Dublin, July 08, 2025 (GLOBE NEWSWIRE) -- The "North America Used Pickup Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034" has been added to ResearchAndMarkets.com's offering.
North America's Used Pickup Truck Market was valued at USD 17.1 billion in 2024 and is estimated to grow at a CAGR of 5.9% to reach USD 28.6 billion by 2034.
This growth is driven by the increasing availability of Certified Pre-Owned (CPO) options, which provide added peace of mind to buyers with thorough inspections, warranties, and guarantees. As a result, more consumers are opting for used trucks, knowing they come with the same level of quality and reliability as new ones. The demand for used pickups is further amplified by their essential role in both work and recreational activities. These vehicles are a staple for people in rural areas, particularly farmers and those involved in outdoor hobbies like camping, hiking, and fishing, where their ability to transport goods and haul heavy loads is vital.
With agricultural growth and the expanding popularity of outdoor pursuits, the need for affordable, reliable second-hand pickups is expected to increase throughout the forecast period. The rise of online platforms for buying used pickup trucks has revolutionized the market, allowing consumers to access detailed vehicle histories and competitive pricing, making it easier to shop for used vehicles from the comfort of their homes. With the convenience of browsing large inventories online, the demand for pre-owned trucks is rapidly increasing, further fueling market growth.
In 2024, the full-size pickup segment generated USD 13.5 billion and is expected to see substantial growth throughout 2034. Full-size pickups are known for retaining their value over time, making them a reliable option for buyers looking for quality vehicles at a more affordable price. They are also popular for their robust build and dependability, with multiple models offering a range of customization options for engine size, cab configurations, and trim levels.
Gasoline-powered pickup trucks segment made up 87% share in 2024. These trucks, while typically costing more to run, are often chosen by buyers who are on a tighter budget because they are less expensive upfront compared to diesel alternatives. The availability of gasoline is also more widespread, which makes these trucks more practical for everyday use, especially in areas where diesel fuel is less accessible. Additionally, gasoline engines are generally less costly to maintain and repair, making them an attractive option for those seeking long-term affordability.
U.S. Used Pickup Truck Market held an 85% share in 2024, owing to the high demand from sectors such as construction, logistics, and fleet management. These industries rely heavily on used trucks for daily operations due to their cost-effectiveness and durability. The constant need for dependable vehicles in these sectors leads to a robust resale market, with pickups maintaining consistent demand across states with high levels of infrastructure and development.
Key players in the North America Used Pickup Truck Market include: AutoNation, Lithia Motors, Hendrick Automotive Group, CarMax, Penske Automotive Group, DriveTime, Group 1 Automotive, Sonic Automotive, Asbury Automotive Group, and Carvana. To strengthen their market position, companies in the used pickup truck industry are focusing on offering comprehensive services like CPO options, extended warranties, and financing programs. They are also leveraging advanced digital platforms to enhance the buying experience, making it more accessible and user-friendly for customers.
Additionally, many of these companies are building a strong online presence and enhancing their inventory management to cater to a wider audience, improving convenience for buyers across different regions. By offering tailored solutions and continuously refining their customer service, they are increasing brand loyalty and expanding their market share.
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter's Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
Market Dynamics
Drivers:
- Strong demand from construction and logistics sectors
- Affordability compared to new pickup models
- Robust resale value and vehicle longevity
- Expansion of e-commerce and last-mile delivery
- Availability of certified pre-owned programs
Challenges:
- Limited inventory of high-quality used pickups
- Rising maintenance costs for older vehicles
Opportunities:
- Expansion of digital retail platforms for used truck sales
- Development of certified pre-owned (CPO) programs by independent dealers
- Subscription-based ownership models for used pickup trucks
- Growth in rural and semi-urban demand for utility vehicles
Company Profiles
- Asbury Automotive Group
- AutoNation
- Bill Gates Auto Group
- CarMax
- Carvana
- Copart (used vehicle auctions)
- DriveTime
- Enterprise Car Sales
- Ford Certified Pre-Owned
- General Motors Certified Pre-Owned
- Group 1 Automotive
- Hendrick Automotive Group
- Larry H. Miller Dealerships
- Lithia Motors
- Manheim (used vehicle auctions)
- Penske Automotive Group
- Shift Technologies
- Sonic Automotive
- Toyota Certified Used Vehicles (for pickup models)
- Vroom
For more information about this report visit https://www.researchandmarkets.com/r/yyagdb
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