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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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Canton Fair Buyers Alliance Launched as the 140th Edition Opens

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24 minutes ago

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October 18, 2026

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GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On October 15, the Canton Fair Buyers Alliance was officially launched at the Canton Fair Complex, marking a significant milestone as the fair celebrates the 70th anniversary of its founding.

More than 140 overseas buyers attended the launch ceremony, highlighting the fair’s enduring role as a bridge connecting global commerce with China’s export sector.

Speaking at the ceremony, Luís Vilariça, CEO of Joinco, Import & Export, Ltd., discussed his company’s long-standing relationship with the Canton Fair. Drawing on years of participation, he reflected on the growth opportunities created through cooperation with Chinese suppliers and highlighted the fair’s role in supporting international business development and global trade exchanges.

The ceremony also featured a joint declaration by alliance members. Representatives from five member companies read the statement in their respective native languages, underscoring the international character of the new organization. Additional members sent video congratulatory messages, joining the celebration and witnessing the official launch of the alliance.

The Canton Fair Buyers Alliance represents one of the fair’s key service innovations. Designed primarily for Fortune Global 500 companies, buyers from the world’s top 250 retailers and leading sourcing enterprises across a diverse range of markets, the alliance aims to offer members a platform for information sharing and resource coordination. The first cohort of alliance members includes 58 companies from 32 countries and regions across 5 continents. Through the alliance, members will gain access to a range of priority benefits spanning four major areas: services, events, resources and information.

 For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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SOURCE Canton Fair

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Bioethanol from human hair – Indian start-up’s solution to rising prices of grains and sugar

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1 hour ago

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October 18, 2026

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GUJARAT, India, Oct. 17, 2026 /PRNewswire/ — In what could be called the beginning of the 5G (fifth-generation) of bioethanol or non-cellulosic bioethanol or non-sugar-based biofuels, an Indian start-up, Techofest Global, based out of Gujarat, has developed its own, indigenous, and patented technology for the production of bioethanol from waste human hair. Such processes would significantly reduce the employment of sugars, grains, and agricultural residues, which form the classical first- and second-generation bioethanol feedstocks. As a result, the rising fuel-vs.-food/fodder debate is anticipated to reduce, and instead, ethanol produced from municipal/industrial waste, after trials, can supplement the current supply being used as blends with presently retailed fossil fuels (E20, E27, etc.). 

As stated by Dr. Ravi, the founder-CEO of Techofest Global, the strategic priority and the USP of the start-up is industrial symbiosis, which, typically, involves an ecosystem of up-cycling/valorising the effluents of an industry, thereby creating a value-chain for residues often lacking an end-of-life. With more than three decades of experience in designing customized nuclear fusion reactors for international programmes, such as ITER, JET/UKAEA and SST-1, Dr. Ravi, a seasoned mechanical engineer, spearheads the start-up’s patented technologies’ scale-up and commercialization.

Two biochemical engineers, Dr. Navnit – the former CTO, and Dr. Kabilan – the former CEO of Biomakerz, Chennai, are the brains behind the current technology/process portfolio of the joint-venture between Techofest Global and Biomakerz. They have been working on biorefineries’ process intensification for more than a decade. “Having foreseen the fuel-vs-fodder/food competition as early as the year 2015, we began developing techno-economically feasible and viable in-vitro metabolically-engineered bioprocesses for scaling-up ethanol production from municipal waste streams between 2019–2021”, says Navnit. After developing operational technologies for international biofuel organizations, serving process engineer roles with certain biorefineries-related OMC R&D’s of India, Dr. Navnit, presently works for a premier academic institution.

An on-going fermentation trial at the Techofest Global-Biomakerz JV’s R&D facility

Techofest Global has developed and tested, in its R&D JV’s pilot-facility of ~100-L, 3 innovative and cost-effective technologies, such as 5G ethanol production using human hair, used cooking oil (UCO), and enriched bio-methane production from disposed sanitary napkins.

