Welcome to our latest blog post where we delve into the world of the used car market, an industry that quite literally moves millions of Americans every year. We will be revealing the most current statistics, providing an insight into the size, scope, and trends shaping this robust segment of the US auto industry. Whether you’re a car enthusiast, a potential buyer or seller, or simply a statistician eager for new data, this detailed examination of the American used car market is sure to accelerate your understanding and put you in the driver’s seat of knowledge. So strap in, start your engines, and let’s navigate the fascinating landscape of used car market size statistics together.

The Latest Us Used Car Market Size Statistics Unveiled

The used car market size was valued at $932.1 billion in 2021 in the U.S.

In the grand scheme of dissecting the U.S. used car market, the staggering $932.1 billion valuation in 2021 serves as a pacesetter. This robust figure speaks volumes about the vitality of the sector, shedding light on its hefty contribution to the American economy. It also illustrates a thriving industry, rich in opportunities for both business ventures and consumers looking for cost-effective vehicle options.

At first glance, this concrete figure comes across as a testament to the magnitude of the blossoming second-hand car industry – a veritable giant standing tall in the economic landscape. As we delve further into the subject matter, the rarity and significance of this behemoth valuation becomes apparent, guiding the reader’s understanding of the industry’s fortunes, trends and potential trajectory.

Hence, the $932.1 billion valuation is not just an elaborate ornament of numerical fact. Consider it the pulse-reading of the used car market, an authentic indicator of the sector’s health and vibrancy in 2021, and an accurate compass guiding us towards the economic reality and untapped potential of the ever-evolving US used car market.

The U.S used car market size is projected to reach $1,355.2 billion by 2027.

Shining a spotlight on the projected figures of the U.S used car market, an impressive snapshot of future growth emerges, zooming to a staggering $1,355.2 billion by 2027. Beyond just numbers, this projection paints a compelling picture of potential, underpinning a flourishing used car market space ready to seize significant revenue accelerations in the coming years. Wrapped in the cocoon of this prediction, both investors and stakeholders are handed a crystal ball, allowing them to strategize, forecast, and navigate the evident potential for robust returns. Furthermore, this projection supplies ample fuel for policy developers, economists, and industry insiders to better understand market demands and trends, thereby contributing to smarter decisions that guide this industry’s impressive advent.

Approximately 40 million used cars are sold each year in the U.S.

Peeling the layers off the raw number ‘Approximately 40 million used cars sold each year in the U.S.’ is like opening a Pandora’s box of insights into the behemoth that the used car market is. This figure is not just a rote statistic, but serves as a vibrant reflection of the vastness of the marketplace. It provides a glimpse into the ever-rotating carousel of automobiles exchanging hands, underlining the fluidity and constant demand within this sector. The throbbing pulse of the used car market finds a quantifiable beat in this number, propelling further analysis of consumer behavior, market trends, economic factors, and opportunities for businesses in this sphere.

The average price of used cars was $25,463 in 2020, an increase of 13.7% from a year earlier.

Highlighting the elevated average price of used cars to $25,463 in 2020, a remarkable surge of 13.7% from the prior year, unveils critical insights into the dynamics of the US used car market. Such a considerable upswing denotes a robust demand for second-hand vehicles, possibly asserting customers’ preference for affordable alternatives amid economic uncertainty. Furthermore, this inflation also reflects the increased market valuation of used cars, suggesting a potential shift in consumer perceptions towards their value and durability. This developing trend, hence, serves as a pivotal compass, steering both potential investors and industry stakeholders through an understanding of market direction, consumers’ behavior, profitable opportunities, and competitive strategizing in the US used car landscape.

The used car price index was around 176.1 points in December 2021.

Shedding light on the aforementioned statistic, which portrays a used car price index of approximately 176.1 points in December 2021, the relevance to a blog post regarding US used car market size statistics is paramount. This figure serves as a symbolic thermometer, reflecting the fever-pitch activity within the market. It speaks volumes about the trends, cost fluctuations, and overall health of the used car industry, providing a clear and detailed snapshot of the market dynamics at a specific point in time.

Furthermore, this index indicator is a reliable navigational tool for both buyers and sellers, helping them steer their decisions in the rapids of the used car industry. For potential investors, it offers key insights, aiding them in forecasting potential opportunities or downturns in the market. Hence, any analysis about the US used car market size, devoid of reference or context to the price index, can be akin to driving in the dark without headlights.

More than 50% of used vehicles were bought from franchise dealerships in 2019.

In attempting to unravel the complexities of the used car market, certain nuggets of data prove to be incredibly revealing. The fact that over 50% of used vehicles in 2019 found their new homes via franchise dealerships is one such golden nugget. It unearths the dominant role franchise dealerships have in shaping this robust market, offering illuminating insights into consumer preferences and trust levels. As we dissect the market size, this statistic serves as a telling yardstick in understanding the influence and power held by franchise dealerships. Whether you’re an industry analyst, a used car dealer, or just a curious spectator, this single statistic escorts you right into the heart of the used car market dynamics.

