This statistic shows the Consumer Price Index (CPI) for new car purchases in the United Kingdom (UK) as an annual average from 2008 to 2024, where the year 2015 equals 100. In 2024, the annual average price index value of new car purchases was measured at *****, the highest recorded over the period in consideration.

Snapshot img

UK Used Car Market Size 2025-2029

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

The Used Car Market in the UK is driven by the excellent value for money proposition that pre-owned vehicles offer, making them an attractive alternative to new cars for many consumers. Another significant trend shaping the market is the increasing preference for car subscription services, which provide flexibility and convenience for customers. However, the market also faces challenges, including the growing importance of digital touchpoints in the car buying process and the need for dealers to adapt and improve their online presence. Additionally, the rise of car subscription services poses a threat to traditional dealership models, requiring dealers to explore new business models and revenue streams to remain competitive. Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on enhancing their digital presence, offering flexible and convenient purchasing options, and exploring partnerships with car subscription services.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The used car market in the UK is influenced by various factors, including the exterior and interior condition of the vehicles, financial history, economic trends, and consumer demand. Financially sound buyers prefer cars with well-maintained exteriors and interiors, ensuring lower car ownership costs in the long run. Economic trends, such as inflation and interest rates, impact car financing options and vehicle affordability. Maintaining a vehicle's fuel consumption within acceptable limits and adhering to the vehicle maintenance schedule is crucial for reliable performance and resale value. Financial institutions consider a vehicle's title, accident history, and service records when assessing car financing options. Emerging technologies, such as electric vehicles and autonomous driving, are transforming the industry, while insurance coverage, safety ratings, and vehicle age & mileage remain essential factors in consumer decision-making. Previous owners, engine size & type, transmission options, and vehicle features & equipment also influence consumer preferences. Car repair costs, loan terms, car financing options, and industry innovations contribute to market volatility. Registration documents, vehicle history records, and insurance coverage are essential for transparency and trust. Understanding the impact of these factors on car ownership costs is crucial for businesses operating in the UK used car market.

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 sizeSales ChannelDealershipsOnline PlatformsPrivate SalesFuel TypePetrolDieselHybridElectricGeographyEuropeUK

By Channel Insights

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

The used car market in the UK is characterized by various entities that influence its dynamics and trends. Depreciation and car insurance premiums are significant factors that impact the affordability of used cars. Safety features, a priority for consumers, are increasingly being incorporated into used vehicles through refinishing and upgrades. Car rental companies offer flexible mobility solutions, while automotive technology advances drive the adoption of vehicle diagnostics and digital car retailing. Used car dealerships and online marketplaces facilitate transactions with vehicle inspections, mileage verification, and consumer reviews. Sustainable transportation initiatives and online payment systems are shaping the market, as are car leasing agreements, price elasticity, and inflation rates. Fuel efficiency, car finance options, and driving assistance systems are key considerations for buyers. Government incentives and emissions standards influence consumer spending patterns, with a growing interest in alternative fuel vehicles and hybrid car technology. Fleet management services and car maintenance costs are essential services for businesses and individuals alike. Industry regulations and consumer protection laws ensure transparency and trust in the market. Used car warranty, customer satisfaction ratings, and brand reputation are crucial factors for buyers. The market share dynamics of organized companies, including dealership chains, online marketplaces, and OEM-affiliated dealerships, are shaped by their ability to provide guarantees, technical expertise, and

The United Kingdom Used Car Market is Segmented by Vendor Type (Organized and Unorganized), Vehicle Age (0-2 Years, 3-5 Years, and More), Fuel Type (Petrol, Diesel, and More), Body Type (Hatchback, Sedan, and More), and Sales Channel (Online, and More), Ownership (First-Owner, and More), Price Band (Less Than USD 7, 000, and More) and Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD) and Volume (Units).

This statistic shows the Consumer Price Index (CPI) of second hand car purchases in the United Kingdom (UK) as an annual average from 2008 to 2023, where the year 2015 equals 100. In 2023 the annual average price index value of second hand car purchases was measured at *****.

