ONLINE CAR BUYING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• On November 7, 2023, CarGurus Inc. is a leading online automotive marketplace headquartered in Cambridge, Massachusetts. announced its acquisition of CarOffer, thus, aiming to expand its presence in the automotive market. CarOffer specializes in innovative technology solutions for vehicle buying and selling, thus, aligning with CarGurus' growth strategy.
• On November 15, 2022, AutoNation Inc. is a prominent automotive retailer in the United States, headquartered in Fort Lauderdale, Florida. announced its acquisition of approximately 6.1% of TrueCar, a leading digital marketplace in the automotive sector. TrueCar connects car buyers with Certified Dealers nationwide, thus, reflecting AutoNation's commitment to cutting-edge technologies and exceptional customer service.
• In September 2022, Volvo a leader in safety technology and innovation announced its plan to expand its certified used-car operations in India by early 2024, aiming for this segment to represent about one-third of its total sales volume. Volvo runs its pre-owned car business worldwide using the 'Selekt' platform, which was introduced in India with the opening of two dealerships.
• On December 2, 2020, Asbury Automotive Group Inc. is a prominent automotive retailer in the United States, headquartered in Duluth, Georgia. introduced Clicklane, a complete online car buying and selling platform. Developed in partnership with Gubagoo, Clicklane enhances the car purchasing experience across Asbury's store network.