Market Overview

The Europe used car market was valued at USD 62.5 Billion in 2024 and is projected to reach USD 93.5 Billion by 2033. The market is expected to grow at a CAGR of 4.11% during the forecast period of 2025-2033. Growth is driven by rising demand for affordable vehicle ownership, increased online sales platforms adoption, certified pre-owned availability, supply chain disruptions in new car production, and a focus on sustainability across the region.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Europe Used Car Market Key Takeaways

• The Europe used car market was valued at USD 62.5 Billion in 2024.
• The market is forecast to grow at a CAGR of 4.11% over 2025-2033.
• The market size is expected to reach USD 93.5 Billion by 2033.
• Consumer demand for affordable mobility solutions is increasing amidst economic challenges.
• Certified pre-owned programs enhance consumer trust with warranties and thorough inspections.
• Supply chain challenges in new car production have shifted demand to used cars.
• Technological advancements in online platforms make used car transactions more accessible and transparent.

Sample Request Link: https://www.imarcgroup.com/Europe-Used-Car-Market/requestsample

Market Growth Factors

The Europe used car market is expanding due to increasing consumer demand for affordable vehicle ownership, driven by economic challenges like inflation and rising living costs. The European Union's consumer price index rose to 2.3% in October from 2.1% in September 2024, reflecting financial pressures encouraging buyers to opt for used vehicles as cost-effective alternatives to new cars. Certified pre-owned programs offering warranties and vehicle inspections have further boosted consumer confidence and market activity.

Supply chain disruptions have caused a decline in new car production, shifting the demand towards the used car segment. This supply shortage in new vehicles along with growing sustainability concerns is expanding the market across Europe. The adoption of digital sales platforms streamlines buying by providing price comparisons, detailed vehicle histories, and financing options, enhancing customer satisfaction and transaction transparency.

Sustainability also plays a major role in market growth with consumers increasingly valuing the environmental benefits of extending vehicle lifespans through used cars. Government policies and incentives favoring low-emission vehicles further support market expansion. Examples include the European Parliament's legislation passed in April 2024 to reduce heavy-duty vehicle CO2 emissions and the rising availability of certified pre-owned low-emission vehicles with warranties. This combination of economic, technological, and environmental factors is strongly positioning the used car market as a key mobility driver in Europe.

Market Segmentation

By Vehicle Type:

• Hatchbacks: Valued for compact design, fuel efficiency, and versatility, hatchbacks are popular among urban buyers and small families. Certified pre-owned hatchbacks with enhanced safety and technology further drive demand.
• Sedan: Preferred for comfort, style, and driving experience. Sedans cater to individuals and families seeking premium features, with strong presence in urban/suburban areas.
• Sports Utility Vehicle (SUV): Fast-growing segment favored for robustness, spacious interiors, off-road capabilities, and versatility. Increasing demand for compact and crossover SUVs boosts growth.

By Vendor Type:

• Organized: Includes certified pre-owned programs, dealership networks, and online platforms offering verified histories, warranties, and quality assurance. These professional vendors gain market share through customer satisfaction and financing options.
• Unorganized: Comprises private sellers, small-scale dealers, and informal networks with lower prices but limited guarantees and transparency. Serves cost-conscious buyers especially in rural areas.

By Fuel Type:

• Gasoline: Dominates due to availability, lower initial cost, smoother performance, and lower emissions compared to diesel. Growing demand amid diesel restrictions in some regions.
• Diesel: Valued for fuel efficiency and durability, preferred for long-distance and heavy usage. Facing challenges from emission regulations but still strong in rural/suburban markets.

By Sales Channel:

• Online: Rapidly growing with convenience, transparency, wide vehicle range, financing options, home delivery, and AI-driven features enhancing customer experience.
• Offline: Encompasses traditional dealerships, auctions, and private sellers. Preferred for immediate transactions, personal evaluation, test drives, and face-to-face negotiation. Important in regions with limited digital penetration.

Regional Insights

Germany is the dominant region in the Europe used car market. Driven by a robust automotive industry and high vehicle turnover, German consumers prefer high-quality, fuel-efficient pre-owned vehicles with advanced features. Certified dealerships and online platforms enhance market transparency. Prominent brands like BMW, Mercedes-Benz, and Volkswagen bolster demand. Germany's strong used car export market and growing digital adoption consolidate its leadership position in Europe.

Recent Developments & News

In April 2024, Monaco-Occasions hosted their first Special Days event at the Grimaldi Forum, showcasing high-end pre-owned cars from Ferrari, Bentley, and Rolls-Royce. This event aimed to provide customers exclusive access to premium vehicles, tailored deals, and exceptional services in a prestigious environment. Additionally, in November 2024, AUTO1 Group SE inaugurated its 500th drop-off branch in Jena, Germany, expanding its C2B Buying brand presence across nine countries. In October 2024, AUTO1 launched an AUTO1 financing solution in Belgium and the Netherlands to facilitate dealer vehicle acquisitions with rapid financing and digital ease.

Key Players

• Lookers Plc
• Emil Frey AG
• Autorola Group Holding
• Pendragon Plc
• AUTO1.com
• AMAG Automobil und Motoren AG
• Bernard
• Chopard
• Lallier
• Cosmobilis/BymyCar
• Eden Auto
• Gueudet
• Van Mossel
• Yutong

Customization Note:

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.