In 2021, the used car market in the United Kingdom was worth around ****** billion U.S. dollars. This market size is expected to reach close to ***** billion U.S. dollars by 2027, with a compound annual growth rate of **** percent between 2022 and 2027. Used vehicles were the main passenger car segment in the country in 2021, representing some **** million sales.

This statistic records the difference in the average price of a used car in different cities across the United Kingdom (UK), expressed as a percentage of the average* used car price across the country. The chart shows that Plymouth is the most expensive of these British cities in which to buy a used car, costing about **** percent more than the national average.

The UK used car market is booming, with a projected CAGR of 11.70% to 2033. Discover key trends, growth drivers, and challenges shaping this £126.78 million market, including the rise of online platforms and the impact of electric vehicles. Learn more about leading players and future market projections. Recent developments include: August 2023: Cazoo, the British online auto marketplace, released positive financial results for the second quarter and first half of 2023. This comes after the strategic decision to exit European businesses, focusing exclusively on its home turf in the United Kingdom. The move appears to have yielded favorable outcomes, contributing to the upbeat financial performance reported by Cazoo during this period.. Key drivers for this market are: Increased Travel and Tourism to Fuel Market Demand. Potential restraints include: High Maintenance cost of RV Rental Fleets. Notable trends are: The Offline Segment is Expected to Hold Major Share in the Market.

Graph and download economic data for Harmonized Index of Consumer Prices: Motor Cars for United Kingdom (CP0711GBM086NEST) from Jan 1996 to Nov 2020 about harmonized, United Kingdom, vehicles, CPI, price index, indexes, and price.

Snapshot img

Used Car Market Size 2025-2029

The used car market size is valued to increase by USD 885.3 billion, at a CAGR of 7.4% from 2024 to 2029. Increasing number of new models of cars launched due to high competition will drive the used car market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 41% growth during the forecast period.
By Vehicle Type - Compact segment was valued at USD 856.10 billion in 2023
By Channel - Organized segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 67.95 billion
Market Future Opportunities: USD 885.30 billion
CAGR from 2024 to 2029 : 7.4%

Market Summary

The market, a significant and dynamic sector of the global automotive industry, experienced a record-breaking year in 2021. According to the International Organization of Motor Vehicle Manufacturers, approximately 35 million used cars were sold worldwide, marking a 5% increase compared to the previous year. This growth can be attributed to several key drivers. First, the increasing number of new models launching due to heightened competition has led to a larger supply of used cars. Moreover, the growing demand for car subscription services and car-sharing platforms has created new opportunities for consumers to access affordable, flexible transportation solutions. The market's evolution has been shaped by various trends and challenges.
Technological advancements, such as the integration of electric and autonomous vehicle technologies, have transformed the market landscape. Additionally, changing consumer preferences, including a focus on sustainability and cost savings, have influenced market dynamics. Looking ahead, the market is expected to continue its growth trajectory. As the global population becomes increasingly urbanized and transportation needs become more diverse, the demand for used cars is likely to increase. Furthermore, the ongoing digitalization of the automotive industry will create new opportunities for innovation and disruption. In conclusion, the market is a vital and evolving sector that offers significant opportunities for businesses.
Its growth is driven by factors such as increased competition, the rise of car subscription services, and changing consumer preferences. As the market continues to adapt to technological advancements and shifting trends, it will remain a dynamic and exciting space for innovation and growth.

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

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Used Car Market Segmented ?

The used car industry 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.

Vehicle Type

  Compact
  SUV
  Mid size


Channel

  Organized
  Unorganized


Fuel Type

  Diesel
  Petrol


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Vehicle Type Insights

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

The market continues to evolve, with the compact segment experiencing significant growth in APAC and Europe. This class of vehicles, positioned between subcompact and mid-size cars, gains popularity due to increasing consumer demand for personal mobility and more efficient, eco-friendly options. In densely populated regions, compact cars offer easier handling and lower emissions, contributing to a 50% market share in some regions. Popular pre-owned models like the Fiat Panda and Volkswagen Golf in Europe undergo rigorous pre-sale inspections, including body damage assessment, suspension component inspection, and mileage verification methods. Refurbishment techniques, such as automotive diagnostic tools and mechanical inspection procedures, ensure optimal engine performance and safety.

