According to SPER Market Research, The Used cars are those that have previously been owned and driven by one or more previous owners. These vehicles may have been traded in, sold, or otherwise transferred to a dealer or private party, who resells them to another owner. Used cars vary in age, mileage, condition, and price, and they can include cars, trucks, SUVs, and other types of vehicles. Some people prefer to buy used cars because they are less expensive than new cars and, if well-maintained and in good condition, can often be a good value.
France Used Cars Market Overview:
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
The used automobile industry in France is at a late growth stage, with a single-digit CAGR in terms of sales volume. It is straightforward and simple for customers and offers a pleasant experience to used car buyers thanks to factors like greater online penetration by dealership companies and the availability of financing and insurance choices. The used automobile market has expanded in France in terms of sales volume thanks to a switch from a traditional sales channel to an online one, a rise in demand for younger used cars, and other factors.
Due to an increase in the number of dealerships and greater lead generation through online portals, it is projected that France’s GTV and sales volume would rise at a positive CAGR in the years to come. The expansion of this sector is facilitated by the recent entry of new players into the French used car market. Additionally, the availability of finance and insurance alternatives makes it comfortable and straightforward for the clients and also offers a pleasurable experience to used car buyers. The implementation of legislation and other government programs, such as low emission zones, could have a little detrimental effect on the used automobile market. But in the coming years, the market for used cars will also rise as a result of the simplification of the used car buying process.
One of the primary causes, which favorably affects market demand, is increased investment in the electric sector. Significant traction in terms of volume sales is anticipated now that there is a supply chain network for used cars on the market. Also, a big change in people’s transportation preferences, including choosing independent mobility with their own vehicle, is anticipated to propel a significant expansion of the market.
The medium-term rise of the market is anticipated to be aided by elements like rising income levels, greater demand for luxury automobiles, shorter car ownership durations, strong import-export activity, and a growing customer preference for small and compact vehicles. The market for used cars in France is growing quickly. This is also partly due to the arrival of organized players into the market, which has addressed the trust issue that has long plagued the used automobile industry in those nations.
Impact of COVID-19 on the France Used Cars Market:
The demand for used automobiles experienced a standstill in sales for the first half of the time during the COVID-19 pandemic-related lockdown. The demand for old cars began to increase, nevertheless, and it continued the next year. Many consumers nationwide are choosing used cars due to the lengthy wait times for new cars, which is predicted to fuel market expansion during the projected period.
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France Used Cars Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Aramisauto, Autoscout24, Auto-selection, Bernard Automobiles, BymyCAR, Car Avenue, Emil Frey France, Geudet, Jean Rouyer Automobiles, La Centrale, Leboncoin, Maurin, Paru Vendu.
France Used Cars Market Segmentation:
By Market Structure: Based on the Market Structure, France Used Cars Market is segmented as; Organized Sector (Multi-brand Dealers, OEM-certified Dealers), Unorganized Sector (C2C, Local Dealerships, Online Sales).
By Type of Used Car: Based on the Type of Used Car, France Used Cars Market is segmented as; Economy, Hatchback, MPVs, Sedan, SUVs.
By Fuel Type: Based on the Fuel Type, France Used Cars Market is segmented as; Diesel, Electric, Petrol, Others.
By Kilometers Driven: Based on the Kilometers Driven, France Used Cars Market is segmented as; Less than 5,000 km, 5,000-20,000 km, 20,000-50,000 km, 50,000-80,000 km, 80,000-120,000 km, above 120,000 km.
By Ownership Period: Based on the Ownership Period, France Used Cars Market is segmented as; <6 years, 6 to 10 years, 11 to 15 years, >16 years.
By Car Brand: Based on the Car Brand, France Used Cars Market is segmented as; Audi, BMW, Citroen, Ford, Mercedes, Nissan, Opel, Peugeot, Renault, Volkswagen, Others.
By Region: This report also provides the data for key regional segments of Eastern Region, Northern Region, Southern Region, Western Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