The fastest-selling used car in 2020 was the Chevrolet Bolt EV, with an average of 13.4 days on the market.

Highlighting the stat concerning the Chevrolet Bolt EV’s popularity as the fastest-selling used car of 2020 peppers our narrative with a vibrant splash of emerging trends in the American used car ecosystem. It triggers a thoughtful dialogue surrounding market dynamics, buyer preferences, and sales velocity. The lightning-fast 13.4 average days on the market for this model underscores a dramatic acceleration in the demand for electric vehicles. In the wider panorama of the robust used car market size statistics, it steers our attention toward the potential shift in consumer demand towards sustainable and affordable transportation options. This exquisite piece of information effortlessly amplifies the market’s vibrancy while setting the stage to delve deeper into shifts in consumer demand-and-supply trends.

In 2020, the Honda Odyssey was the slowest-selling used car in the US market, spending an average of 101.4 days on the market.

Drawing insights from statistics like the prolonged 101.4 days stay of Honda Odyssey on the US used car market in 2020 can be of particular interest to our readers for a few reasons. For starters, from a seller’s standpoint, this can help shed light upon potentially undesirable car models or brands that could require more aggressive marketing strategies to prevent stagnation in sales. From a buyer’s perspective, it offers invaluable insights about bargain opportunities. If a car model is sitting longer on the market, it might be possible to negotiate a better deal.

Moreover, incorporating such metrics into a broader analysis of the used car market can help us understand the trends guiding consumer behavior. Perhaps certain features of the Honda Odyssey are out of favor, or external factors like economic conditions could be affecting certain segments of the auto industry differently.

Finally, this tidbit about the Honda Odyssey can also allude to the competition within the auto market. An average selling time much higher than industry norms could suggest intense competition or could mean that more popular alternatives are available. The potential reasons are numerous, and teasing them out would provide a richer understanding of the used car market landscape in the US.

The used car market is projected to grow at a CAGR of 5.5% from 2021 to 2028.

Shining the headlights on the burgeoning growth of the used car market, we unravel a trend indicating a bold 5.5% CAGR from 2021 to 2028. With this accelerator-driven trajectory, the statistic forms the engine of the narrative in a blog post about the US used car market size. This percentage isn’t just a number; it drives home the potential, profitability, and progressive dynamism of the industry, offering both consumers and businesses a clear road map to navigate possible investments and decisions. This growth forecast, essentially, revs up the blog’s relevance, presenting comprehensive insights into future market progression and offering roadmap to stakeholders in the automotive universe.

The SUV segment held the major share (around 40%) in 2020 in the US used car market.

Illuminating the playful dance of numbers and business trends, it’s fascinating to see that the SUV segment held dominion, capturing an impressive 40% share of the US used car market in 2020. This sparkling gem of information is not merely a statistic, it tells a larger story. In the orchestration of a blog post about US used car market size statistics, this data point is an imperative pivot.

With SUVs commanding such a significant market share, it portrays a vivid picture of consumer preferences and buying behaviors. It points to the popularity of SUVs among used car buyers, reflecting patterns in fuel economy, performance, safety, and economic consideration.

This information, like a lighthouse, guides advertisers, car manufacturers, and resellers as they re-strategize to better appeal to the market’s demands. Furthermore, it might prove educational for those deliberating on car buying decisions or investment opportunities. In essence, an insightful narrative about the size and dynamics of the US used car market remains incomplete without acknowledging the power held by the SUV segment in 2020.

In 2020, light-duty vehicles accounted for approximately 58.7% of the total used vehicles sold in the United States.

This intriguing statistic paints a detailed picture of the U.S. used car market landscape in 2020, highlighting the dominance of light-duty vehicles, such as sedans, wagons, or light trucks. With these vehicles making up a staggering 58.7% of the total used vehicles sold, it adds a new dimension to one’s understanding of consumer preferences in this sector. The substantial representation of light-duty vehicles intimates growing consumer demand for such models, potentially influenced by factors such as their affordability, fuel efficiency, or suitability for urban environments. For stakeholders and potential investors, this significant market dominance is a valuable insight for shaping future business decisions or strategies in the American used car market.

Pickup trucks accounted for 12.4% of used vehicle sales in Q3 of 2020 in the U.S.

Shining a spotlight on this intriguing statistic, we see that pickup trucks made up 12.4% of total used vehicle sales in the 3rd quarter of 2020 in the U.S. This nugget of information serves as a yardstick indicating the level of popularity and demand that pickup trucks hold in the used car market. It assists readers to gauge consumer preference trends, giving them a sense of which vehicle categories may offer the most lucrative avenues to focus on. Furthermore, it allows us to gauge the pulse of the American used vehicle market landscape, going beyond just figures and providing insights into the underlying consumer behaviors and market dynamics. It emphasizes the significant role that pickup trucks play, which arguably forms a vital cog that helps steer the vast machine that is the U.S used car market.

