Companies in this industry sell a variety of used vehicles including passenger cars, light trucks, SUVs, and passenger and cargo vans. Major companies include CarMax, DriveTime, and America's Car-Mart (all based in the US), as well as Nextage and Hanaten (both based in Japan), Cargiant (UK), Porr Equipment Services (Austria), and Automobiles Delec (Canada).
Demand is driven by consumer spending and interest rates. The profitability of individual companies depends on high inventory turnover, exceptional customer service, and effective marketing. Large companies provide a wider variety of vehicles. Small companies can offer a boutique car-buying experience and provide more individualized customer service. The US industry is highly fragmented: the top 50 companies account for about 25% of revenue. About 55% of US used car dealers have fewer than five employees.