European Used Car Growth Opportunities

European Used Car Growth Opportunities

Value-add Services Emerge as Purchase Drivers to Combat the High Prices of Used Cars

RELEASE DATE
30-Jun-2022
REGION
Europe
Research Code: PC8D-01-00-00-00
SKU: AU02347-EU-MT_26617
$4,950.00
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Description

After facing a challenging period in 2020, with isolation measures and economic difficulties due to the COVID-19 pandemic, Europe has started getting back to normal. However, although vaccination rates have advanced, some markets are still in crisis. The automotive market, for example, has not recovered to usual levels of new car sales. Global microchip shortages and the current war between Russia and Ukraine have affected car production and stimulated the second-hand car market. The rising demand also impacted the average price of used cars, which increased in 2021 in Europe. In 2021, 32.7 million second-hand cars were sold in Europe (considering the 11 countries in the scope of the study), and 3 countries (the United Kingdom, Germany, and France) accounted for 61.2% of the sales.

In western Europe, digital transactions are expected to increase, including for used car sales. In eastern Europe, the need for trustworthy technical car inspection companies is expected to drive market growth. This Frost & Sullivan research service provides a comprehensive outlook of the used car market in Europe and offers meaningful insight for automotive companies wishing to explore this unique and competitive market.

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Used Car Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Regional Segmentation

Key Competitors

Growth Metrics

Growth Drivers

Growth Restraints

Forecast Assumptions

Used Car Sales Forecast

Used Car Sales Forecast by Region

Used Car Sales Forecast by Country

Sales Forecast Analysis

Sales Forecast Analysis by Region

Pricing Trends and Forecast Analysis

Competitive Environment

Trends

The Impact of Legislation on the Used Car Market

 Value Chain Analysis

Online Used Car Market

Macroeconomic Indicators

Key Online Platforms—AUTO1 Group

Key Online Platforms—AutoScout24

Key Online Platforms—Cazoo

Key Online Platforms—Reezocar

Key Online Platforms—Carvago

Key Used Car Dealers—Arnold Clark

Key Used Car Dealers—Lookers

Key Used Car Dealers—Louwman Group

Key OEM Certified Pre-owned (CPO) Programs

Key OEM CPO Program—Renault

Key OEM CPO Program—Renault (continued)

Key OEM CPO Program—Volkswagen

Key OEM CPO Program—Volkswagen (continued)

Key OEM CPO Program—Volkswagen (continued)

Key OEM CPO Program—Ford

Key OEM CPO Program—Ford (continued)

Key OEM CPO Program—Peugeot, Citroen, and Opel

Key OEM CPO Program—Peugeot, Citroen, and Opel (continued)

Key OEM CPO Program—Peugeot, Citroen, and Opel (continued)

Growth Metrics—Western Europe

Used Car Sales Forecast—Western Europe

Used Car Sales Forecast by Country—Western Europe

Forecast Analysis—Western Europe

Market Characteristics—United Kingdom  

Market Characteristics—United Kingdom (continued)

Market Characteristics—United Kingdom (continued)

Market Characteristics—Germany

Market Characteristics—Germany (continued)

Market Characteristics—Germany (continued)

Market Characteristics—France

Market Characteristics—France (continued)

Market Characteristics—France (continued)

Market Characteristics—Italy

Market Characteristics—Italy (continued)

Market Characteristics—Italy (continued)

Market Characteristics—Spain

Market Characteristics—Spain (continued)

Market Characteristics—Spain (continued)

Market Characteristics—Netherlands

Market Characteristics—Netherlands (continued)

Market Characteristics—Netherlands (continued)

Market Characteristics—Belgium

Market Characteristics—Belgium (continued)

Market Characteristics—Belgium (continued)

Growth Metrics—Eastern Europe

Used Car Sales Forecast—Eastern Europe

Used Car Sales Forecast by Country—Eastern Europe

Forecast Analysis—Eastern Europe

Market Characteristics—Poland

Market Characteristics—Poland (continued)

Market Characteristics—Poland (continued)

Market Characteristics—Hungary

Market Characteristics—Hungary (continued)

Market Characteristics—Hungary (continued)

Market Characteristics—Czech Republic

Market Characteristics—Czech Republic (continued)

Market Characteristics—Czech Republic (continued)

Market Characteristics—Slovakia

Market Characteristics—Slovakia (continued)

Market Characteristics—Slovakia (continued)

Growth Opportunity 1—Selling Valued-added Services for Late-model Used Vehicles

Growth Opportunity 1—Selling Valued-added Services for Late-model Used Vehicles (continued)

Growth Opportunity 2—Online Transactional Business Model for Used Cars Sales

Growth Opportunity 2—Online Transactional Business Model for Used Cars Sales (continued)

Growth Opportunity 3—Trustworthy Technical Car Inspection Companies for Eastern European Customers

Growth Opportunity 3—Trustworthy Technical Car Inspection Companies for Eastern European Customers (continued)

Your Next Steps

Why Frost, Why Now?

Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

After facing a challenging period in 2020, with isolation measures and economic difficulties due to the COVID-19 pandemic, Europe has started getting back to normal. However, although vaccination rates have advanced, some markets are still in crisis. The automotive market, for example, has not recovered to usual levels of new car sales. Global microchip shortages and the current war between Russia and Ukraine have affected car production and stimulated the second-hand car market. The rising demand also impacted the average price of used cars, which increased in 2021 in Europe. In 2021, 32.7 million second-hand cars were sold in Europe (considering the 11 countries in the scope of the study), and 3 countries (the United Kingdom, Germany, and France) accounted for 61.2% of the sales. In western Europe, digital transactions are expected to increase, including for used car sales. In eastern Europe, the need for trustworthy technical car inspection companies is expected to drive market growth. This Frost & Sullivan research service provides a comprehensive outlook of the used car market in Europe and offers meaningful insight for automotive companies wishing to explore this unique and competitive market.
More Information
Author Ingrid Schumann
Industries Automotive
No Index No
Is Prebook No
Podcast No
WIP Number PC8D-01-00-00-00