Latin America Used Car Market (2024-2030) | Analysis, Industry, Forecast, Growth, Value, Outlook, Trends, Companies, Revenue, Size & Share
Market Forecast by Countries (Brazil, Mexico, Argentina, Rest of Latin America), By Vehicle Type (Hatchbacks, Sedan, Sports Utility Vehicle, Others), By Vendor (Organized, Unorganized), By Fuel Type (Gasoline, Diesel, Alternative Fuel Vehicles) And Competitive Landscape
| Product Code: ETC058904 | Publication Date: May 2021 | Updated Date: Sep 2024 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Latin America Used Car Market Highlights
| Report Name | Latin America Used Car Market |
| Forecast Period | 2024-2030 |
| Market Size | USD 175.2 billion |
| CAGR | 8.5% |
| Growing Sector | Fuel vehicles |
Topics Covered in the Latin America Used Car Market Report
The Latin America Used Car Market report thoroughly covers the market by countries, vehicle type, vendor and fuel type. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.Β
Latin America Used Car Market Size & AnalysisΒ
The Latin America used car market is projected to reach a value of USD 175.2 billion, growing at a CAGR of 8.5% during the forecast period (2024-2030). In terms of volume, the market is expected to reach approximately 9.5 million units by 2030. This growth can be attributed to factors such as increasing demand for affordable vehicles and easier access to financing options in the region.
Latin America Used Car Market Synopsis
The Latin America Used Car Market is expected to experience steady growth during the forecast period. This can be attributed to various factors such as economic stability, increasing disposable income, and changing consumer preferences towards more affordable transportation options.
According to 6Wresearch, Latin America Used Car Market size is expected to grow at a CAGR 8.5% during 2024-2030. One of the main drivers of growth in the Latin America used car market is the increasing demand for affordable vehicles among consumers. As the region's middle class continues to expand, more individuals are looking for cost-effective alternatives to new cars, making used cars a popular choice. Additionally, with advancements in technology and manufacturing processes, used cars are now considered more reliable and can offer similar features and performance as new cars at a lower price point. Moreover, the availability of financing options has made it easier for consumers to purchase used cars, further driving market growth, further stimulating Latin America Used Car Market growth.
Despite its potential for growth, the Latin America used car market also faces certain challenges that could hinder its progress. One major challenge is the lack of a well-established regulatory framework and standardization in the used car industry. This can lead to issues such as fraud, unreliable vehicle histories, and varying quality of vehicles being sold. Another challenge is the high rate of depreciation for used cars, which can make it difficult for dealers to maintain profit margins. Additionally, cultural factors such as a preference for new cars and a stigma around purchasing used cars may also pose challenges for market growth.
Latin America Used Car Market Trends
One major trend is the increasing popularity of online platforms for buying and selling used cars. With the rise of e-commerce, consumers are now turning to online channels to purchase their vehicles, citing convenience and a wider selection of options as key reasons for their preference. Another trend is the growing demand for electric and hybrid used cars as environmentally-conscious consumers look for more sustainable transportation options. This presents opportunities for manufacturers to offer more eco-friendly models in their used car inventory.
Investment Opportunities In the Latin America Used Car Market
One potential opportunity is in the development of online platforms for buying and selling used cars. With the increasing demand for convenience and efficiency, investing in online channels could prove to be a lucrative venture. Additionally, as governments implement initiatives to promote the sale of electric and hybrid vehicles, there may be potential for investment in developing CPO programs specifically for these types of vehicles.
Leading Players of the Latin America Used Car Market
Some of the key players in the Latin America used car market include major automobile manufacturers such as GM Motors, Toyota Motors, Ford Motors, and Volkswagen AG. These companies have expanded their operations in the region and are actively involved in both selling and financing used cars. Other important players in the market include used car dealerships such as Autoplaza, CarMax, and Grupo Automex.
Government Regulations Introduced in the Latin America Used Car Market
Governments in Latin America are also taking steps to promote the growth of the used car market through various initiatives. For example, Brazil has implemented a "Cash for Clunkers" program which offers incentives for consumers who trade-in their old vehicles for newer, more fuel-efficient models. This not only encourages vehicle owners to upgrade to newer cars but also helps reduce pollution levels in the country. Similarly, Argentina has also implemented a program that provides tax exemptions for the sale and purchase of used cars, making it more affordable for consumers. Such initiatives are expected to drive market growth in the coming years.
