The average for 2021 based on 165 countries was 108.07 index points. The highest value was in Singapore: 355.77 index points and the lowest value was in Syria: 58.27 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Switzerland had the highest price tags on new passenger cars sold in 2020, overtaking Norway for the first time in five years. Swiss people had to dig deeper into their pockets than any of their European neighbors, with prices roughly 15,000 euros higher than the EU-28 average. Reasons for automobiles being so costly in Switzerland are partly due to tax rates, which are set by each canton based on a set of varying criteria including but not limited to vehicle weight, powertrain, and CO2 emissions. These incentives contribute to making larger, heavier vehicles using petrol and diesel engines more expensive. The only vehicles exempt from taxes in selected cantons were electric cars. Electric vehicles are extremely popular in Norway, second in the ranking in terms of average vehicle price, in parts due to the VAT and tolls exemptions for electric vehicles in the country. Norwegian buyers are able to spend more on high-tech models.

Car tax rates in Nordic countries higher on average
Other European countries with a 25 percent tax rate on acquisition are Croatia, Denmark and Sweden, while those in Hungary even exceeded Norwegian rates by two percent. As seen in this statistic higher tax rates on passenger cars translates to higher prices overall. Sweden and Denmark both appeared in the top seven most expensive car buying countries. Hence, in terms of volume of new car registrations, Northern European countries trailed behind not only their more populous neighbors, but also other smaller countries where tax rates were lower.

Prices for passenger cars to stay stable
Prices for passenger cars were forecast to stay relatively stable in the next three years, with only slight increases expected. Luxury cars were the only group where price change was estimated to be more prominent.

The average for 2021 based on 41 countries was 110.69 index points. The highest value was in Turkey: 167.48 index points and the lowest value was in Russia: 71.26 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Except for Poland and Sweden, the online business-to-consumer used car retail price index in selected European countries had decreased or remained stable at the beginning of June 2023. In most countries surveyed, this retail index had increased compared to used car prices recorded in January 2022. France and Portugal recorded the steepest price inflation, at a price index of *** and *****, respectively. In contrast, used cars in Germany and the United Kingdom were cheaper in June 2023 than in January 2022.

The UK used car market: Boosted by national supply

Most European countries imported a large share of the used cars in circulation in each country. At a share of ***** percent for imported used cars, the United Kingdom was one of the few European countries to rely heavily on its national supply of used vehicles. Nearly *** million used cars were sold in the UK in 2022, though the cost of living crisis and used car price hike have dampened the success of this national market.

Portugal: Inflation and the used car market

Even in markets more reliant on used car imports, inflation has impacted the market. Over ** percent of the light passenger vehicle market in Portugal was reliant on used vehicle imports from the European Union, but only ** percent of consumers intended to purchase a used car as of November 2022. However, while car demand has been influenced by rising prices, inflation has also contributed to the popularity of secondhand vehicles. In Portugal, ** percent of consumers preferred a used purchase over a new car due to the new car prices, a share which reached ** percent for the United Kingdom.

The European used car market continues to experience elevated prices, with the Harmonized Consumer Price Index for used cars in the Euro area reaching 121.24 in February 2025. This represents a significant increase of 21.24 points compared to the base year. The upward trend in used car prices began in early 2021 and has yet to show substantial signs of returning to pre-pandemic levels. Despite this persistent elevation, there is a growing sentiment among industry professionals that prices may start to stabilize or even decrease in the near future. Dealer expectations and market dynamics A December 2024 survey revealed that over 40 percent of European used car dealers anticipated a decrease in used car prices for 2025. This expectation aligns with the recent flattening of the price index curve observed in late 2024 and early 2025. However, about a third of the surveyed dealers believed prices would remain stable, indicating a divided outlook on the market's future direction. Consumer behavior and regional variations The used car market continues to play a significant role in vehicle ownership, particularly among younger Europeans. Nearly 60 percent of household cars available to people under 30 years old in Europe were purchased as used vehicles. This trend varies across countries, with France and Norway showing higher rates of used car ownership among young people compared to Southern European countries like Spain and Italy. Additionally, regional differences in used car mileage and transaction volumes highlight the diverse nature of the European used car market. Spain, for instance, reported the highest year-over-year increase in used car transactions as of the fourth quarter of 2024, with a 12.3 percent rise.

