Research Methodology – Used Car Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Used Car Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Used Car Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share:
- The number of cars previously owned or used currently on the market.
- Consumer trends and preferences for different types of used cars.
- Growth rate of the used car sector in comparison to the new car sector.
- Government regulations concerning used car sales.
- Geographical segmentation of the market.
- The average pricing of the used cars in the market.
- Supply and demand dynamics in the used car industry.
Key Market Indicators:
- The volume of used cars sold and the revenue generated from those sales.
- The average age of used cars being purchased in the market.
- Insights on key players and their market shares.
- Consumer behaviour patterns towards used car purchase.
- State of the economy, consumer income and spending levels.
- Rate of depreciation of car models in the market.
Growth Trends:
- Increased consumer preference for certified used cars.
- Growth of online platforms facilitating used car sales.
- Increase in the replacement rate of old vehicles.
- Rise of sustainable "green" automobiles leading to trade-ins for older models.
- Increase in car loan financing options promoting used car sales.
- The trend of shorter car ownership periods.
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Used Car Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Used Car Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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