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Used Car Market in the US to Grow by USD 40.2 Billion by 2029, Boosted by Value for Money Proposition, AI Driving Market Transformation – Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report with the AI impact on market trends – The 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 experiencing significant trends shaping its future. Dealership networks and franchise dealers are expanding, with online sales becoming increasingly popular. Auto marketplaces are thriving, offering affordability and convenience to customers seeking personal mobility. Automobile manufacturers are entering the used vehicle business, providing certified pre-owned vehicles with extended service agreements and advanced features. Price sensitivity drives the market, with buyers opting for compact and mid-sized used passenger cars, SUVs, and even CNG-powered and hybrid vehicles. Digital retailing and AI applications are transforming the industry, enabling inventory pooling and sustainability. Electric and luxury vehicles are gaining traction, with OEMs focusing on emissions and environmental concerns, adhering to BS6 norms. Urbanization and the telecom industry’s growth fuel the demand for online transactions. Unorganized businesses face competition from organized channels, including rental car agencies, leasing offices, auctions, and private party sales. Flexible financing alternatives and no haggle prices attract buyers, while value-added services like warranties, maintenance plans, and extended service agreements enhance customer experience. The automotive industry trends towards digitalization, with tech-enabled options like automotive performance tracking, smartphone applications, and internet connectivity. High depreciation rates challenge the market, but flexible financing and off-lease vehicles offer opportunities. The future of used car ownership lies in digital retailing, AI applications, and sustainable practices. 

The Internet’s expansion in the US has led to the creation of an effective online marketplace for used cars. Numerous websites cater to this segment, enabling buyers to purchase second-hand vehicles through digital platforms. These sites broaden sellers’ reach to a large pool of potential buyers. Online used car sales websites provide additional services and special offers to attract customers. Websites serve as a significant communication channel for vehicle manufacturers to share updates on technology advancements, new car launches, awards, and other essential information. 

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Market Challenges

The used car market in the US faces several challenges. Dealership networks and franchise dealers compete with online sales through auto marketplaces and digital retailing. Affordability is a key factor for price-sensitive buyers, driving demand for used passenger cars. Automobile manufacturers focus on new vehicle business, but used vehicles remain crucial for personal mobility. Customer intelligence is essential for understanding trends, including the rise of electric, hybrid, and CNG-powered vehicles. Unorganized businesses pose competition, but certified pre-owned vehicles offer peace of mind. Depreciation and ownership duration impact resale value. Flexibility is crucial for buyers, with options like car subscription services and off-lease vehicles. Urbanization and the telecom industry fuel online transactions. Emissions and environmental concerns shape regulations like BS6 norms. SUVs, mid-sized, and compact cars dominate the market. Advanced vehicle features like power steering, climate control, and anti-lock brakes are in demand. Flexible financing alternatives and extended service agreements help manage costs. Pre-owned car dealers, rental car agencies, leasing offices, auctions, and private party sales offer various purchasing options. No haggle prices and certified pre-owned vehicles appeal to buyers. Online retailing, digitalization, and value-added services like financing, warranties, and maintenance plans are essential. Global technology standardization and tech-enabled options enhance the customer experience. Automotive performance tracking and smartphone applications offer convenience. High depreciation rates require flexible financing alternatives. Sustainability and emissions concerns shape the future of the industry.The Environmental Protection Agency (EPA) in the US has implemented stricter emission norms for passenger cars and commercial vehicles due to increasing air pollution concerns. These new regulations will significantly impact the used car market as many older vehicles may become non-compliant. In 2017, over half of the US population resided in areas with substandard air quality, leading to health concerns from vehicular emissions. Older cars, particularly pickup trucks, contribute significantly to these emissions, which contain harmful gases that negatively affect individual health.

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Segment Overview 

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

Distribution Channel3P Channel SalesOEM Channel SalesProductMid SizeFull SizeCompact SizeGeographyNorth AmericaVendor TypeOrganizedUnorganizedFuel TypeDieselPetrol

1.1 3P channel sales-  The used car market in the US is a significant sector, driven by the high competition in the new car market. With numerous new vehicle models launched annually, a consistent supply of used cars enters the market. Used car prices are notably lower than new cars, encouraging consumers to sell their current vehicles and upgrade to newer models. The average ownership cycle is anticipated to decrease due to the increasing number of new car launches. Trade-in is a popular financing method for third-party channel sales in the US, allowing buyers tax reductions and a streamlined purchasing process. Third-party dealers, with their offline stores, offer convenience and eliminate documentation hassles. Their diverse product portfolio and customized warranties provide buyers with greater choice and peace of mind. These factors will fuel the growth of the used car market in the US.

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Research Analysis

The used car market in the US is a significant sector of the automobile industry, offering affordable personal mobility solutions to consumers. With the rise of online sales, auto marketplaces have become a popular destination for buyers seeking used passenger cars, off-lease vehicles, and even luxury models. Urbanization and the telecom industry’s advancements have enabled seamless online retailing, making the used car market more accessible than ever. Used car dealership networks, rental car agencies, leasing offices, auctions, and private party sales all contribute to this dynamic market. Depreciation plays a crucial role in the used car market, affecting resale value and ownership duration. Certified pre-owned vehicles and extended service agreements offer peace of mind to buyers, while car subscription services provide a flexible alternative to traditional ownership. The affordability and convenience of used cars make them an attractive option for many consumers, especially as automobile manufacturers focus on their new vehicle business. Regardless of the sales channel, the used car market continues to evolve, catering to the diverse needs of car owners and the ever-changing landscape of personal mobility.

Market Research Overview

The used car market in the US is a significant sector of the automotive industry, catering to the demand for personal mobility solutions that are more affordable than new vehicles. This market includes both organized and unorganized channels, with dealership networks, online sales, and auto marketplaces being the most common organized channels. The market offers a wide range of used passenger cars, including electric, hybrid, conventional, CNG-powered, diesel, SUVs, mid-sized, compact, and luxury vehicles. Customer intelligence plays a crucial role in this market, with price sensitivity being a key factor influencing buying decisions. Automotive industry trends, such as digital retailing, AI applications, inventory pooling, sustainability, and vehicle certification, are shaping the future of used car sales. 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. No haggle prices, certified pre-owned vehicles, extended service agreements, and advanced vehicle features are some of the value-added services that are becoming increasingly popular in this market. The used car market is influenced by various factors, including emissions, environmental concerns, BS6 norms, depreciation rates, and flexible financing alternatives. The market is also impacted by urbanization, the telecom industry, and the trends towards car subscription services and ownership duration. Overall, the used car market in the US is a dynamic and evolving sector that is being shaped by technological advancements, changing consumer preferences, and industry trends.

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 AmericaVendor TypeOrganizedUnorganizedFuel TypeDieselPetrol

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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SOURCE Technavio

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Technology

Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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23 minutes ago

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July 18, 2026

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/laifen-expands-us-retail-footprint-with-costco-launch-of-best-selling-se-hair-dryer-302828573.html

SOURCE Laifen

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Technology

Pillsbury Notice of Data Breach

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3 hours ago

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July 18, 2026

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html. 

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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4 hours ago

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July 18, 2026

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

View original content to download multimedia:https://www.prnewswire.com/news-releases/from-remote-racing-to-embodied-ai-fibocom-and-intedigo-bring-5g-bidirectional-data-transmission-into-real-world-applications-302828996.html

SOURCE Fibocom Wireless Inc.

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