Market Size of Poland Used Car Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Poland Used Car Market Analysis
Poland Used Car Market was valued at USD 20 Billion in 2021 and is projected to grow to USD 29.18 Billion by 2027, registering a CAGR of 6.5% in terms of revenue during the forecast period (2022-2027).
The COVID-19 pandemic disrupted the market growth as a shutdown of manufacturing units and restrictions declined demand in the market. Further, Key OEMs have introduced changes in the functioning of car parts manufacturers were introduced, and due to supply chain disruptions resulted in a downfall in the revenue of the manufacturing industries. However, as restrictions eased demand for used cars has surged across the country and the majority of the used cars are imported to the country from Germany.
Over the long term, Personal mobility has gained popularity across the country and people across the country are avoiding public transportation owing to which demand for personal vehicles is high. The high cost of new cars is likely to witness significant demand for used cars. Online platforms have encouraged to choose the best options to buy a used car. The rise in the use of the internet and smartphone applications to check new offers and finance options across the country is also witnessing major growth for the market.
Rise in disposable income,growing demand for luxury cars, shorter car ownership periods, booming import of used cars across the country is also witnessing major growth for the market. Decline in new vehicle sale has been witnessing major growth for the used car market. The country has witnessed significant decline in the new vehicle sale in 2022. For instance,In June 2022, vehicle registrations declined by 10.8% with respect to June of 2021. In total, 48,020 cars were registered and 517,391 new cars were sold in 2021, which is 13.15% less than 2021. Such developments, poised to create positive outlook for the market.
Further, with the increasing number of individuals inclined towards individual mobility and favorable customized financing options the used car market across country to grow significantly.