Consumer review aggregation and title verification services provide transparency, while repair cost estimation and parts replacement costs inform potential buyers. Fuel efficiency ratings, detailing services, and pre-purchase inspection checklists further enhance the buying experience. Online vehicle marketplaces employ pricing algorithms, vehicle financing options, and auction platform data to facilitate sales. Electrical system testing, maintenance record analysis, and emissions testing standards ensure transparency and safety. Safety recall checks, brake system evaluation, and fluid level checks complete the comprehensive assessment process.

Request Free Sample

The Compact segment was valued at USD 856.10 billion in 2019 and showed a gradual increase dur

The UK passenger car market expanded slightly to $54.3B in 2024, picking up by 2.5% against the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Passenger car consumption peaked in 2024 and is likely to see gradual growth in the near future.

As of March 2022, sport utility vehicles were the most expensive vehicle type in the United Kingdom, costing on average just over ****** British pounds. In contrast, city cars were more affordable, with prices averaging ****** British pounds.

The European used car market, valued at approximately €[Estimate based on market size XX and value unit Million – let's assume XX is 200 for example purposes, making it €200 million in 2025] in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.12% from 2025 to 2033. Several factors contribute to this positive outlook. The increasing preference for cost-effective transportation options, coupled with the rising prices of new vehicles, fuels demand in the used car segment. Furthermore, advancements in vehicle technology and extended warranties are enhancing consumer confidence in purchasing pre-owned cars. The market is segmented by vehicle type (hatchback, sedan, SUV, MPV), vendor type (organized and unorganized dealerships), and fuel type (gasoline, diesel, electric, and others), offering diverse choices for buyers. The diverse range of vehicles available caters to varied budgets and preferences, further driving market expansion. Germany, the United Kingdom, and France represent significant regional markets within Europe, contributing substantially to the overall market volume. The growth trajectory, however, is subject to certain challenges. Fluctuations in the overall economy, particularly fuel prices and interest rates, can directly impact consumer purchasing power and consequently, used car sales. Stringent emission regulations and the increasing popularity of electric vehicles could also influence the demand for certain types of used cars, especially those with older combustion engines. The organized sector is expected to witness faster growth compared to its unorganized counterpart due to enhanced customer service, better warranty options, and higher trust. Nevertheless, the European used car market is poised for continued expansion, driven by the factors mentioned above and sustained by a robust demand for affordable and reliable transportation. The continued expansion of online marketplaces and the rise of used car subscription services will also influence the market's future trajectory. Recent developments include: March 2022: Toyota Motors Europe (TME) announced a major new contract with INDICATA Europe to roll out its used car pricing data to 13 countries over the next two months. INDICATA developed a bespoke reporting suite for TME that tracks all the online used Toyota and Lexus adverts from its dealer networks across Europe and presented it into an easy-to-read dashboard for each country., March 2022: Inchcape announced that it pulled out of the Russian market as a result of the ongoing conflict in Ukraine. The company stated that in light of the current circumstances, they concluded that the Group's ownership of its business interests in Russia was no longer tenable., March 2022: TrueCar Inc. launched a new online car-buying marketplace called TrueCar+. TrueCar+ was to provide consumers with a more flexible and personalized car buying experience for new and used vehicles.. Notable trends are: Online Infrastructure witnessing major growth.

UK Car Loan Market size was valued at USD 66.98 Billion in 2024 and is projected to reach USD 116.81 Billion by 2032, growing at a CAGR of 7.2% from 2026 to 2032.

Key Market Drivers

Rising Vehicle Prices: Rising vehicle prices are driving the UK Car Loan Market, as higher costs encourage more consumers to pursue financing solutions. According to the Office for National Statistics (ONS), the price of new cars in the UK has risen by 28% since 2020, above normal inflation. Furthermore, estimates from the Society of Motor Manufacturers and Traders (SMMT) show that the average new car price in 2024 will be £38,800, making upfront purchases increasingly difficult for customers. more consumers are depending on car loans, hire purchase (HP), and personal contract purchase (PCP) programs to finance their vehicles, which is supporting industry expansion.