Turkey: Vehicle prices, world average = 100: The latest value from 2021 is 167.48 index points, an increase from 112.71 index points in 2017. In comparison, the world average is 108.07 index points, based on data from 165 countries. Historically, the average for Turkey from 2017 to 2021 is 140.1 index points. The minimum value, 112.71 index points, was reached in 2017 while the maximum of 167.48 index points was recorded in 2021.

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 average for 2021 based on 27 countries was 111.99 index points. The highest value was in Denmark: 143.75 index points and the lowest value was in Slovakia: 97.84 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

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 Sep 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

According to a July 2023 survey, Portuguese consumers were the consumers among selected European countries which had most noticed a large increase in new car prices. Just over half of Portuguese respondents reported a large increase in the price of new cars, compared to ** percent of Dutch respondents.

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?

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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.

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

The average for 2021 based on 50 countries was 107.42 index points. The highest value was in Democratic Republic of the Congo: 155.7 index points and the lowest value was in Sudan: 64.38 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

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 Sep 2025 about vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

The Finland used car market, valued at €12.81 million in 2025, is projected to experience robust growth, driven by increasing vehicle ownership, particularly within urban areas, coupled with the affordability of used cars compared to new vehicles. The market's Compound Annual Growth Rate (CAGR) of 6.60% from 2025 to 2033 signifies a steady expansion, primarily fueled by the rising popularity of SUVs and MUVs among Finnish consumers. This segment growth reflects evolving lifestyle preferences and a shift towards larger, more family-oriented vehicles. The organized sector, encompassing established dealerships and online platforms, is expected to dominate, leveraging improved digital infrastructure and enhanced consumer trust in established brands. However, the unorganized sector still holds a significant share, primarily comprising private sales. Fuel type preferences are expected to gradually shift towards more fuel-efficient and environmentally friendly options like gasoline, diesel, and electric vehicles, although diesel will likely remain significant in the short term due to existing fleet composition. Challenges include potential fluctuations in used car prices due to macroeconomic factors and governmental regulations concerning emissions standards. Growth will be further influenced by the availability of certified pre-owned vehicles and the development of efficient online marketplaces and financing options. The competitive landscape is characterized by a mix of both domestic and international players, including established dealerships like Alltvex Oy and Jaakko Rinta-Jouppi, as well as newer entrants leveraging digital technologies. Market consolidation through mergers and acquisitions is anticipated. Increased consumer awareness of vehicle history and maintenance records is expected to further drive transparency and trust within the market. Future growth hinges on adapting to evolving consumer preferences, enhancing online platforms to provide a seamless buying experience, and adapting to the transition towards electric and alternative fuel vehicles. The rise of subscription-based car services also presents a potential influence on future market dynamics. Successful players will need to strategically balance price competitiveness, service quality, and an attractive range of vehicles to cater to the diverse needs of the Finnish used car market. This report provides a detailed analysis of the dynamic Finland used car market, offering invaluable insights for businesses, investors, and policymakers. With a study period spanning 2019-2033, a base year of 2025, and a forecast period of 2025-2033, this comprehensive study unravels the market's current state and future trajectory. We delve into key segments, including vehicle types (hatchbacks, sedans, SUVs, MUVs), vendor types (organized, unorganized), and fuel types (gasoline, diesel, electric, alternative fuels), providing granular data to support informed decision-making. The report leverages high-search-volume keywords such as "Finland used car market," "used car sales Finland," "Finnish used car prices," and "Finland automotive market" to ensure maximum online visibility. Recent developments include: July 2023: Kamux Corporation announced the opening of a new flagship showroom in the Lakalaiva area in Tampere, Finland. Through this inauguration, the company expanded its facilities across the country., December 2022: Schibsted acquired 79% of consumer-to-business (C2B) used car auction marketplace AutoVex, Finland. Through this acquisition, the company expanded its facilities across the country.. Key drivers for this market are: Decline in New Car Sales. Potential restraints include: Trust And Transparency In Used Car Remained A Key Challenge For Consumers. Notable trends are: Online sales channel for Used Cars is gaining Momentum.

This dataset provides values for GASOLINE PRICES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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.

