Automotive E-Retail Market Trends and Forecast
The future of the global automotive e-retail market looks promising with opportunities in the passenger car and commercial car markets. The global automotive e-retail market is expected to grow with a CAGR of 16.1% from 2024 to 2030. The major drivers for this market are increasing consumer preference for online shopping convenience and accessibility, growing demand for personalized vehicle customization options, and expansion of digital infrastructure and advancements in e-commerce technologies.
• Lucintel forecasts that B2C is expected to witness the higher growth over the forecast period.
• Within this market, passenger car is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States - Tesla announces plans to expand its online sales platform, aiming to reach more customers directly. The government sets targets to enhance digital infrastructure to support e-commerce growth. Ford introduces new online customization tools for vehicle purchases. Amazon partners with automotive brands to streamline online car parts sales.
India - Maruti Suzuki launches an e-commerce platform for online car bookings and purchases. The government announces incentives to promote online vehicle sales and digital transactions. Hyundai sets targets to increase online sales penetration through strategic partnerships with e-commerce platforms. Mahindra & Mahindra expands its online presence with virtual showrooms and test drives.
China - Alibaba-backed AutoNavi partners with major automakers to offer online car sales and services through its platform. The government supports the growth of automotive e-retail by investing in digital infrastructure and e-commerce regulations. NIO announces plans to expand its online sales model for electric vehicles, targeting younger consumers. Tencent-backed Didi Chuxing launches an e-commerce platform for car-sharing services and online vehicle purchases.
Germany - Volkswagen accelerates its digital transformation with plans to invest in its online sales platform and enhance digital customer experiences. The government introduces incentives to promote online car purchases, aiming to boost e-commerce in the automotive sector. BMW announces targets to increase online sales and digital service offerings. Mercedes-Benz launches a virtual showroom for online vehicle browsing and customization.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Automotive E-Retail by Segment
The study includes a forecast for the global automotive e-retail by type, application, and region.
Automotive E-Retail Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• B2C
• C2C
Automotive E-Retail Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Cars
• Commercial Cars
Automotive E-Retail Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Automotive E-Retail Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive e-retail companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive e-retail companies profiled in this report include-
• Asbury Automotive
• Autonation
• Ebay
• Group 1 Automotive
• Hendrick Automotive
• Lithia Motors
• Penske
Recent Development in the Automotive E-Retail Market
Amazon: Expands automotive parts and accessories offerings, enhancing its e-retail platformÄX%$%Xs selection and convenience for customers.
Carvana: Introduces virtual car buying experience with 360-degree vehicle views and online financing options, revolutionizing the automotive retail sector.
Tesla: Enhances online ordering process, introducing features like direct-to-consumer sales and customization options for electric vehicles.
Alibaba: Collaborates with automakers to launch an online car sales platform, leveraging its extensive e-commerce ecosystem for seamless vehicle purchasing experiences.
eBay Motors: Expands its online marketplace for vehicle sales, offering a wide range of new and used cars with features like secure payment options and vehicle protection programs.
Ford: Introduces Ford Blue Advantage, an online platform for certified pre-owned vehicle sales, providing customers with transparent pricing and comprehensive vehicle history reports.
Features of the Global Automotive E-Retail Market
Market Size Estimates: Automotive e-retail market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive e-retail market size by type, application, and region in terms of value ($B).
Regional Analysis: Automotive e-retail market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the automotive e-retail market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive e-retail market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for automotive e-retail market?
Answer: The global automotive e-retail market is expected to grow with a CAGR of 16.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the automotive e-retail market?
Answer: The major drivers for this market are increasing consumer preference for online shopping convenience and accessibility, growing demand for personalized vehicle customization options and expansion of digital infrastructure and advancements in e-commerce technologies.
Q3. What are the major segments for automotive e-retail market?
Answer: The future of the automotive e-retail market looks promising with opportunities in the passenger car and commercial car markets.
Q4. Who are the key automotive e-retail market companies?
Answer: Some of the key automotive e-retail companies are as follows:
• Asbury Automotive
• Autonation
• Ebay
• Group 1 Automotive
• Hendrick Automotive
• Lithia Motors
• Penske
Q5. Which automotive e-retail market segment will be the largest in future?
Answer: Lucintel forecasts that B2C is expected to witness the higher growth over the forecast period.
Q6. In automotive e-retail market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive e-retail market by type (B2C and C2C), application (passenger cars and commercial cars), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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