Used Car Market Analysis

Vehicle (Hatchback, Sedan, SUV)

In terms of vehicle type, the used cars market is predicted to be dominated by the SUV segment by the end of 2037. It is poised to capture the largest share of 36.6% during the forecast period. The fuel efficiency of these models makes them a budget-friendly option for families, thereby increasing their demand in the pre-owned industry. The potential of holding its value makes it a beneficial option for the reselling process. SUVs are preferred for urban areas due to their practicality and diverse driving capability. This further boosts the demand for this category. According to an article published by The Times of India, in October 2024, the sale of used SUVs spiked by 49% during the festive season.

Fuel (Gasoline, Diesel, Hybrid, Electric)

Based on fuel type, the used cars market is predicted to register significant growth in the electric vehicle segment. The sale of used EVs gained traction due to growing awareness of environmental issues. The effectiveness of electric cars in reducing carbon emissions has inspired companies to invest in managing their footprint. In May 2023, Arnold invested USD 25.0 million to strengthen the EV charging network across the UK. The outlay of Arnold Clark Charge encompassed the installation of over 500 charging stations. Such investments are clear evidence of the company’s plan to expand its pre-owned portfolio. This further empowers the adoption of used EVs by contributing to infrastructure development.

Our in-depth analysis of the market includes the following segments:

Vehicle	Hatchback Sedan SUV Others
Fuel	Gasoline Diesel Hybrid Electric Others
Sales Channel	Peer-to-peer Franchised Dealers Independent Dealers
End use	Personal Commercial

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the used cars market was over USD 2617.5 billion.

The market size for the used cars market is projected to reach USD 4542 billion by the end of 2037 expanding at a CAGR of 4.7% during the forecast period i.e., between 2025-2037.

The major players in the market are Alphartis Deutschland, AMAG Schweiz, Autotorino Italien, AVAG Holding Deutschland, Avemo Deutschland, Bernard Frankreich, Bertel O. Steen Norwegen, Bilia Schweden, BPM Frankreich, Emil Frey Group, and others.

In terms of vehicles, the SUV segment is anticipated to garner the largest market share of 36.6% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Europe is projected to hold the largest market share of 30.7% by the end of 2037 and provide more business opportunities in the future.

Used Car Market Analysis