United States Used Car Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

United States Used Car Market Growth

In Q3 of FY 2024-25, the average prices of used cars dropped by nearly 6.2% to USD 27,177 from USD 28,960 in Q3 of FY 2023-24. As per the United States used car market analysis, used vehicles under USD 10,000 constitute the fastest-selling vehicle category for first-time vehicle buyers, with the average days to turn recorded at 30-31 days. Vehicles valued between USD 15,000- 30,000 have accounted for over 50% of all second-hand automotive sales in the market, which signifies its emergence as a purchasing sweet spot for consumers. This is creating a favourable United States used car market outlook.

In Q3 of FY 2024-25, the price difference between old and new cars in the United States widened by over USD 20,000. This is expected to prompt price-conscious consumers to seek second-hand vehicles to meet their daily travel requirements.

The proliferation of digital retailing channels for second-hand automobiles is driving the United States used car market development. An increasing number of American consumers attach great importance to availing complete end-to-end purchasing support (59%), extensive vehicle information and effective search tools (64%), and unique delivery options (28%), which is expected to drive market growth over the forecast period.

Key Trends and Developments

United States Used Car Market Trends

Ford F-150 pick up trucks became the most popular used vehicle to be traded in the United States. This was followed by the Chevrolet Silverado, which accounted for 555,148 units of sales. The United States used car market value is increasing amid rising sales of Silverado 1500 in Iowa, which accounted for around 5.3% of the sales mix of 1- to 5-year-old vehicles. Around 193,000 units of Ram 1500 were also sold, indicating evolving consumer preferences.

United States Used Car Industry Segmentation

United States Used Car Market Share

Based on region, the market is segmented into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West. The Southeast is projected to dominate the market, representing 22% of the overall market share. As per the United States car market analysis, the region is expected to grow at a CAGR of 6.0% due to the increasing demand for electric vehicles and rapid improvements in customer service delivery.

Leading Companies in the United States Used Car Market

Major players are using AI tools to enhance the customer experience in brick-and-mortar stores, thereby increasing the United States used car market revenue.

Sonic Automotive

Sonic Automotive was founded in 1997 and is headquartered in North Carolina, United States. It is one of the largest powersports and automotive retailing companies in the USA.

Carvana Co.

Carvana Co. was established in 2012 and is based in Arizona, United States. It was awarded the #2 position as ...

Asbury Automotive Group

Asbury Automotive Group was founded in 1995 and is based in Georgia, United States. It is involved in offering...

AutoNation Inc.

AutoNation Inc. was formed in 1996 and is based in Florida, United States. It is involved in distributing seco...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the United States used car market report are Sullivan Motor Company Inc, CarBravo, CarMax Enterprise Services, LLC, Group 1 Automotive Inc., Hendrick Automotive Group, and Lithia Motors Inc., among others.