the Greater San Diego Science and Engineering Fair (GSDSEF) has provided an inspiring experience in science and engineering for tens of thousands of San Diego and Imperial County students, motivating them to pursue careers in science, technology, engineering, and mathematics. This regional competition challenges students to go beyond classroom studies to do independent research – to ask compelling questions, to design and implement innovative solutions, and to present and defend results to judges who are professionals in their fields. The GSDSEF brings together 800 of the best middle and high school students, 400+ judges who are professionals in their fields and over 60 professional societies and organizations, with $40k in prizes awarded.

The GSDSEF fosters creativity and innovation through inquiry, celebrates students’ STEM achievements, and showcases how young minds can make an impact in the present and future. Many of these student scientists are conducting world-class research and conducting groundbreaking experiments in fields ranging from Astronomy to Zoology, such as the discovery of cures for diseases, formulations of new vaccines, cancer research, applying AI to enhance medical diagnoses, using biomimicry for water conservation, novel drone technology, advances in micro robotics and autonomous driving technology. The GSDSEF is the highest-level STEM competition in the region and one of the oldest, most respected and competitive in the world. The GSDSEF is a 501(c)(3) organization. Learn more at gsdsef.org and follow us on LinkedIn and Instagram.

Copyright © 2026 Greater San Diego Science and Engineering Fair. All rights reserved.

Media Contact:
Sany Zakharia
sany.zakharia@gsdsef.org

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Innowise Named to 2026 CRN Tech Elite 250 List By The Channel Company

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WARSAW, Poland, April 26, 2026 /PRNewswire-PRWeb/ — Innowise has officially secured a position on CRN’s 2026 Tech Elite 250. This annual ranking identifies IT solution providers across the US and Canada that have achieved top-tier status within the partner programs of the industry’s leading technology vendors. The inclusion follows a period of verified growth in technical proficiency and a focus on high-impact engineering.

“Innowise concentrates on creating scalable, resilient architectures that produce measurable benefits for our clients. The honor of being recognized by CRN highlights the commitment of our experts to maintain high standards in highly competitive markets,” said Dmitry Nazarevich, CTO at Innowise.

About the Tech Elite 250

The Tech Elite 250 is a directory of companies recognized as having the highest level of partnership and certifications within the global IT ecosystem. In order to reach the final list, the provider must hold the most advanced technical credentials from vendors like AWS, Cisco, Dell, HPE, IBM, Intel, Nutanix, and Nvidia.

This directory serves as a verified ledger for enterprise clients who need to orchestrate complex hardware and software stacks without letting legacy environments rot. Holding these certifications is mandatory to stop the cash bleed caused by inefficient infrastructure and unoptimized cloud usage.

About Innowise

Founded in 2007, Innowise is a global software engineering and IT consulting center. The company is focused on developing high-value technologies, including artificial intelligence, data engineering, and cloud computing. Innowise crafts technological solutions for companies across 40+ domains in order to assist them in updating, creating, and modernizing their digital ecosystems.

Innowise specializes in using established technologies and modular approaches to enable organizations to expand or shift their operations while retaining complete control over all their physical and intangible assets.

Media Contact

Lizaveta Piaskova, Innowise, 48 48 787 027 706, lizaveta.piaskova@innowise.com, innowise.com

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Neusoft Showcases Full-Stack & Global Innovations at Auto China 2026

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BEIJING, April 26, 2026 /PRNewswire/ — At Auto China 2026, Neusoft Corporation hosted a press conference on April 25th and announced three key strategic moves: the iteration of Neusoft OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0, the launch of Neusoft NAGIC.AI Cockpit Software Platform, and the strategic upgrade of its subsidiary, Neusoft Smart Go. By leveraging full-stack technology and a global ecosystem to drive innovation and empowerment, Neusoft is transforming vehicles into proactive, connected and collaborative mobile intelligent spaces.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

 

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