France Used Car Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 113.98 Billion |
| Market Size (2029) | USD 149.11 Billion |
| CAGR (2024 - 2029) | 5.52 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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 Market Trends
The Online Segment of the Market to Gain Traction During the Forecast Period
The adoption of advanced technology by tech-savvy young individuals, the emergence of e-commerce marketplaces, and the aggressive strategies by various companies to spend on online advertisements are boosting the demand for used cars sold through online platforms. These platforms assist consumers in making informed decisions as end-to-end information on vehicles is already listed, such as vehicle make, model, kilometers driven, engine capacity, and condition.
Moreover, increasing internet penetration rates and a high urban population across France contribute to developing an efficient ecosystem wherein vehicle owners can reach out to buyers from different parts of a region and initiate a smooth online sales process without any need to visit a physical location.
The internet penetration rate in France stood at 85.33% in 2022, an increase from 84.71% in 2020. France boasts one of the highest urbanization rates in Europe, with 81.51% of its population residing in urban areas as of 2022. These consumers are tech-savvy, and most have the financial capability to make an informed decision to purchase a vehicle for their mobility. Owing to these factors, France's online used car market is expected to showcase positive growth in the future.
Although France's public transportation infrastructure is highly efficient, consumers in the country prefer private vehicles for shorter commutes, which enhances the potential for personal mobility, thereby assisting the growth of the used car market.
In order to gain a competitive advantage in the lucrative online used car market, various players across France actively integrate into the cross-border sales opportunity with a high focus on marketing. With the increasing internet penetration and usage of online classified platforms for making purchasing decisions, consumers can buy second-hand cars from their neighboring countries, which helps them get a better price for used car models.
Furthermore, improved offerings such as an enormous number of photos and videos of the used vehicles being sold through online platforms and easy online instant finance, insurance, and warranty service are expected to fuel the demand for used cars in France in the coming years.
Electric Segment of the Market to Showcase Considerable Growth During the Forecast Period
The increased investment to build electric vehicle charging infrastructure across France is one of the critical reasons for the positive impact on market demand. With the availability of a supply chain network for electric used cars in the market, significant traction in terms of volume sales is expected. Furthermore, an essential shift in people's transportation habits, such as opting for a sustainable transportation medium, is likely to contribute to the considerable surge in the electric used car segment.
The used battery electric vehicles (BEVs) in the French market in October 2023 witnessed a marginal increase in registrations, owing to the lower list prices of these vehicles, compared to September 2023. Moreover, the BEV segment is witnessing growth due to the integration of Tesla 3 models across France. The market witnessed a decline in used plug-in-hybrid car registrations in October 2023 compared to September 2023, attributed to the declining consumer interest in adopting this technology.
Moreover, the aggressive focus of the French government to promote the reduction in carbon emissions and the subsequent ban on petrol and diesel vehicles by 2040 will also positively impact the demand for the electric segment of the market. Although the French market witnessed an increase in new as well as pre-owned car prices at the beginning of 2024, it is expected to correct itself in the coming years. For instance,
- The consumer price index (CPI) of secondhand and new cars in France touched 112.84 in January 2024 compared to 112.44 in December 2023, representing a MoM growth of 0.3% between December 2023 and January 2024.
However, in the short term, petrol-operated used cars will cease to remain the popular choice among consumers. With the lowering price of electric used cars in the coming years and improvements in the charging infrastructure across France, there will be a massive demand for the electric segment of the market during the forecast period.
France Used Car Industry Overview
The French used car market is fragmented and highly competitive, with various used car dealerships and online used car platforms operating nationwide. Some of the major players include Hellman and Friedman LLC (AutoScout24), Leboncoin, Aramis Group, ParuVendu, La Centrale, and HeyCar. These players compete based on various parameters such as used car prices, online presence, value-added offerings such as warranty and financing options, commissions charged, number of listings on their platform, and ready information on the performance of used vehicles, among other parameters. Various companies operating in the ecosystem are actively engaging in enhancing their brand presence to expand their business capability across France.
- In December 2023, Reezocar, an online used car marketplace based in France, announced its plan to integrate machine-learning solutions as part of Amazon Web Services. This initiative plans to provide comprehensive insights into vehicle conditions to used car buyers to ensure that these consumers get a fair product price. Furthermore, the company stated that the the machine-learning solutions will be powered by NVIDIA GPU architecture to assist in detecting car dents.