“With massive CapEx and OpEx, 2G ethanol technology is facing a major commercialization bottleneck, owing to competition with food/livestock fodder, requirement of a cost-intensive pre-treatment procedure, and the requirement of cellulolytic cocktails, which have a poor recycle efficiency. The proprietary 5G SAFE process developed for the start-up circumvents the mentioned constraints, and instead, utilizes a single-stage saccharification followed by fermentation, and records over 85–90% biocatalyst recovery. Likewise, the proprietary SIM process for bio-methane production, exclusively developed for the start-up, is 2x faster with improved intermittent feeding cycles and continuous gas harvest”, says Navnit.

“With on-going pre-commercialization trials, the proprietary ethanol and bio-methane processes of ours are soon being commercialized”, says Ms. Bhumika, the co-founder and the corporate advisor of the start-up. Furthermore, Mr. Ronak pilots the organization’s global market entry and commercialization frontier.

Techofest Global’s veteran Principal Technology Advisors include: Dr VS Tripathi, former Joint Director, DRDE Gwalior, Dr B S Munjal, former Director, Structures and Thermal group, SAC/ISRO, Academician and Advisor CIKS-Dharohar, GTU, and Dr AV Santhanababu, former Scientist at Satish Dhawan Space Centre. With on-going R&D activities, Dr. Munjal says, “the start-up is striving to provide a unique solution along the lines of the Atmanirbhar and Viksit Bharat Vision 2047”.

Media Contact: www.techofestglobal.com; e-mail: info@techofestglobal.com; contact person: The PR team of Techofest Global.

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As AI Speeds Up Marketing, Louisville’s RedTag Bets on Strategy

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6 hours ago

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October 17, 2026

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Independent agency unveils new brand and website, and co-hosts Louisville’s PROOF AI Workshop

LOUISVILLE, Ky., Oct. 17, 2026 /PRNewswire/ — RedTag, an independent Louisville-based marketing agency, this month unveiled new positioning, marking its evolution from a digital performance agency into a strategy-first marketing partner. The move comes as AI makes execution faster than ever, and RedTag is betting that strategy, not speed, is what will set businesses apart. Clients can now choose from outcome-based programs that best fit their marketing needs. 

“Clients don’t come to us needing more tactics. They come to us needing a path,” said Russ Renbarger, founder and CEO of RedTag. “Our new brand says out loud what our work has shown for years: We start with strategy and build everything on that foundation.”

RedTag built its reputation on high-performing paid digital campaigns. Over the years, the agency expanded into strategy, creative, video production and website development, giving clients one partner for the full scope of their marketing. Most recently, a team of automation specialists has integrated AI across the agency to speed up production and analysis, guided by an internal AI policy that keeps people accountable for quality. The time AI saves goes back into strategy: knowing what to say, who to say it to and why.

“Our best client relationships have always been partnerships, where we’re in the room when the big decisions get made,” said Alison Conway, chief client officer at RedTag. “This evolution is about bringing that strategic partnership to every client.”

On Oct. 14, RedTag co-hosted the PROOF AI Workshop with Slingshot, Vsimple and Advanced Business Solutions. The hands-on event gave Louisville business leaders practical experience applying AI to their own work. RedTag led the event’s AI in Marketing and Branding track, with four sessions ranging from AI search optimization to a playbook for adopting AI across an organization.

“AI can produce hundreds of ads in an afternoon, but it can’t tell you which one your brand actually needs and why,” Renbarger said. “The faster the tools get, the more valuable human-led strategy becomes.”

RedTag was named the agency of record for the Commonwealth of Kentucky in 2025. Its client list includes PGA of America, Castle & Key Distillery, Bourbon Barrel Foods, ShopCaterpillar and American Beverage Marketers. Since 2023, RedTag’s work has received two Emmy Awards and more than 35 ADDY and AIGA awards. The agency is a four-time Louisville Business First Fast 50 honoree and was named one of the 2026 Best Places to Work in Kentucky.

To learn more about its outcome-based programs, visit RedTag Programs

About RedTag

RedTag is an independent, strategy-first marketing agency based in Louisville, Kentucky. Established in 2008, the agency starts every engagement by understanding the goal before recommending tactics. With a foundation rooted in discovery, RedTag delivers full-scale marketing campaigns built around each client’s business goals. RedTag serves organizations across hospitality, sports, agriculture, government, retail and consumer packaged goods. Learn more at redtag.agency.

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SOURCE RED TAG LLC

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