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Report Overview
The Europe used car market size reached around USD 436.80 Billion in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032 to reach nearly USD 638.03 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In April 2024, the demand for second-hand automotives increased by 38.3% in Spain, which has increased the Europe used car market value.
- In April 2024, the number of used vehicle transactions in the UK surged monthly by 9.1%, and recorded consistent growth, surpassing all other countries.
- As per industry reports, 16% of European consumers prefer online distribution channels for purchasing used cars.
Europe Used Car Market Growth
During H1 of FY 2024-25, the demand for used vehicles in Spain rose by 7.5%, which made it Europe’s fastest growing market. This was attributed to the increasing sales of 1-3 years old used cars, which recorded a y-o-y growth of 33.9% in H1 of 2024. As per the market analysis, over 50% of all vehicles sold were diesel-powered, with the sale of battery electric vehicles and plug-in hybrids surging by nearly 60% and 90% respectively. The increasing supply of second-hand automotives in Spain, due to the renewal of fleets by vehicle leasing and rental companies is expected to sustain the Europe used car market expansion over the forecast period.
As per the Society of Motor Manufacturers and Traders, the total number of used car transactions in the United Kingdom surged by 7.2% year-on-year in Q2 of 2024, reaching 1,963,395. In H1 of 2024, the market recorded a 6.8% volume growth in sales, surpassing only France and reaching 3,931,318 units. Moreover, the growing sales of second-hand automotives in the UK, including battery electric vehicles (52.6%), plug-in hybrids (25.2%), and full hybrids (43.6%) has boosted the Europe used car market revenue. While internal combustion engine vehicles accounted for around 92.4% of total transactions, the increasing preference for sustainable and comfortable transportation options is expected to increase the demand for EVs, thereby driving market growth.
Compound Annual Growth Rate
Value in USD Billion
4.3%
2024-2032
Europe Used Car Market Outlook
*this image is indicative*
Key Trends and Developments
Emerging demand for used cars in Italy and France; growth of professional dealerships; and shift towards digital platforms are factors favouring the Europe used car market growth.
Increasing demand for used cars in Italy
In the second quarter of 2024, the total transaction volume for used vehicles surged by 9% in Italy, reaching 1,350,123. The total transaction volume grew year-on-year by 8.7% in H1 of 2024.
Rising sales of used cars in France
In H1 of 2024, the total number of used car transactions in France surged by 3.1% year-on-year, reaching 2,693,450. Around 1,357,084 vehicles were traded during April-June, recording a y-o-y growth of 4.2%. This has also increased the Europe used car market revenue.
Expansion of online distribution channels
Around 10% of used car sales in Europe are expected to take place online by 2025, which will further expand the share of online channels in the market.
Growing preference for professional dealerships
In 2021, nearly 56% of all used cars in Europe were purchased in professional dealerships, while only 44% were acquired in private deals.
Europe Used Car Market Trends
The number of used car transaction in April 2024 surged by 10.4% in France and by 2.7% in May 2024. This indicates the growing preference for cost-effective and stylish automotives among French consumers. Market expansion is also being driven by the increasing shift towards government-certified sustainable vehicles in France, with their demand increasing by 64% in April, 58% in May, and 73% in June 2024.
Europe Used Car Industry Segmentation
The EMR’s report titled “Europe Used Car Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Vehicle Type
- Hatchbacks
- Sedan
- Sports Utility Vehicle (SUV)
- Others
Breakup by Fuel Type
- Diesel
- Petrol
- Electric
- Others
Breakup by Vendor Type
- Organised
- Unorganised
Breakup by Application
- Offline
- Online
Breakup by Country
- Germany
- United Kingdom
- France
- Italy
- Others
Europe Used Car Market Share
Based on country, the market is segmented into Germany, the United Kingdom, France, and Italy, among others. Germany is projected to dominate the market, representing 21.4% of the overall market share. Over the forecast period, the Europe used car market outlook is being influenced by the growing demand for used cars in Germany, which is expected to grow at a CAGR of 4.9% due to the robust presence of professional dealerships on digital platforms in the country.
Leading Companies in the Europe Used Car Market
Major players are introducing different SUV models on their digital platforms, which is accelerating their Europe used car market share.
Arnold Clark Automobiles Limited
Arnold Clark Automobiles Limited was founded in 1954 and is headquartered in Glasgow, United Kingdom. It is Europe’s biggest independent motor dealer, which also provides vehicle servicing and rental services to its customers.
Auto Empire Trading GmbH
Auto Empire Trading GmbH was founded in 2005 and is headquartered in Hessen, Germany. It sells a wide range of...
AVAG Holding SE
AVAG Holding SE was founded in 1991 and is headquartered in Augsburg Germany. As per Europe used car market an...
DAT AUTOHUS AG
DAT AUTOHUS AG was founded in 1996 and is headquartered in Niedersachsen, Germany. It is one of the leading pr...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the Europe used car market report are Emil Frey AG, Gottfried Schultz Automobilhandels SE, Lookers Motor Group Limited, Pendragon Plc, Penske Automotive Group, and WELLER Holding SE & Co. KG, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 436.80 Billion.
The market is projected to grow at a CAGR of 4.30% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 638.03 Billion by 2032.
The different countries considered in the Europe used car market report include Germany, the United Kingdom, France, and Italy, among others.
The different types of vehicles in the market are hatchbacks, sedans, and SUVs, among others.
The different vehicles based on fuel type include diesel, petrol, and electric, among others.
The different sales channels in the market are online and offline.
Key players in the market are Arnold Clark Automobiles Limited, Auto Empire Trading GmbH, AVAG Holding SE, DAT AUTOHUS AG, Emil Frey AG, Gottfried Schultz Automobilhandels SE, Lookers Motor Group Limited, Pendragon Plc, Penske Automotive Group, and WELLER Holding SE & Co. KG, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Vehicle Type |
|
| Breakup by Fuel Type |
|
| Breakup by Vendor Type |
|
| Breakup by Sales Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
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