Market Share of Spain Used Car Industry
The Spanish used car market is moderately fragmented as it accommodates several regional and domestic players. Several players, especially the online used car platform dealers and new entrants, along with established players in the market, are focusing on various growth strategies, such as expansion, collaborative agreements, mergers, and acquisitions, to expand their customer base. For instance,
- In November 2023, the Madrid-based startup Cüimo secured EUR 900,000 (USD 969,525) in funding led by the Encomenda investment fund to accelerate its growth as the premier digital platform for second-hand vehicle transactions in Spain. Cüimo operates as a digital marketplace facilitating seamless online buying and selling experiences.
- In January 2022, Cazoo announced that it had acquired Brum Brum, a leading used car retail and subscription player, for EUR 80 million (USD 90.76 million) in a mix of cash and Cazoo shares. Through this deal, Cazoo is expected to have a strong presence across each of the five largest European markets for used cars (France, Germany, Spain, Italy, and the United Kingdom).
- In May 2022, Cazoo officially launched its used car business in Spain, following its expansion into France and Germany late in 2021. As part of its expansion into Spain, in November 2021, the group bought Barcelona-based car subscription service Swipcar for EUR 30 million (USD 31.52 million).
Spain Used Car Market Leaders
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Webycar
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VIVA AUTOS COSTA BLANCA SL
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OcasionPlus
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Autotrader Spain
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OOYYO
*Disclaimer: Major Players sorted in no particular order
