A used car is a pre-owned automobile that is offered for sale. Used automobiles can be purchased from a variety of places, including franchised and independent auto dealers, rental car agencies, public and private auctions, and leasing offices. Due to the high cost of cars and the associated maintenance costs, millennials have a lower rate of personal car ownership. Additionally, millennials tend to want to minimise costs, therefore they frequently use second hand cars when travelling. 

People now have considerably better access to information thanks to rapid urbanisation, increased internet connectivity, and telecom industry improvements. Owners of second hand cars are gradually using these traits to promote their vehicles online and share information about them. This has streamlined the sales procedure and made it possible for more people to acquire and sell cars. The used automobile market has become a single window market without any geographic constraints thanks to online inventory sharing. Online inventory pooling in the automotive sector has made inventory management realistic, efficient, and profitable despite the fact that inventory locations may be connected to several geographical regions, distinctive items, or different customers. Due to this, used automobile sales in Australia have been more profitable recently. Additionally, by offering advertisements at a lower cost than other conventional marketing channels, social media will play a crucial role in generating leads for dealers and end consumers.

The expansion of the used vehicle industry is reportedly being fuelled by elements like the high price of new cars, concerns about affordability, a rise in demand for off-lease cars, and subscription services offered by franchises, leasing offices, and auto dealers. Due to the rise in popularity of SUVs over the previous five years, which suggests the hatchback is currently out of style, the used hatchback car category in Australia is likely to hold a sizable market share. Therefore, there is a rising demand for hatchbacks that provide versatility when manoeuvring in confined spaces. The development of the used car market is aided by the notable presence of prominent automakers offering a wide selection of hatchback vehicle types. 

However there are several challenges that limit the expansion of used car market in Australia. Due to the dependence of the used car market on replacement customers, car owners selling their vehicles, and used car imports, there is a lot of uncertainty around the availability of supplies to satisfy market demand. These worries are therefore expected to limit the expansion of the used car market in the forecasted period.

The COVID-19 pandemic outbreak has significantly disrupted the car sector. Consumers have a stronger propensity to use private transport during the pandemic. The purchase of new cars, however, is likely to be hampered by economic disparities, and commuters are likely to choose old vehicles because of these issues. Additionally, during this pandemic period, sales leads created online, virtually, or digitally buy brand-new cars.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; BMW Premium Certified, Brighton Suzuki Brighton, Cars24, Carsales.com Limited, Carsguide Autotrader Media Solutions Pty Ltd., Cartopia Pty Ltd, Drive (Nine Entertainment Co. Pty Limited), Gumtree AU Pty Limited, HELLOCARS SUBSCRIPTION PTY LTD., Toyota Certified Pre-Owned Vehicle, Others.

By Vendor Type: Based on the Vendor Type, Australia Used Car Market is segmented as; Organized, Un-organized.

By Fuel Type: Based on the Fuel Type, Australia Used Car Market is segmented as; Diesel, Electric, Petrol, Others.

By Body Type: Based on the Body Type, Australia Used Car Market is segmented as; Hatchback, Multi-Purpose Vehicle, Sedan, Sport Utility Vehicle.

By Sales Channel: Based on the Sales Channel, Australia Used Car Market is segmented as; Offline, Online.

By Region: This research also includes data for Eastern Region, Northern Region, Southern Region, Western Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.