The used car industry sells vehicles that have already had one or more retail owners, through dealers, rental companies, auctions and private sales, with some retailers also offering certified pre owned vehicles and extended warranties. The global used car market was valued at about 1.81 trillion dollars in 2025 and is projected to reach about 3.31 trillion dollars by 2034, and in the United States alone the industry generates more than 350 billion dollars in annual sales, about 37.4 million units in 2024, making it almost half of the country's auto retail market and its largest retail segment by volume. The industry is also shifting online: by 2025 an estimated 55 percent of global used car transactions took place through digital platforms, and certified pre owned vehicles account for roughly a third of global used car sales. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
FAQs
What must a used car dealer disclose about warranties in the United States?
Dealers must post a Buyers Guide stating whether a used car is sold as is or with a warranty.
Under the Federal Trade Commission's Used Car Rule, a dealer must post a Buyers Guide on a used vehicle before displaying it for sale or letting a customer inspect it for the purpose of buying it. The guide states whether the vehicle is being sold as is or with a warranty, and it lists the major mechanical and electrical systems on the car along with some of the major problems consumers should look out for. The rule covers dealers who sell or offer for sale more than five used vehicles in a 12-month period, and it applies in all states except Maine and Wisconsin, which have similar regulations of their own.
Connections
In Sector
Additional Source Wikipedia: Global Industry Classification StandardGICS: Automotive Retail
Sources
1. Wikipedia, Used car
lead sectionQuote, lead section
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners.
Wikipedia: Global Industry Classification Standard
WikipediaIn Sector: Consumer Discretionary, GICS: Automotive RetailView the Source Reader Challenges (0)
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