Please Wait.....
Report
Europe Used Car - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 100 Pages I Mordor Intelligence
Europe's used car market was valued at USD 60.02 billion in the current year, and it is expected to grow to a value of USD 85.14 billion in the coming five years, registering a CAGR of 4.12% in terms of revenue during the forecast period.
Over the medium term, rising demand for affordable used cars owing to their low price and better conditions across the region is likely to witness major growth in the market. The rapid expansion of online used car companies, rising used car dealerships, and availability of used car financing and insurance options resulted in major growth for the market.
The rapid development of internet-based ride-hailing services has contributed to transportation in cities and, at the same time, has significantly impacted existing travel modes in cities. Ride-hailing services significantly use used cars for their services, which in turn is anticipated to witness major growth in the market.
The rise in income levels, increasing demand for luxury cars, shorter car ownership periods, booming import-export, and a growing preference for two-wheeler owners to upgrade to small and compact cars also drive the growth of the market.
Europe Used Car Market Trends
Online Infrastructure witnessing major growth
The used car market is getting more organized because used car retailers are using digitalization to make market offerings attractive. Facilities such as an enormous number of photos and videos on the online platform and easy online instant finance service are drawing more customers into buying used cars.
Tech-savvy customers in the age group of 25-40 years are demanding features such as end-to-end transactions, doorstep delivery, a digitalized recommendation based on the driving behavior and lifestyle of the customer, and digitalized test drives. Players in the market are providing flawless and smooth access to car specifications, performance reports, and inventory information to customers to assist them in making informed decisions.
Blockchain technology has already brought about a wide variety of developments in various sectors, and the car financing sector seems to be next. For instance, In 2021, Auto1 FT, the leading financial partner of the automotive industry, is eliminating all manual input and paper processes in its core business, car financing.
OEMs and online platforms have brought a new level of clarity to the highly unorganized activity of buying and selling used cars. Online sales are becoming popular among the young generation as they offer a smooth journey and offer the best price to buy. Online stores offer a wide range of product categories and allow customers to purchase goods.
In addition, the COVID-19 pandemic changed consumer behavior and accelerated the trend toward online purchases, which is likely to witness major growth for the market across the region. Such trends in the market indicate active online penetration and, hence, simultaneous developments across the used car market in Europe.
Germany Witnessing Major Growth
Germany is witnessing major growth in the used car market in terms of revenue owing to a fall in new car sales due to the ban on diesel and petrol cars. The government of Germany is planning to entirely ban diesel and petrol cars in the country by 2030, which has led to falling new car sales and older used cars. Rising penetration between multi-brand dealerships and OEM-certified dealerships across the country helps to boost the market during the forecast period.
Growing adoption of car financing and insurance options at used car dealerships in Europe will lead to significant growth in the market. The rise in demand for sports utility vehicles across Germany is likely to see growth in the future.
The growing popularity of sourcing channels across Germany, like buy-sell, park-sell, and trade-in, is witnessing major growth in the market. The buy-sell model is gaining popularity. In this model, the used car dealer buys the used cars from the seller and stores them in its inventory, later sold to the buyers of the used car. This is likely to witness an increase in the number of dealerships adopting the buy-sell model entirely for sourcing used cars at their dealerships.
Several used car industries are introducing new marketplaces, including B2B or B2C, Traditional Brics and Clicks marketplace, Broker Marketplace, Online car retailers, and many others. Such marketplaces serve as a platform connecting sellers and buyers, where both interact directly to complete the transaction. Traditional Brics and Clicks are essentially the online sales channel of traditional car dealers, car rental companies, and car leasing companies, which sell both new and used cars.
The above-mentioned development across the country is likely to witness major growth for the market during the forecast period.
Europe Used Car Industry Overview
Several key players, including Lookers Plc, Pendragon PLC, AUTO ONE Group, Autorola Group Holding, Emil Frey AG, and others, dominate Europe's Used Car Market. The used car market is anticipated to witness a large number of used car dealers in both the organized and unorganized industries, owing to the growing demand for customers. Rising adoption of various growth strategies, such as expansion, partnerships, etc., to improve their presence and revenue shares in the market. For instance,
In June 2022, TrueCar Inc. acquired Digital Motors. This acquisition is intended to accelerate TrueCar's plan to deliver a robust digital car buying and selling experience with its TrueCar+ marketplace.
In May 2022, Renault sold its majority stake in the Russian car brand Lada. The company has sold its 68 percent in AvtoVaz, Lada's parent company, for one rouble.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size in Value - USD)
5.1 Vehicle Type
5.1.1 Hatchback
5.1.2 Sedan
5.1.3 Sports Utility Vehicle
5.1.4 Multi-purpose Vehicle
5.2 Vendor Type
5.2.1 Organized
5.2.2 Unorganized
5.3 Fuel Type
5.3.1 Gasoline
5.3.2 Diesel
5.3.3 Electric
5.3.4 Other Fuel Types (LPG, CNG, etc.)
5.4 Country
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 France
5.4.4 Italy
5.4.5 Spain
5.4.6 Russia
5.4.7 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Auto One Group
6.2.2 Pendragon Plc
6.2.3 Autorola Group Holding
6.2.4 Lookers Plc
6.2.5 Emil Frey AG
6.2.6 Penske Automotive Group
6.2.7 Gottfried-schultz
6.2.8 wellergruppe
6.2.9 AVAG Holding
6.2.10 Fahrzeug -werke LUEG AG
6.2.11 Auto Empire Trading GmbH
6.2.12 Arnold Clark Automobiles Limited
7 Market Opportunities and Future Trends
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security