Europe Used Car Market Growth Shaped by Urban Mobility Transformation

The Europe used car market is undergoing a significant transformation, supported by shifting consumer preferences, digitalization of automotive retail, and evolving regulatory frameworks favoring sustainable mobility. The market is likely to be valued at US$61.7 billion in 2026 and is projected to reach US$84.6 billion by 2033, expanding at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2026 to 2033. This steady growth trajectory reflects the increasing acceptance of used vehicles as a cost-effective, reliable, and environmentally responsible alternative to new car ownership across European economies. Rising affordability concerns among consumers, particularly in the wake of persistent inflationary pressures and high interest rates, are pushing buyers toward pre-owned vehicles. Used cars offer a lower total cost of ownership, reduced depreciation risks, and flexible financing options, making them especially attractive to first-time buyers and urban households. Additionally, the expanding availability of certified pre-owned vehicles with warranties and transparent vehicle histories is strengthening consumer confidence and accelerating market adoption.