Coupes and convertibles were the most expensive used car types in the United States as of February 2023, priced on average at around 49,800 and 46,700 U.S. dollars respectively. In contrast, used wagons and hatchbacks were more affordable, at an average of 20,000 and 24,200 U.S. dollars. The overall used vehicle average list price had been steadily rising between mid-year 2020 and mid-year 2022, but dipped in June 2023.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUSR0000SETA02) from Jan 1953 to Feb 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

In the first half of 2024, the average selling price of used vehicles came to around 28,300 U.S. dollars. In 2023, new automobiles and light trucks were on average almost 17,700 U.S. dollars more expensive than used light vehicles. The used car boom As the price for new vehicles has been increasing, more Americans are turning towards buying second-hand cars and light trucks. Buying new cars and light trucks is typically seen as a privilege that few may do often. Generally, used vehicle sales are on the rise in most countries. Thanks to ever-improving technology, automobiles may keep running for many years and remain in good condition. This allows the average age of light vehicles in operation in the United States to increase slowly. Although new cars are often seen as status symbols, vintage cars are also very popular in the United States, the main reason for this trend being aesthetic and cultural values.

The average list price for used vehicles in the United States reached some 27,300 U.S. dollars in June 2023. This was a year-on-year decrease of around 2.8 percent of the June 2022 average, which stood at under 28,100 U.S. dollars. Used cars recorded an overall increase in prices and a decrease in more affordable stocks as a consequence of the global chip shortage which put the automotive industry at a standstill, affecting the production of new vehicles.

Used Car Prices YoY in the United States decreased to 0.10 percent in February from 0.80 percent in January of 2025. This dataset includes a chart with historical data for the United States Used Car Prices YoY.

The average price of used electric vehicles remained well over the price for used hybrid and non-hybrid/electric cars in the United States in February 2023. That month, used EVs cost an estimated 46,400 U.S. dollars, over 13,000 U.S. dollars more than a used hybrid vehicle.

United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average was 187.05700 Index 1982-84=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average reached a record high of 216.87600 in February of 2022 and a record low of 20.00000 in March of 1956. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average - last updated from the United States Federal Reserve on March of 2025.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in U.S. City Average (CUSR0000SETA) from Jan 1993 to Feb 2025 about used, vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in U.S. City Average (CUUS0000SETA) from H1 1993 to H2 2024 about used, vehicles, urban, new, consumer, CPI, price index, indexes, price, and USA.

The metropolitan areas with the highest used car average selling prices in January 2022 were both located in Florida, with the West Palm Beach-Fort Pierce area recording an average price of close to 36,500 U.S. dollars. This was close to 5,700 U.S. dollars more than the national average.

United States Motor Vehicle Sales: Average Price: Used Vehicle data was reported at 8,786.000 USD in 2010. This records an increase from the previous number of 8,483.000 USD for 2009. United States Motor Vehicle Sales: Average Price: Used Vehicle data is updated yearly, averaging 8,130.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 8,786.000 USD in 2010 and a record low of 5,857.000 USD in 1990. United States Motor Vehicle Sales: Average Price: Used Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

Used car prices have been increasing across all vehicle age groups in Spain between 2021 and 2022, with used cars between 10 and 15 years old recording the steepest price inflation. This age group's average price was up 58.2 percent year-over-year, reaching around 7,900 euros in 2022. In contrast, cars between one and three years old reported a slower inflation, costing approximately 21,574 euros in 2022—23.3 percent more than in 2021.

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UK Used Car Market Size 2025-2029

The uk used car market size is forecast to increase by USD 39.5 billion billion at a CAGR of 6.2% between 2024 and 2029.

The Used Car Market in the UK presents a significant value proposition for investors and businesses due to its size and growth dynamics. This market is driven by various factors, including the improving economic conditions, increasing consumer preference for cost-effective alternatives to new cars, and the rise of touchpoint management solutions that enhance the buying and selling experience. Furthermore, the emergence of car subscription services has added a new dimension to the market, offering flexibility and convenience to consumers. However, challenges such as increasing competition, regulatory changes, and the need for transparency and trust in the marketplace require strategic planning and innovation from market participants. Companies seeking to capitalize on these opportunities and navigate challenges effectively should focus on offering competitive pricing, exceptional customer service, and innovative solutions that address the evolving needs of consumers in the UK used car market.

What will be the size of the UK Used Car Market during the forecast period?

