Latin America Used Car Market Size & Outlook, 2024-2030

The used car market in Latin America is expected to reach a projected revenue of US$ 194,560.1 million by 2030. A compound annual growth rate of 7.4% is expected of Latin America used car market from 2025 to 2030.
Revenue, 2024 (US$M)
$127,042.6
Forecast, 2030 (US$M)
$194,560.1
CAGR, 2025 - 2030
7.4%
Report Coverage
Latin America

Latin America used car market, 2018-2030 (US$M)

Latin

Latin America used car market highlights

  • The Latin America used car market generated a revenue of USD 127,042.6 million in 2024.
  • The market is expected to grow at a CAGR of 7.4% from 2025 to 2030.
  • In terms of segment, hybrid was the largest revenue generating vehicle type in 2024.
  • Hybrid is the most lucrative vehicle type segment registering the fastest growth during the forecast period.

Latin America data book summary

Market revenue in 2024USD 127,042.6 million
Market revenue in 2030USD 194,560.1 million
Growth rate7.4% (CAGR from 2024 to 2030)
Largest segmentHybrid
Fastest growing segmentHybrid
Historical data covered2018 - 2023
Base year for estimation2024
Forecast period covered2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationHybrid
Key market players worldwideAlibaba Group Holding Ltd ADR, CarMax Inc, Asbury Automotive Group Inc, TrueCar Inc, Scout24 SE, Lithia Motors Inc Class A, Group 1 Automotive Inc, EBay Inc, AutoNation Inc, Hendrick Automotive Group

Other key industry trends

  • In terms of revenue, Latin America region accounted for 6.7% of the global used car market in 2024.
  • Globally, North America is projected to lead the regional market in terms of revenue in 2030.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 748,776.9 million by 2030.

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Used Car Market Scope

Used car market segmentation & scope
Hybrid
Conventional
Electric
Vendor Type
Organized
Unorganized
Fuel Type
Diesel
Petrol
Others
Size
Compact
Mid-Sized
SUV
Sales Channel
Offline
Online

Used Car Market Companies

Name Profile # Employees HQ Website

Latin America used car market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to used car market will help companies and investors design strategic landscapes.


Hybrid was the largest segment with a revenue share of 100% in 2024. Horizon Databook has segmented the Latin America used car market based on hybrid covering the revenue growth of each sub-segment from 2018 to 2030.



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Target buyers of Latin America used car market databook

  • Our clientele includes a mix of used car market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.

Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America used car market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America used car market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Latin America used car market

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