New Digital Retailing Business Models In Used Car Market Take Center Stage With Covid

New Digital Retailing Business Models In Used Car Market Take Center Stage With Covid

New digital retailing models are bringing a zing to the used car space





Getty





The shine may have gone off the new car business but the gloss is still very much on its used car counterpart. Today, used car sales outstrip that of new cars by a margin of almost 2:1 in the U.S., Germany, the U.K and France. And the key game changer, to my thinking, has been the introduction of a clutch of new digital retailing models that have brought a zing to the used car space. They have essentially reinvented how used cars are bought and sold (no more used car salesman jokes!), while making every element in the process simple, convenient, quick and transparent.



Reinventing How Used Cars Are Bought And Sold



Based on broad similarities“”whether B2B, CRC or B2C“”and their revenue streams, I believe these new business models can be grouped into six distinct segments.

















Online marketplace platforms for used cars





Frost & Sullivan







The first is, of course, the basic C2C/B2C marketplace that serves as a platform connecting sellers and buyers, where both interact directly to complete