- In November 2023, Zeekr, an electric vehicle brand based out of China, announced its partnership with BNP Personal Finance and Arval to offer electric car insurance and financing services to customers across Europe, including customers from France. Although the partnership will first be operational in countries such as the Netherlands and Sweden, the service will eventually be operational in other regions of Europe, including France.
The market is anticipated to witness several used car brands investing hefty sums to enhance their digital platform to attract consumers and gain a competitive edge. Furthermore, the players operating in the industry are also expected to offer financing and insurance options as value-added services by partnering with financing institutions.
France Used Car Market Leaders
Hellman and Friedman LLC (AutoScout24)
Leboncoin
Aramis Group
ParuVendu
La Centrale
*Disclaimer: Major Players sorted in no particular order
France Used Car Market News
- January 2023: Heycar, an online used car marketplace with operations in France, announced its restructuring strategy for its global business by reducing 16% of its 450 staff. The company stated that the restructuring aims to reduce expenditure to widen its profit margins, which have declined in recent years.
- October 2023: AutoScout24 published its monthly report on the condition of the used vehicle market in France, indicating that vehicles aged between 2-5 years contributed to the majority share of 27.07% of the overall used cars registered in October 2023. The company stated that the registrations of diesel and gasoline-used cars showcased a decline of 3.7% and 4.4%, respectively, compared to October 2022.
- November 2022: Aramis Group, an online-used car trader based in France, announced the acquisition of Cazoo's business in Italy, which operates a brand named Brumbrum that sells approximately 1,600 used vehicles annually, with a turnover of EUR 30 million (USD 32 million) as of November 2022.
France Used Car Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing New Car Prices to Foster the Growth of the Market
4.2 Market Restraints
4.2.1 Presence of Various Used Car Dealerships Hampers the Market Growth
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value - USD and Volume - Units)
5.1 By Vehicle Type
5.1.1 Hatchbacks
5.1.2 Sedans
5.1.3 Sports Utility Vehicles (SUVs)
5.1.4 Multi-purpose Vehicles (MPVs)
5.2 By Vendor Type
5.2.1 Organized
5.2.2 Unorganized
5.3 By Fuel Type
5.3.1 Petrol
5.3.2 Diesel
5.3.3 Electric
5.3.4 Others (LPG, CNG, etc.)
5.4 By Sales Channel
5.4.1 Online
5.4.2 Offline
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Hellman and Friedman LLC (AutoScout24)
6.2.2 Leboncoin
6.2.3 Aramis Group
6.2.4 ParuVendu
6.2.5 HeyCar
6.2.6 BYmyCAR Group
6.2.7 BNP Paribas Fortis (Arval AutoSelect)
6.2.8 Auto Beeb
6.2.9 La Centrale
6.2.10 OOYOO
6.2.11 Reezocar
6.2.12 Autosphere
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Improved Focus on Extending Value-added Services such as Financing and Insurance Options to Fuel the Market Demand
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.
| By Vehicle Type | |
| Hatchbacks | |
| Sedans | |
| Sports Utility Vehicles (SUVs) | |
| Multi-purpose Vehicles (MPVs) |
| By Vendor Type | |
| Organized | |
| Unorganized |
| By Fuel Type | |
| Petrol | |
| Diesel | |
| Electric | |
| Others (LPG, CNG, etc.) |
| By Sales Channel | |
| Online | |
| Offline |
France Used Car Market Research FAQs
How big is the France Used Car Market?
The France Used Car Market size is expected to reach USD 113.98 billion in 2024 and grow at a CAGR of 5.52% to reach USD 149.11 billion by 2029.
What is the current France Used Car Market size?
In 2024, the France Used Car Market size is expected to reach USD 113.98 billion.
Who are the key players in France Used Car Market?
Hellman and Friedman LLC (AutoScout24), Leboncoin, Aramis Group, ParuVendu and La Centrale are the major companies operating in the France Used Car Market.
What years does this France Used Car Market cover, and what was the market size in 2023?
In 2023, the France Used Car Market size was estimated at USD 107.69 billion. The report covers the France Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the France Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
France Used Car Industry Report
Statistics for the 2024 France Used Car market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. France Used Car analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
