The estimated sales for used car dealers in the US have demonstrated substantial growth from 2013 to 2023, rising from $83.92 billion to $130.72 billion. The data indicates annual sales increases, with only a notable dip in 2020, attributed to the pandemic. Year-on-year growth and CAGR rates present a fluctuating yet generally upward trend, averaging around 2.71% from 2019 to 2023.

From 2024 onward, forecasts predict a steady rise, reaching $146.84 billion by 2028. This translates to a forecasted five-year CAGR of 1.89%, indicating moderated yet consistent growth for the used car market in the foreseeable future.

Future trends to watch:

The digital transformation and its influence on used car sales platforms.
Increased consumer demand for certified pre-owned vehicles.
The impact of economic fluctuations and supply chain constraints on used car prices.
Shifts in consumer behavior towards more sustainable and eco-friendly vehicle choices.