Online Car Buying Market, By Vehicle Type (Hatchback, Sedan, SUV, Others), By Propulsion Type (Petrol, Diesel, Others), By Category (Pre-Owned Vehicle and New Vehicle), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : May 2024

Code : CMI6983

Pages :173

Formats :

Excel and PDF

Industry : Automotive and Transportation

Market Concentration and Competitive Landscape

Online Car Buying Market Concentration By Players

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Market Driver: Rise of Multichannel Integration

Global online car buying market has evolved significantly beyond standalone online and offline channels with the rise of effective multichannel integration models. Nowadays consumers conduct an initial online research across multiple touchpoints but prefer engaging with dealerships or multibrand sales consultants for test drives, paperwork, loan processing and delivery of their new vehicle. Recognizing this omnichannel behavior, leading automotive retailers have incorporated synchronous digital and physical shopping journeys. For example, some allow customers to complete most of the paperwork, trade-in valuations and financing online before scheduling a brief visit to the dealership only for the final negotiations, signing of contracts and vehicle handover.

Many dealerships have also established dedicated mobile sales consultants who can demonstrate vehicles, resolve queries and coordinate deliveries remotely for customers who want a personalized touchpoint near their location without having to visit crowded showrooms.

Key Players