Used Car Market Share

Market Share of Used Car Industry

The used car market is dominated by several key players, namely True Value, Hertz Corporation, Pendragon PLC, and many others. The growing organized and semi-organized sector is expected to bring in more revenue for the leading organized players toward the latter half of the forecast period, thus, moving the market ever slightly toward a consolidated one. For instance,

• In June 2022, TrueCar Inc. acquired Digital Motors. This acquisition is intended to accelerate TrueCar's plan to deliver a robust digital car buying and selling experience with its TrueCar+ marketplace.
• In May 2022, GoTo-backed Bank Jago announced its partnership with the used car marketplace Carsome Indonesia for its automotive financing initiative.
• In January 2022, Cazoo, one of Europe's leading online car retailers, acquired Italian online used car retailer and subscription platform Brum Brum for EUR 800 million (USD 828.80 million). Through this acquisition, Cazoo will launch its service across Italy.
• In November 2021, Carvago expanded its facility across Italy. The company offers 700 used cars to customers across the country.

Used Car Market Leaders

1. Penske Cars

2. Pendragon PLC

3. The Hertz Corporation

4. Emil Frey AG

5. Maruti Suzuki True Value

*Disclaimer: Major Players sorted in no particular order