France Used Car Market Size (2024 - 2029)

France Used Car Market Analysis

The France Used Car Market size is estimated at USD 113.98 billion in 2024, and is expected to reach USD 149.11 billion by 2029, growing at a CAGR of 5.52% during the forecast period (2024-2029).

Factors such as rising income levels, increased demand for secondhand luxury vehicles, shorter car ownership periods, and rising new car prices are expected to be significant determinants for the growth of the French used car market. Moreover, the emergence of various online platforms that sell and purchase used cars further impacts the demand for pre-owned vehicles across France.

• The consumer price index of new and secondhand cars in France touched 112.84 in January 2024 compared to 112.44 in December 2023, representing an MoM growth of 0.3% between December 2023 and January 2024.

In recent years, original equipment manufacturers (OEMs) have actively strategized to enhance their certified pre-owned car business in France, positively contributing to the market's growth. However, an increasing influx of unorganized dealers in the market hampers product quality. Since these players do not have a standard operating procedure for thoroughly inspecting cars, various lower-quality cars are circulated in the market.

The government's aggressive strategy to promote the electrification of vehicle fleets and ban of petrol/diesel cars to promote the reduction in carbon emissions will aid the demand for used vehicles across France during the forecast period. Consumers willing to purchase cheaper alternatives to new-energy vehicles are increasingly adopting used cars for convenience and mobility.

The French government committed to phasing out petrol and diesel cars from the country's roads by 2040 to promote the adoption of electric vehicles and reduction in carbon emissions. Even with the aggressive stance of the French government to encourage the adoption of EVs, the higher cost of electric cars adds to the financial burden of the consumer, attributed to its high battery cost, thereby making consumers opt for used cars in the coming years.

France Used Car Industry Segmentation

A used car/pre-owned vehicle is a vehicle that previously had one or more retail owners. A certified pre-owned (CPO) vehicle, on the other hand, is a pre-owned vehicle that has been extensively inspected (pre-purchase inspection) and expertly reconditioned. The used car market consists of a wide range of companies involved in purchasing and selling pre-owned vehicles through online or offline sales channels.

The French used car market is segmented by vehicle type, vendor type, fuel type, and sales channel. By vehicle type, the market is segmented into hatchbacks, sedans, sports utility vehicles (SUVs), and multi-purpose vehicles (MPVs). By vendor type, the market is segmented into organized and unorganized. By fuel type, the market is segmented into petrol, diesel, electric, and other fuel types (liquefied petroleum gas, compressed natural gas, etc.). By sales channel, the market is segmented into online and offline.

The report offers market size and forecasts for used cars in value (USD) for all the above segments.