In 2019, the global used car trading market will reach about US $1333.2 billion, and the compound annual growth rate (CAGR) from 2020 to 2027 is expected to be 5.5%. In 2019, the second-hand car shipment volume will be 102.8 million. In the past few years, the second-hand car market has seen significant growth, and the price competitiveness among new manufacturers has always been a bright spot in the second-hand car industry. Customers' inability to buy new cars has become one of the reasons for the growth of used car sales, and industry participants have also invested in the market to establish their own dealer network. These dealer networks help market participants build brands and make second-hand car choices viable. In addition, the role of online sales has become a key growth factor in the market. Online websites in the automotive market play a crucial role in providing consumers with one touch access to the car. The combination of these developments has led to a sharp rise in the demand for second-hand cars.

Until recently, car manufacturers and dealers focused mainly on their new car business, rejecting used cars, which were often seen as by-products. However, the market competition and the threat of new entrants, to a large extent, caused the upsurge of used car dealers. In addition, the increase in the quality and reliability of used cars has changed the attitude of consumers and increased the sales volume of used car transactions. Investment in used car trading management has become one of the requirements of the market, which is characterized by declining profit margin, cruel competition and demanding consumers.

The development of the Internet, the introduction of hybrid and electric vehicles and other technological advances have changed the buyer's position in the market. In addition, consumers now understand the vehicle, its residual value, quality, financing costs, availability, price of the application, and sometimes the profit margin at which the seller completes the transaction. This knowledge has changed the dynamics and successfully transformed customer intelligence into its own advantage. Therefore, consumers are more inclined to buy used cars.

Some key factors, including the transparency and symmetry of information between consumers and buyers, the growth of online sales channels, certified used car projects, and the strong position of franchisees, have played an important role in driving the growth of used cars. In both developed and developing countries, the usage of new cars has increased in the past few years, which is the reason mentioned above. In addition, with the support of OEMs, franchised dealers will benefit from the growth of the used car trading market by participating in certification and marketing programs, online inventory pooling and obtaining high-quality contracts.

The pandemic of covid-19 (Coronavirus disease) has brought great impact to the automobile industry. After the pandemic, consumers are expected to prefer private transport. However, the financial gap is expected to hinder the purchase of new cars; due to budget constraints, commuters are expected to choose used cars. In addition, virtual reality, online or digitally generated sales leads buy new cars in this period of popularity.

Due to the popularity, hybrid and electric vehicles are expected to compete in the next two to two years due to the current economic situation. Although the impact of the pandemic on the automotive market will increase the demand for medium-sized cars, it is expected that high-quality compact cars will also supplement this demand. More broadly, in developing countries, the pandemic is expected to be a reason for some entry-level compact used cars to return to the market. The market will also change with the demand of different market segments, because each market segment has its own preference for cars.