France Used Cars Market Outlook to 2027

France Used Cars Market Outlook to 2027

France used car market was valued at USD ~ Billion in 2021, and it is expected to reach a value of USD ~ billion by 2027, registering a CAGR of ~% during the forecast period (2022 - 2027). Amid the COVID-19 pandemic-associated lockdown, the demand for used cars witnessed a halt in sales for the first half of the year 2020. However, since the second half of the year 2020, the demand for used vehicles started to pick the pace and continued until 2021. The prolonged waiting period for new vehicles encouraging a large number of customers across the country to opt for used vehicles, which is likely to drive the market growth during the forecast period.

Over the medium term, factors such as rising income levels, increased demand for luxury vehicles, shorter car ownership periods, brisk import-export activity, and a growing consumer preference for small and compact vehicles are expected to contribute to the market's expansion of France used car market. Some of the other reason for this rapid growth is the entry of organized players into the market, which has addressed the trust deficit that has plagued the used car market for many years.

France used car market is at a late growth stage along with single-digit CAGR in terms of sales volume during the year 2018.

Amid the COVID-19 pandemic-associated lockdown, the demand for used cars witnessed a halt in sales for the first half of the year 2020. However, since the second half of the year 2020, the demand for used vehicles started to pick the pace and continued until 2021

In 2021, more than six million cars have changed hands in a single year.

The prolonged waiting period for new vehicles encouraging a large number of customers across the country to opt for used vehicles, which is likely to drive the market growth during the forecast period.

Key Trends by Market Segment

By Type of Used Car (MPVs / Sedan, Economy / Hatchbacks and SUVs): Sedans have the highest market share followed by SUV and Hatchback in the year 2018. This is due to Sedans offer better space, practicality and in some cars, a better resale value.

By Market Structure (Organized and Unorganized Market): The unorganized used car market is leading in France owing to the ease of buying and selling processes involved in the used car market. It has been observed that the major transactions happen between private sellers or individuals in the country.

Competitive Landscape

France used car market was observed to be highly fragmented along with the presence of multiple outlets of the dealerships in the used car space. Gueudet, BYmyCAR, Bernard Automobiles, Car Avenue and many others are few major companies in the online and offline used car market. These market players compete on the basis of a number of networks, marketing initiatives, certification, margins, price, after-sales, lead generation, warranty types, brand partnerships and a number of dealers associated with the dealer group.

Future Outlook

The France Used Car market is forecasted to continue exponential growth after the outbreak of COVID-19 pandemic worldwide. One of the main trends driving market expansion is the need for a personal automobile by people, particularly in the aftermath of the covid-19 pandemic's spread across countries. Though the market is fragmented competitive with a few niche players control the dominant share.

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