Future Insights of the Latin America Used Car Market
With increasing demand for affordable vehicles, expanding financing options, and government initiatives to promote sales, the market is expected to continue its upward trend. However, as technology continues to advance and consumer preferences evolve, it will be important for key players in the market to adapt and innovate in order to stay competitive. Additionally , addressing challenges such as regulatory issues and cultural perceptions towards used cars will also be crucial for sustained market growth.
Market Segmentation Analysis
The report offers a comprehensive study of the subsequent market segments and their leading categories.
Brazil to Dominate the Market - By Countries
According to Ravi Bhandari, Research Head, 6wresearch, Brazil is expected to be the leading segment in terms of demand for used cars in Latin America. This growth can be attributed to factors such as increasing disposable income, government initiatives promoting sales, and easier access to financing options in the country.
Sedans to Dominate the Market - By Vehicle Type
Sedans are expected to be the leading segment in terms of demand for used cars in Latin America, with a projected CAGR of 8.7% from 2024-2030. This can be attributed to their popularity and practicality as a family car, making them a popular choice among consumers.
Organized to Dominate the Market - By Vendor
Organized vendors is expected to dominate in Latin America with a projected CAGR of 8.6% from 2024-2030. This can be attributed to the increasing popularity of online platforms and dealerships that offer certified pre-owned (CPO) options, providing consumers with more trust and assurance when purchasing a used car.
Gasoline-powered Used Cars to Dominate the Market - By Fuel Type
Gasoline-powered used cars are expected to be the leading segment in terms of demand in Latin America, with a projected CAGR of 8.6% from 2024-2030. This can be attributed to their affordability and wide availability in the market.Β
Key Attractiveness of the Report
- 10 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Latin America Used Car Market Outlook
- Market Size of Latin America Used Car Market, 2023
- Forecast of Latin America Used Car Market, 2030
- Historical Data and Forecast of Latin America Used Car Revenues & Volume for the Period 2020 - 2030
- Latin America Used Car Market Trend Evolution
- Latin America Used Car Market Drivers and Challenges
- Latin America Used Car Price Trends
- Latin America Used Car Porter's Five Forces
- Latin America Used Car Industry Life Cycle
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Hatchbacks for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Sedan for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Others for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Hatchbacks for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Sedan for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Others for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Hatchbacks for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Sedan for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Others for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car MarketΒ Revenues & Volume By Vehicle Type for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Hatchbacks for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Sedan for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Others for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Hatchbacks for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Sedan for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Sports Utility Vehicle for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Others for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Vendor for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Organized for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Unorganized for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Vendor for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Organized for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Unorganized for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Vendor for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Organized for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Unorganized for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Vendor for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Organized for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Unorganized for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Vendor for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Organized for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Unorganized for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Fuel Type for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Gasoline for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Diesel for the Period 2020 - 2030
- Historical Data and Forecast of Latin America Used Car Market Revenues & Volume By Alternative Fuel Vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Fuel Type for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Gasoline for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Diesel for the Period 2020 - 2030
- Historical Data and Forecast of Brazil Used Car Market Revenues & Volume By Alternative Fuel Vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Fuel Type for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Gasoline for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Diesel for the Period 2020 - 2030
- Historical Data and Forecast of Mexico Used Car Market Revenues & Volume By Alternative Fuel Vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Fuel Type for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Gasoline for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Diesel for the Period 2020 - 2030
- Historical Data and Forecast of Argentina Used Car Market Revenues & Volume By Alternative Fuel Vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Fuel Type for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Gasoline for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Diesel for the Period 2020 - 2030
- Historical Data and Forecast of Rest of Latin America Used Car Market Revenues & Volume By Alternative Fuel Vehicles for the Period 2020 - 2030
- Latin America Used Car Market - Key Performance Indicators
- Latin America Used Car Market - Import Export Trade Statistics
- Latin America Used Car Market - Opportunity Assessment By Countries
- Latin America Used Car Market - Opportunity Assessment By Vehicle Type
- Latin America Used Car Market - Opportunity Assessment By Vendor
- Latin America Used Car Market - Opportunity Assessment By Fuel Type
- Latin America Used Car Market - Top Companies Market Share
- Latin America Used Car Market - Top Companies Profiles
- Latin America Used Car Market - Comparison of Players in Technical and Operating Parameters
- Latin America Used Car Market - Strategic Recommendations
Markets Covered
The Latin America Used Car Market report provides a detailed analysis of the following market segments:
By Countries
- Brazil
- Mexico
- Argentina
- Rest of Latin America
By Vehicle Type
- Hatchbacks
- Sedan
- Sports Utility Vehicle
- Others
By Vendor
- Organized
- Unorganized
By Fuel Type
- Gasoline
- Diesel
- Alternative Fuel Vehicles
Latin America Used Car Market (2024-2030): FAQs
The major factors driving growth in the Latin America used car market include increasing disposable income, government initiatives promoting sales, and easier access to financing options.
