The Business Research Company’s Motor Vehicle And Parts Dealers global market report, covers the year-on-year growth of the global Motor Vehicle And Parts Dealers market historic and forecast growth. It also includes chapters on the Motor Vehicle And Parts Dealers market trends, geographical analysis, and competitive landscape.
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The global motor vehicle and parts dealers market size is expected to increase by 2021, significantly growing at a CAGR of around 7% during the forecast period.
Motor Vehicle And Parts Dealers Market Trends
The motor vehicle and parts dealers market consists of sales of motor vehicles and parts and related services by entities (organizations, sole traders and partnerships) that sell l automobiles, other motor vehicles, automotive parts, accessories, and tires to ultimate users. The companies in the industry typically operate from showrooms where vehicles and related parts are displayed.
Virtual reality empowers the customer experience by letting them connect to the product with interactive and personalized options. Virtual reality allows the customers to immerse themselves in the experience of owning a product. Automotive company Lexus is using virtual reality technology which allows its customers to virtually test drive their new models. North Face, an apparel company, is using VR technology which transports its customers to Yosemite National Park as they are shopping at the stores. Volvo is also VR technology which lets the customers get the feel of being in the car and take an imaginary journey. Lexus made its customers take a virtual test drive of their new models in significantly realistic manner than a regular driving simulator. TopShop stores include “virtual fitting rooms” which allows its customers to select specific garments and see how they would look wearing those garments on a large screen.
The global Motor Vehicle And Parts Dealers market is primarily driven by rise in disposable income, growing population, and growing ownership of motor vehicles.
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The global Motor Vehicle And Parts Dealers market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With the increase in trends of vehicle ownership by middle class in developing countries like India and Brazil in recent years, the global Motor Vehicle And Parts Dealers market is expected to increase in potential and scope. TBRC’s report also covers the Motor Vehicle And Parts Dealers drivers and restraints in the market.
The global Motor Vehicle And Parts Dealers market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global Motor Vehicle And Parts Dealers market report are AutoNation, CarMax, Group 1, Penske Automotive Group, Sonic Automotive.
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