Argentina Used Car Market Research Report, 2029

Like many other used car markets throughout the world, the Argentine market is undergoing a dynamic transformation as a result of technology improvements. Online marketplaces like Mercado Libre and OLX are market leaders because they facilitate direct communication between customers and sellers, offer a larger selection, and sometimes even lower pricing than traditional dealerships. In order to bridge the gap between in-person connection and online convenience, 3D tours and augmented reality are being utilized to create immersive online car experiences. Maintaining safe records of a vehicle's maintenance history and ownership history can improve openness and foster confidence in the used automobile market. Although they are still in their infancy, developments in autonomous vehicle technology may someday affect the used car market by bringing in previously owned self-driving vehicles. Primarily from Europe and the US, used cars were imported into Argentina in the beginning. The wealthy and elite were the owners of these luxurious cars. The middle class had more access to used cars in the 1950s thanks to the local production of vehicles like the IKA Torino and IKA Rambler. With increased convenience and transparency, the introduction of online vehicle marketplaces like as OLX and Mercado Libre has completely changed the used car buying and selling process. The market is evolving because to technological innovations including data-driven pricing, automated valuation tools, and virtual showrooms. The used automobile market in Argentina is still affected by the country's persistent economic problems, so both buyers and sellers need to be careful and flexible. According to the research report "Argentina Used Car Market Research Report, 2029," published by Actual Market Research, the Argentina Used Car Market is expected to grow more than 7% CAGR from 2024 to 2029. In Argentina, the younger generation is moving away from flashy new cars and toward more affordable, functional vehicles, which makes secondhand cars a more appealing option. Compact and fuel-efficient used cars are becoming more and more useful for negotiating crowded streets and cutting down on parking expenses as more people move into cities. Smaller families may not need large cars; therefore used cars are good options that are frequently more affordable. Import restrictions on new cars have the potential to decrease supply and raise prices, which would make used cars a more appealing choice for many consumers. The market is additionally stimulated by certain government programs that provide tax benefits for buying secondhand automobiles. Argentina has a long history of producing automobiles, which has led to a wide selection of secondhand vehicles from well-known manufacturers. In Argentina, owning a car is deeply ingrained in culture, and many people find that they may achieve this goal by purchasing used cars. Inflation and economic uncertainty cause used automobiles in Argentina to depreciate more quickly than in other nations, which lowers their resale value. Trust difficulties might arise from questions about the quality and reliability of secondhand cars due to improper maintenance and possible odometer tampering.

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Based on Vehicle Type market is divided into Conventional, Hybrid, and Electric. Compared to more recent alternative fuel or electric vehicles, conventional automobiles, which are frequently propelled by internal combustion engines that operate on gasoline or diesel, are typically more affordable. Consumers in markets where price is a major factor might lean toward conventional vehicles in the used automobile market. The well-established infrastructure that supports conventional automobiles includes a large number of gas and diesel filling stations. Customers may find conventional cars more practical and convenient in areas with less developed infrastructure for alternative fuels. Based on Body Type market is divided into Hatchbacks, Sedan, SUV & MUV, Others. In Argentina, where fuel prices are high, sedans have a considerable advantage over larger vehicles in that they are typically more fuel-efficient. They are therefore an affordable option for daily commuting and city driving. Due to their small size and agility, sedans are a great choice in large cities like Buenos Aires as they make parking and navigating crowded metropolitan areas easier. Argentinean drivers, who deal with traffic problems on a regular basis, find this practicality appealing. Sedans from reputable companies like Volkswagen, Renault, Peugeot, and Fiat have long been produced in Argentina. As a result, consumers have access to an abundance of reasonably priced and dependable used sedans. Customers are also given faith and confidence by these well-known businesses. Based on Fuel Type market is divided into Petrol, Diesel, Others. Petrol is dominating segment among all whereas diesel segment is also gaining importance. When compared to gasoline engines, diesel engines are typically recognized for having higher fuel efficiency. Because of this, people searching for economical automobiles may find diesel-powered vehicles appealing, particularly in regions where fuel prices are a major factor. Diesel engines are ideally suited for jobs like towing because they frequently have more torque. The diesel market may grow in significance if there is a need for cars that can tow trailers or move big loads. Diesel engines have a reputation for being strong and long-lasting. Diesel-powered cars could be sought after if buyers in the used car market value automobiles with long-lasting engines.

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Based on Size market is divided into Mid-Size, Compact, SUVs. In fact, the used automobile market in Argentina is seeing a boom in the popularity of the tiny size category. Compact vehicles provide the ideal ratio of roominess to maneuverability. Small families or single people can fit inside them with ease, and they're still manageable to navigate through busy city streets and park. Argentinians who struggle with few parking spaces and urban traffic will find this to be quite relatable. Compact cars are becoming more useful for negotiating tight spaces and heavy traffic as more Argentinians relocate to urban areas. Their reduced size also makes them suitable for urban parking. Based on Vendor Type market is divided into Organized, Unorganized. Compared to larger, organized dealerships, unorganized sellers like private individuals or smaller dealerships might have cheaper overhead costs. This may lead to used automobile costs dropping, attracting consumers on a tight budget. Older models, specialty vehicles, and vehicles that might not be as easily found in organized dealerships are just a few of the used automobiles that may be offered on the unorganized market. This may draw customers looking for particular or unique models. Based on By Distribution Channel market is divided into Offline, Online. Offline segment is among the popular choice. Differentiating themselves from online platforms with predetermined pricing structures, individual vendors might be more open to haggling and offering reduced costs. This may draw in customers looking for the best bargain on a restricted budget. Buyers who have direct communication with the seller can learn specifics about the history and usage of the car, which may help to develop confidence and trust. The offline market may present a viable alternative for purchasers looking for rare or vintage cars that are not easily found through internet channels.

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Considered in this report: • Geography: Argentina • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • Argentina Used Car market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Vehicle Type: • Conventional • Hybrid • Electric By Body Type: • Hatchbacks • Sedan • SUV & MUV • Others By Fuel Type: • Petrol • Diesel • Others By Size: • Mid-Size • Compact • SUVs By Vendor Type: • Organised • Unorganised By Distribution Channel: • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the used car industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.