Some emerging trends in the Latin America used car market include the rising popularity of online platforms for buying and selling used cars, a growing demand for electric and hybrid vehicles, and an increase in certified pre-owned programs.
Brazil is expected to have the highest projected demand for used cars in Latin America with a CAGR of 9.2% from 2024-2030.
Sedans are expected to be the leading segment in terms of demand for used cars in Latin America with a projected CAGR of 8.7% from 2024-2030.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Latin America Used Car Market Overview |
| 3.1 Latin America Regional Macro Economic Indicators |
| 3.2 Latin America Used Car Market Revenues & Volume, 2020 & 2030F |
| 3.3 Latin America Used Car Market - Industry Life Cycle |
| 3.4 Latin America Used Car Market - Porter's Five Forces |
| 3.5 Latin America Used Car Market Revenues & Volume Share, By Countries, 2020 & 2030F |
| 3.6 Latin America Used Car Market Revenues & Volume Share, By Vehicle Type, 2020 & 2030F |
| 3.7 Latin America Used Car Market Revenues & Volume Share, By Vendor, 2020 & 2030F |
| 3.8 Latin America Used Car Market Revenues & Volume Share, By Fuel Type, 2020 & 2030F |
| 4 Latin America Used Car Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 Latin America Used Car Market Trends |
| 6 Latin America Used Car Market, 2020 - 2030 |
| 6.1 Latin America Used Car Market, Revenues & Volume, By Vehicle Type, 2020 - 2030 |
| 6.2 Latin America Used Car Market, Revenues & Volume, By Vendor, 2020 - 2030 |
| 6.3 Latin America Used Car Market, Revenues & Volume, By Fuel Type, 2020 - 2030 |
| 7 Brazil Used Car Market, 2020 - 2030 |
| 7.1 Brazil Used Car Market, Revenues & Volume, By Vehicle Type, 2020 - 2030 |
| 7.2 Brazil Used Car Market, Revenues & Volume, By Vendor, 2020 - 2030 |
| 7.3 Brazil Used Car Market, Revenues & Volume, By Fuel Type, 2020 - 2030 |
| 8 Mexico Used Car Market, 2020 - 2030 |
| 8.1 Mexico Used Car Market, Revenues & Volume, By Vehicle Type, 2020 - 2030 |
| 8.2 Mexico Used Car Market, Revenues & Volume, By Vendor, 2020 - 2030 |
| 8.3 Mexico Used Car Market, Revenues & Volume, By Fuel Type, 2020 - 2030 |
| 9 Argentina Used Car Market, 2020 - 2030 |
| 9.1 Argentina Used Car Market, Revenues & Volume, By Vehicle Type, 2020 - 2030 |
| 9.2 Argentina Used Car Market, Revenues & Volume, By Vendor, 2020 - 2030 |
| 9.3 Argentina Used Car Market, Revenues & Volume, By Fuel Type, 2020 - 2030 |
| 10 Rest of Latin America Used Car Market, 2020 - 2030 |
| 10.1 Rest of Latin America Used Car Market, Revenues & Volume, By Vehicle Type, 2020 - 2030 |
| 10.2 Rest of Latin America Used Car Market, Revenues & Volume, By Vendor, 2020 - 2030 |
| 10.3 Rest of Latin America Used Car Market, Revenues & Volume, By Fuel Type, 2020 - 2030 |
| 11 Latin America Used Car Market Key Performance Indicators |
| 12 Latin America Used Car Market - Opportunity Assessment |
| 12.1 Latin America Used Car Market Opportunity Assessment, By Countries, 2020 & 2030F |