The used-CPO (Certified Pre-Owned) market posted sales of over 2.8 million units in 2020 in the U.S.

The revelation of over 2.8 million units in used-CPO sales in 2020 offers salient insights into the robust nature of the U.S. used car market. This figure frames a testament to the thriving demand for certified pre-owned vehicles, reflecting consumers’ preferences for affordability coupled with guaranteed quality and reliability. The compelling dynamics behind this trend enhances our understanding of the used car market, underlining its significant contribution to the overall automotive industry. An enlarged perspective of this statistic can foster more nuanced discussions on market trends, buyer behavior, and economic shifts.

About 21% of consumers bought their used car online in 2021 in U.S, compared to 12% in 2020.

The shifting sands of consumer behavior become apparent when we examine the statistic that in 2021, about 21% of consumers in the U.S. purchased their used cars online, an increase from 12% in 2020. This pivotal transition has far reaching consequences, shedding light on the escalating trend of digitalization altering traditional car buying patterns. The surge emphasizes not only the growing trust in online used-car platforms but also consumers’ desire for convenience, perhaps even hinting at the lasting effects of the recent pandemic on purchasing habits. Therefore, taking heed of this statistic provides a critical element for anyone analyzing or involved in the U.S. used car market, as understanding this shift aids in crafting targeted strategies or predicting future trends.

Pre-owned sports cars witnessed a price increase of about 33.5% in 2021.

The stroke of this intriguing data point, signaling a robust price surge of approximately 33.5% in pre-owned sports cars in 2021, casts a vivid picture on the canvas of the ever-evolving US used car market. This table-turning statistic is the heartbeat. It silently whispers the tale of a booming US secondary car market, overflowing with an unquenchable thirst for sports cars. Providing weight to the upward trajectory of the market’s size, it also underlines the surging consumer confidence and growing affordability amidst shifting economic paradigms. So, let’s step into this exhilarating economic raceway, where previous owners are victors, sporting a triumphant grin as their sports car assets appreciate remarkably.

It is expected that by the end of 2025, around 70% of the used car transactions will be digitally.

In the panorama of the US used car market, the intriguing prediction that around 70% of transactions will shift towards digital platforms by 2025 serves as a pivot point for the industry’s future. Highlighting this statistic in a blog post elucidates the transforming landscape of this market, supporting the potential surge in tech-driven interventions and the diminishing reliance on traditional, in-person transactions. This digital reset is also suggestive of enhanced convenience, broadened customer reach, and a significant reduction in time constraints for both sellers and buyers. Thus, the changing modus operandi for used car transactions, as reflected in this statistic, provides pivotal food for thought, inviting blog readers to reflect on the emerging trends and growth prospects of the used car industry.

Vehicle age is increasing, in 2020 the average age of vehicles on the road in the US was 11.9 years.

Painting a vivid picture of the U.S used car market, this statistic provides valuable and interactive insight. It elucidates the increasing lifespan of vehicles, thus directly influencing the market size. As vehicles’ average age elevates to 11.9 years in 2020, it logically suggests a robust and thriving used car market. People persistently operating older vehicles implies a robust demand for used cars, constituting an environment optimal for growth in the sector. Moreover, it also signifies potential opportunities for spare parts manufacturers, mechanics and used car dealers, fueling the used car industry’s expansion. Therefore, this particular statistic plays a pivotal part in shaping the narrative about the U.S used car market size.

SUVs had the largest share in sold used vehicles in 2020 with 40.6% of the total sales.

Unveiling the dominance of SUVs in the pre-owned car bazaar, we unearth an intriguing paradigm shift. As the titan of the arena, SUVs trounced other categories in 2020, making up a decisive 40.6% of total sales. This hefty market portion etches the significance of SUVs on the roadmap of the US used car industry. Not only does it illustrate buyer preferences, it offers invaluable insight for stakeholders, from second-hand auto dealers to manufacturers considering the production and design of future models. Furthermore, it triggers us to question why SUVs appeal to a large section of consumers, sparking a deeper discourse around factors like fuel economy, safety, capacity, and comfort. It not only reflects past trends but potentially sets the stage for future forecasting.


In summary, the used car market in the US is a booming industry, exhibiting substantial growth year after year. With evolving customer preferences, advanced digital platforms, and a surge in affordability, the sector is expected to continue expanding. However, market size should never be the only indicator for investors and potential business entrants. Despite the encouraging statistics, the used car market will always present challenges. Economic fluctuations, changes in consumer confidence, and evolving legal or environmental regulations can all impact the market’s performance. Nevertheless, the robustness and resilience of the US used car market are irrefutable, offering numerous opportunities for businesses savvy enough to navigate this complex landscape. As pre-owned vehicles become an increasingly preferred choice for many American consumers, the future looks promising for sellers and buyers alike in the US used car market.


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