Europe Used Car - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)

The Europe Used Car Market size is estimated at USD 62.39 billion in 2025, and is expected to reach USD 76.35 billion by 2030, at a CAGR of 4.12% during the forecast period (2025-2030).

Driven by economic, technological, and consumer preference factors, the used car market in Europe is both dynamic and rapidly evolving. Millions of transactions occur annually, with Germany, the UK, France, Spain, and Italy leading the charge. These nations not only contribute significantly to the market's overall size but also offer a diverse range of vehicles, from budget-friendly options to premium luxury cars. Economic conditions wield considerable influence; during uncertain or recessionary periods, consumers often gravitate towards more affordable used cars over new ones.

Used cars' cost-effectiveness is a primary allure, offering savings not just in purchase price but also in depreciation, insurance, and registration costs. While new cars experience swift depreciation, losing much of their value in the initial years, used cars present a more attractive option for many buyers. Additionally, the rise of certified pre-owned (CPO) programs, ensuring high standards of quality and reliability, has bolstered consumer trust and demand.

Digital platforms and online marketplaces, fueled by technological advancements, have revolutionized the market, simplifying the buying and selling of used cars. These platforms enhance transparency and trust by providing extensive listings, reviews, and vehicle history reports. The growing availability of used electric vehicles (EVs), spurred by government incentives and reduced operating costs, underscores the market's shift towards sustainability.

Yet, challenges persist in the form of quality and reliability concerns, financing hurdles, and regulatory discrepancies across European nations. Nevertheless, the market is being shaped by trends like the surge in online and contactless transactions, the rising popularity of CPO programs, and an overarching focus on sustainability. As technology evolves and consumer preferences shift, Europe's used car market is poised for adaptation and growth, presenting diverse opportunities for both buyers and sellers.

Europe Used Car Market Trends

Online Segment Witnessing Major Growth

Across Europe, the online segment is reshaping how consumers engage in the used car market, becoming a pivotal force in the industry's evolution. This segment includes a myriad of online platforms, marketplaces, and digital channels, streamlining transactions between buyers and sellers. These platforms not only enhance convenience and accessibility but also present a diverse array of options to market participants.

As digital devices increasingly dominate daily activities, from shopping to research, online platforms have emerged as the primary choice for those looking to trade in used cars. This shift has spurred the rise of online marketplaces like AutoScout24, eBay Motors, and Gumtree, each catering to the vast needs of billions across Europe.

Online platforms present a myriad of benefits to both buyers and sellers, fueling their growing prominence in Europe's used car landscape. Buyers enjoy an expansive vehicle selection, comprehensive search filters, and detailed listings-complete with photos, descriptions, and specifications. This empowers them to conduct thorough research and make comparisons, all from the comfort of their homes.

This digital convenience not only saves time but also streamlines the process, allowing buyers to secure the ideal car at a competitive price without the hassle of visiting multiple dealerships or private sellers.

Moreover, the online segment champions cross-border trade, simplifying international transactions. This capability allows used cars to be bought and sold across various European nations, broadening the market's reach. Both buyers and sellers can now explore a wider vehicle selection and seize fresh business growth opportunities. For instance,

In July 2023, STELLANTIS, through its Spoticar division, rolled out online direct sales of pre-owned vehicles in the UK. STELLANTIS kicked off the initiative with over 100 used cars, sourced from its company car scheme and finance partners. The lineup featured models from Peugeot, Citroen, Fiat, and Vauxhall. Shoppers could purchase directly from Stellantis' reconditioning center in Corby via spoticar.co.uk, with delivery arranged at any Spoticar dealership-sans delivery fees. Additionally, the site showcased approved used cars from its dealer network.

Given these dynamics, the used car market is poised for significant growth in the coming years.

Germany Witnessing Major Growth

Germany's used car market is undergoing a notable transformation, driven largely by the surging demand for electric vehicles (EVs). In 2023, while the new-car market faced disruptions, the used-car segment stood resilient. Over 6.03 billion cars changed hands, marking a 6.9% uptick from 2022, underscoring the nation's robust demand for vehicles.

ADAC, Germany's prominent motorist club, highlights that second-hand EVs are becoming "a true alternative" for budget-conscious buyers. This shift is evident in the pricing landscape, with popular EV brands like VW, Tesla, and Hyundai seeing price reductions of 13 to 22 percent in recent months.

Despite a reported decline in supply, the German used car market is witnessing a notable trend of falling prices, as highlighted by Autoscout24, a leading European platform for used car advertising, in November 2023.

The AGPI index reveals that the average price of a used vehicle has dipped by 1 to 27,640 euros from the previous month. While the average price of electric cars saw a modest uptick of 1.2 percent, their demand plummeted by a striking 16% in 2023.

However, this price decline isn't consistent across all vehicle types. Luxury vehicles faced the steepest price drops, signaling shifts in consumer preferences. Moreover, both newer and older vehicles experienced significant price reductions, underscoring the intricate dynamics of the used car market.

Marking the seventh consecutive month of decline since peaking in March 2023, the AGPI index slid from 29,180 Euros to 27,640 Euros, a 5.3% dip in average prices. This persistent downward trend hints at underlying factors shaping supply and demand, leading sellers to adjust pricing strategies and influencing buyers' purchasing choices.

Given these developments, the German used car market is poised for significant growth in the coming years.

Europe Used Car Industry Overview

Europe's Used Car Market is dominated by key players like Lookers Plc, Pendragon PLC, AUTO ONE Group, Autorola Group Holding, and Emil Frey AG. As customer demand surges, both organized and unorganized sectors are seeing an influx of used car dealers. These players are increasingly adopting growth strategies, including expansions and partnerships, to bolster their market presence and revenue. For instance,

• In March 2023, Emil Frey AG partnered with iptiQ, a leading B2B digital insurer, launching a digital insurance solution named Emily Frey Protect, catering to both new and used car buyers.

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