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The used car market in the UK is a significant sector of the European automobile industry, characterized by demand and dynamic trends. With a vast dealership network and increasing online sales, this market caters to various consumer preferences, including sports utility vehicles (SUVs), passenger cars, hatchbacks, sedans, hybrid vehicles, and electric cars. The market's size is substantial, with millions of used vehicles transacted annually. Key trends include the growing popularity of SUVs, digital sales, and car subscription services. Online marketplaces, such as auto marketplaces and telecom industry platforms, facilitate transactions, offering consumers access to extensive vehicle history records, financing options, and vehicle quality information. Used car management companies, leasing offices, and car dealers play crucial roles in the market, providing services like vehicle inspections, appraisals, and certification. The market's direction is influenced by factors like consumer confidence, residual values, and the shift towards petrol engines, diesel vehicles, and alternative fuel options like hybrid and electric vehicles. Quality finance charges, off-lease vehicles, and blockchain records are increasingly shaping the market landscape, ensuring transparency and trust in used car transactions. The average ownership duration is decreasing, with consumers seeking more flexible financing options and convenient digital retailing experiences. Overall, the used car market in the UK remains a vibrant and evolving sector, adapting to consumer needs and technological advancements.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ChannelOrganizedUnorganizedVehicle TypeCompact carSUVMid sizeTypePetrolDieselOthersGeographyUK

By Channel Insights

The organized segment is estimated to witness significant growth during the forecast period.

Used cars in the UK market are primarily sold through organized companies, which include dealership chains, online marketplaces, and original equipment manufacturers (OEM)-affiliated dealerships. These organizations ensure a smooth vehicle ownership transfer with local government collaborations and complete transparency regarding timelines and fees. They offer technical expertise and financial support to buyers, enabling a more convenient and trustworthy purchasing experience. The rise of online marketplaces, such as Motors.Co.Uk, with features like virtual showrooms and detailed vehicle histories, has significantly contributed to the growth of the used car sector. Organized companies' ability to digitalize and create a seamless interface is a key driver for sales during the forecast period.

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The Organized segment was valued at USD 78.40 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of UK Used Car Market?

Excellent value for money proposition of used cars is the key driver of the market. The used car market in the UK has witnessed significant growth due to the increasing number of automakers entering this sector and the

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Used Car Market Size 2024-2028

The used car market size is forecast to increase by USD 857.1 billion at a CAGR of 7.56% between 2023 and 2028.

The market is experiencing significant growth and transformation, driven by increasing competition leading to the launch of numerous new car models and the emergence of innovative business models. One of the key trends shaping this market is the rising demand for car subscription services, which offer flexible and affordable access to vehicles without the long-term commitment of ownership. Another trend is the increasing popularity of car-sharing services, which provide short-term vehicle rentals on an hourly or daily basis, addressing the growing need for mobility solutions in urban areas. These trends present both opportunities and challenges for market participants. For companies looking to capitalize on the growing demand for used cars, there is a significant opportunity to offer flexible and affordable solutions through car subscription and car-sharing services. However, increased competition and changing consumer preferences require a deep of market dynamics and the ability to adapt quickly to emerging trends. Moreover, the market is also facing challenges such as the increasing complexity of vehicle technology and the need for reliable and efficient after-sales services. Companies that can effectively address these challenges and provide value-added services to customers are likely to succeed in this market. Overall, the market is an exciting and dynamic space, offering significant opportunities for growth and innovation for companies that can navigate the challenges effectively.

What will be the Size of the Used Car Market during the forecast period?

Request Free SampleThe market continues to be a dynamic and sizeable industry application in the personal transportation sector, catering to a diverse consumer base. With the increasing popularity of modern cars equipped with advanced safety features like adaptive cruise control and lane-keeping assistance, the demand for used vehicles with such technologies is on the rise. Online platforms and e-commerce platforms have revolutionized the buying process, enabling consumers to access vehicle histories through mobile apps and vehicle history reports. Environmental concerns have also influenced the market, driving demand for used vehicles with fuel efficiency and low emissions. As technology advances, infotainment systems and imaging technologies are becoming increasingly important considerations for used car buyers. Overall, the market is poised for continued growth, offering consumers a cost-effective alternative to new vehicles while providing access to the latest industry applications and technologies.

How is this Used Car Industry segmented?

