Europe Used Car Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The Europe used car market size reached around USD 455.58 Billion in 2024. The market is projected to grow at a CAGR of 4.30% between 2025 and 2034 to reach nearly USD 694.08 Billion by 2034.

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.

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.

February 2024

US automotive dealer Lithia & Driveway successfully completed the acquisition of UK-based Pendragon Plc’s automotive dealership and leasing division for 397 million pounds.

March 2023

The European Union decided to ban the sale of diesel/petrol cars from 2035 to transition towards clean mobility solutions and achieve net zero emissions. This is expected to favourably shape the Europe used car market dynamics over the forecast period.

December 2021

United Kingdom’s leading digital retailer for second-hand automotives known as Cazoo got launched in France and Germany. This provided consumers with a wide range of used car options and still ensures a fair and transparent purchase experience.

October 2020

Cazoo received USD 310 million in funding to develop its digital infrastructure and expand its market presence in the United Kingdom. This resulted in growth of digital car dealerships in the country and hence, in the Europe used car market development.

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 report titled “Europe Used Car Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Vehicle Type:

• Hatchbacks
• Sedan
• Sports Utility Vehicle (SUV)
• Others

Market Breakup by Fuel Type:

• Diesel
• Petrol
• Electric
• Others

Market Breakup by Vendor Type:

• Organised
• Unorganised

Market Breakup by Application:

• Offline
• Online

Market 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 employees cars from brands such as BMW, Skoda, Mercedes, and Audi, among others.

AVAG Holding SE

AVAG Holding SE was founded in 1991 and is headquartered in Augsburg Germany. As per Europe used car market analysis, it is amongst Europe’s leading car dealership firms with a significant presence in Austria, Croatia, Poland, Slovenia, and Hungary.

DAT AUTOHUS AG

DAT AUTOHUS AG was founded in 1996 and is headquartered in Niedersachsen, Germany. It is one of the leading professional remarketers of used vehicles in Europe.

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.