The average for 2021 based on 17 countries was 95.89 index points. The highest value was in Costa Rica: 114.38 index points and the lowest value was in Nicaragua: 76.58 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Over the forecast period until 2029, the average price is forecast to exhibit fluctuations among the ten segments. The average price decreases towards the end of the forecast period only in the segment SUVs, while the remaining segments follow a positive trend. The difference between 2016 and 2029 amounts to an absolute value of **** thousand U.S. dollars. Find further statistics on other topics such as a comparison of the average price in Uzbekistan and a comparison of the number of vehicle sales by make in the world. The Statista Market Insights cover a broad range of additional markets.

Title: “Car Sales Price Prediction Using ANN” Introduction: Problem Statement As a vehicle salesperson, the main objective is to estimate the overall amount that consumers would spend on buying a new vehicle. The main Objective of this model is to predict the net amount that a customer would likely spend.

Model We create a model that can estimate the overall amount that consumers would spend given the following characteristics: customer name, customer email, country, gender, age, annual salary, credit card debt, and net worth. We can use Machine Learning or Deep Learning Techniques, here we are using ANN for prediction. Here we are actually predicting using some random values, after that we are predicting using the training dataset. After that we are implementing and predicting using linear Regression and Ridge Regression. Then finally we are comparing the predicted amount with the actual amount.

Algorithm Neural Network is a series of algorithms that are trying to mimic the human brain and find the relationship between the sets of data. It is being used in various use-cases like in regression, classification, Image Recognition and many more.

As we have talked above, if neural networks try to mimic the human brain then there might be the difference as well as the similarity between them. Let us talk briefly about it.

Some major differences between them are biological neural network does parallel processing whereas the Artificial neural network does series processing also in the former one processing is slower (in millisecond) while in the latter one processing is faster (in a nanosecond).

A neural network has many layers and each layer performs a specific function, and as the complexity of the model increases, the number of layers also increases that why it is known as the multi-layer perceptron.

The purest form of a neural network has three layers input layer, the hidden layer, and the output layer. The input layer picks up the input signals and transfers them to the next layer and finally, the output layer gives the final prediction and these neural networks have to be trained with some training data as well like machine learning algorithms before providing a particular problem.

Working of ANN

At First, information is feed into the input layer which then transfers it to the hidden layers, and interconnection between these two layers assign weights to each input randomly at the initial point. And then bias is added to each input neuron and after this, the weighted sum which is a combination of weights and bias is passed through the activation function. Activation Function has the responsibility of which node to fire for feature extraction and finally output is calculated. This whole process is known as Forward Propagation. After getting the output model to compare it with the original output the error is known and finally, weights are updated in backward propagation to reduce the error and this process continues for a certain number of epochs (iteration). Finally, model weights get updated and prediction is done.

**Dataset Description **

The dataset was downloaded from Kaggle website. The website link is given below.it is about “Car Sales Price Prediction”. It includes five hundred rows and nine columns. It contains numeric, categorical and character. The five hundred rows consists of the data collected from five hundred people. The nine columns encompass various attributes for collecting the data. The nine attributes are customer name, customer email, country, gender, age, annual salary, credit card debt, net worth, car purchase amount.

Customer name-

The customer name includes the name of the customer. It contains the first name and last name of the customer. It is a character data set. It includes the names of the five hundred customers who are approaching the vehicle salesperson for getting the required information for buying a car.

Customer email-

This data set includes the Email address of the customer. It is the personal identifiable information of the customer. It is a varchar data set.

**Country- **

The country data set gives the information about which country the customer belongs to. It is a character data set .We got data from more than two hundred countries.

Gender–

This data set is a categorical (string) dataset. It includes the gender of the customer. It's given 1 for male and 0 for female. There are two hundred and fifty three males and two forty seven females.

Age-

It is a numerical data set which includes the age of the customer.

**salary- **

Different income ways is been plotted like basic pay, benefits, total pay etc....

Credit card debt-

Generally, credit card debt refers to the accumulated outstanding balances that many borrowers carry over from month to month. It is also a float data set.

Net worth-

It is a pers...

Hong Kong had the highest prices for premium gasoline (95-RON) on August 4, 2025. That day, prices averaged 3.58 U.S. dollars per liter, which was notably more than in any other country. While oil-rich countries enjoy some of the lowest gasoline prices, drivers in big car markets such as Europe pay around two U.S. dollars per liter.