The used car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. Vehicle TypeCompact carSUVMid sizeChannelOrganizedUnorganizedFuel TypePetrol/GasolineDieselElectric/HybridEnd UserIndividual BuyersBusiness/Fleet OperatorsGeographyAPACChinaIndiaJapanNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaEgyptKSAOmanUAESouth AmericaArgentinaBrazil

By Vehicle Type Insights

The compact car segment is estimated to witness significant growth during the forecast period.The compact car segment in the global used vehicle market is experiencing significant growth due to increasing consumer preference for personal mobility and the need for fuel efficiency. Europe and Asia-Pacific are the leading markets for used compact cars, driven by the availability of diverse consumer bases, aging vehicle fleets, and regulatory changes. Compact cars, such as the Fiat Panda and Volkswagen Golf, are popular choices due to their adaptive cruise control, lane-keeping assistance, and infotainment systems. Eco-friendly vehicles, including hybrid and electric cars, are gaining traction due to environmental concerns and increasing fuel prices. Online platforms and e-commerce marketplaces, such as Ebay Inc., offer competitive financing options, flexible loan terms, and digital verification for a seamless buying process. Modern vehicles with advanced imaging technologies and virtual vehicle inspections ensure transparency and symmetry of information for buyers. The future outlook for the market is positive, with a focus on eco-friendly cars, affordable models, and digital retailing. Sales channels, including franchise dealers, independent dealers, and car auctions, offer various fuel types, vehicle types, and warranty options to cater to budget-conscious buyers. Online sales, lease returns, and trade-in programs are also contributing to the growth of the market.

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Graph and download economic data for Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average (CUUR0000SETA01) from Mar 1947 to Jan 2025 about vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

As of June 2023, a used car cost on average 23,750 euros in the Portuguese market. This was a year-over-year price inflation of around 8.45 percent compared to the average recorded at mid-year in 2022, despite prices stabilizing in the fourth quarter of 2022.

Used convertibles recorded the steepest price inflation in the United Kingdom between October 2021 and October 2022, reaching an average selling price of around 41,750 British pounds. In contrast, the price of hatchbacks had on average decreased, down to 15,700 British pounds. This made Hatchbacks not only the only car segment decreasing in prices but also the cheapest body type in the UK as of October 2022..

China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data was reported at 57.200 Jan2004=100 in Jun 2018. This records a decrease from the previous number of 57.600 Jan2004=100 for May 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data is updated monthly, averaging 71.050 Jan2004=100 from Jan 2004 (Median) to Jun 2018, with 174 observations. The data reached an all-time high of 100.000 Jan2004=100 in Jan 2004 and a record low of 57.200 Jan2004=100 in Jun 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data remains active status in CEIC and is reported by China Auto Index. The data is categorized under China Premium Database’s Price – Table CN.PB: China Auto Index: Automobile Price Index (Discontinued).

The Belgium Used Car Market is Segmented by Vehicle Type (Hatchbacks, Sedans, and Sports Utility Vehicles/Multi-Purpose Vehicles), Vendor Type (Organized and Unorganized), Fuel Type (Petrol, Diesel, Electric, and Other Fuel Types (LPG, CNG, Etc. )), and Sales Channel (Online and Offline). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

Used car prices in Germany have increased significantly since 2018, though 2023 saw a drop across some sales channel categories. Free trade vehicles recorded a decrease, with figures falling to around 15,700 euros in 2023. Prices of used cars sold through brand trading have always been historically higher. New and old Germany is a leader on the global car market, with car brands and production quality of long- standing. Volkswagen, Mercedes, and BMV are among the first of many names that come to mind. Consumers may therefore be motivated to buy new cars by various means of financing, considering it a good investment for the future. Of course, new car prices differ significantly compared to used vehicles, with a new car costing an average of around 44,630 euros in 2023. Prices had grown in recent years, both due to the far-reaching effects of COVID-19 restrictions on industrial production and the energy crisis following the beginning of the Russia-Ukraine war. Drivers looking to buy a car are faced with familiar cost-related decisions regarding whether they buy new or second-hand, but higher fuel prices across the board are an issue facing all vehicle owners. A market with a future The German used car market is expected to grow in the coming years, with around 114.6 billion U.S. dollars predicted for 2025. Besides potentially contributing to sustainability and environmental protection goals, selling used cars is a business going beyond Germany’s borders. For example, Poland was Germany’s leading second-hand vehicle market by far when compared to other European countries, with around 422.3 cars imported in 2023.