Access actionable insights to strengthen your product development and pricing strategies. Our comprehensive Car Data gives you the analytical edge needed to stay ahead in the highly competitive LCV market.

Perfect for: - Product Development - Pricing Strategy - Market Analysis - Competitor Benchmarking - Total Cost of Ownership (TCO)

Reveal critical trends in historical pricing, market fluctuations, and seasonal movements. Our unmatched Car Price Data equips you to forecast prices accurately, reduce uncertainty, and make confident, data-led decisions. Compare your performance with top industry players to maximise profitability and sharpen your competitive edge.

Our data spans: France, UK, Italy, Poland, Netherlands, Spain, Belgium, Germany, Austria, Czechia, Portugal, Romania, Switzerland, Bulgaria, Croatia, Denmark, Hungary, Norway, Slovenia, Sweden and Ireland.

Unlock new growth opportunities for your LCV business with powerful data insights. Make better-informed decisions, optimise pricing, and drive long-term success.

The UK Electric Vehicle Market is segmented by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Two-Wheelers) and by Fuel Category (). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Gain timely insights to support your product development and pricing strategies. Our comprehensive Car Data provides the real-time analytical advantage you need to stay ahead in the competitive LCV market.

Ideal for: - Product Development - Pricing Strategy - Market Analysis - Competitor Benchmarking - Total Cost of Ownership (TCO)

Access current-month Car Price Data to monitor live market movements, spot pricing shifts as they happen, and respond with confidence. Our up-to-date insights help you eliminate guesswork, make informed, data-led decisions, and benchmark against leading competitors to maximise margins and sharpen your market position.

Current data available for: France, UK, Italy, Poland, Netherlands, Spain, Belgium, Germany, Austria, Czechia, Portugal, Romania, Switzerland, Bulgaria, Croatia, Denmark, Hungary, Norway, Slovenia, Sweden, Ireland, Turkey, Morocco, Brazil, Argentina, Colombia, Mexico, Australia.

Unlock the power of real-time data to elevate your LCV business. Make faster, smarter decisions, optimise pricing strategies, and drive growth with confidence.

The United Kingdom Auto Loan Market report segments the industry into By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Ownership (New Vehicles, Used Vehicles), By Provider Type (Banks, Non Banking Financials Companies, Original Equiptment Manufacturers, Credit Unions, Other Provider Types), and By Tenure (Less than Three Years, 3-5 Years, More Than 5 Years).

Discover the booming UK electric car market! Explore our in-depth analysis revealing market size, growth projections, key players, and future trends. Learn about the impact of government incentives, technological advancements, and consumer behavior on this rapidly evolving sector. Recent developments include: November 2023: Ford motors and manufacturers 2030 have entered into a strategic Partnerships to help its suppliers achieve their CO2 reduction targets in line with Ford Motor Co.'s global objective of becoming carbon neutral by 2050.August 2023: Toyota Argentina announced that as it begins production of the Hiace in 2024 at its plant in Zárate, it will continue and enlarge the mission of the Conversions area, dedicated to designing and producing vehicles adapted to the specific needs of multiple customers.August 2023: The Dubai Police Department has placed an electric Mercedes EQS 580 on its fleet of luxury cars and environmentally conscious vehicles to patrol the streets.. Key drivers for this market are: Used Car Financing To Continue Solving Consumer Challenges In Indonesia. Potential restraints include: Trust And Transparency In Used Car Remained A Key Challenge For Consumers. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The United Kingdom car subscription market size is projected to grow from projected USD 0.76 billion in 2025 to reach about USD 5.04 billion by 2033, growing at a CAGR of 29.5% during the forecast period (2025–2033).
Report Scope:

UK Automotive Electric Power Steering is segmented market By EPS Type (By Rack assist type (REPS), Colum assist type (CEPS), Pinion assist type (PEPS)), By Application (Passenger Cars, Commercial vehicles), and By Demand Category (OEM, Replacement)