| 12.2 Latin America Used Car Market Opportunity Assessment, By Vehicle Type, 2020 & 2030F |
| 12.3 Latin America Used Car Market Opportunity Assessment, By Vendor, 2020 & 2030F |
| 12.4 Latin America Used Car Market Opportunity Assessment, By Fuel Type, 2020 & 2030F |
| 13 Latin America Used Car Market - Competitive Landscape |
| 13.1 Latin America Used Car Market Revenue Share, By Companies, 2023 |
| 13.2 Latin America Used Car Market Competitive Benchmarking, By Operating and Technical Parameters |
| 14 Company Profiles |
| 15 Recommendations |
| 16 Disclaimer |
Pricing
- Single User License$ 4,560
- Department License$ 5,055
- Site License$ 5,595
- Global License$ 6,000
Search
Related Reports
- Czech Republic Crude Sulfate Turpentine Market Outlook | Size, Forecast, Growth, Share, Analysis, Trends, Value, Companies, COVID-19 IMPACT, Revenue & Industry
- Poland Crude Sulfate Turpentine Market Outlook | Revenue, Value, Share, Growth, Forecast, COVID-19 IMPACT, Size, Industry, Analysis, Trends & Companies
- Germany Stainless Steel Commercial Kitchen Appliances Market (2024-2030) | Segmentation, Growth, Outlook, Share, Analysis, Industry, Companies, Value, Size & Revenue, Forecast, Trends
- Bus Market (2024-2030) | Trends, Size, Value, Forecast, Growth, Share, Companies, Analysis, Revenue & Industry
- Canned Food Market (2024-2030) | companies, industry, Size, Share, Revenue, Forecast, Trends, Analysis, Growth, Value, Outlook
- India Video Surveillance Market (2024-2030) | Size, industry, Share, Trends, Revenue, Analysis, Forecast, Growth, Value, Outlook
- India Air Conditioner (AC) Market (2024-2030) | Share, Size, Growth, Industry, Segmentation, Trends, Value, Revenue, Analysis & Outlook
- Poland Printing Market (2024-2030) | Trends, Companies, Share, Industry, Value, Growth, Analysis, Outlook, Forecast, Size & Revenue
- Argentina Data storage devices Market (2024-2030) | Size, Share, Industry, Trends, Growth, Value, Revenue, Analysis & Outlook
- UAE Cyber Security Market (2024-2030) | industry, Size, Share, Revenue, Analysis, Forecast, Growth, Trends & Outlook
Industry Events and Analyst Meet
The Arab Desk
Smart Home Expo 2025
Print Expo 2024
πππ©ππ«π°π¨π«π₯π ππ’πππ₯π πππ¬π
Gifts & Lifestyle Middle East
Our Clients
Whitepaper
- Middle East & Africa Commercial Security Market Click here to view more.
- Middle East & Africa Fire Safety Systems & Equipment Market Click here to view more.
- GCC Drone Market Click here to view more.
- Middle East Lighting Fixture Market Click here to view more.
- GCC Physical & Perimeter Security Market Click here to view more.
6WResearch In News
- India's Printer Market Faces 20.7% Decline in Q4 2023: Epson and HP Lead Amidst Downturn
- India's Camera Market Sees 8.9% Decline in Q4 2023; Canon Leads with 38.4% Share
- Doha a strategic location for EV manufacturing hub: IPA Qatar
- Demand for luxury TVs surging in the GCC, says Samsung
- Empowering Growth: The Thriving Journey of Bangladeshβs Cable Industry
- The future of gaming industry in the Philippines
