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.

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.

View monthly updates and historical trends for US Consumer Price Index: Used Cars and Trucks. Source: Bureau of Labor Statistics. Track economic data with…

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.

Used Car Prices YoY in the United States decreased to 0 percent in October from 2 percent in September of 2025. This dataset includes a chart with historical data for the United States Used Car Prices YoY.

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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

United States Manheim Used Vehicle Value Index: Price Change: YoY data was reported at 4.295 % in Apr 2025. This records an increase from the previous number of 0.396 % for Mar 2025. United States Manheim Used Vehicle Value Index: Price Change: YoY data is updated monthly, averaging 1.576 % from Jan 1998 (Median) to Apr 2025, with 328 observations. The data reached an all-time high of 53.010 % in Apr 2021 and a record low of -13.096 % in Dec 2022. United States Manheim Used Vehicle Value Index: Price Change: YoY data remains active status in CEIC and is reported by Manheim, Inc.. The data is categorized under Global Database’s United States – Table US.I116: Manheim Used Vehicle Value Index.

In November 2024, the used car Consumer Price Index in France reached ******, **** points above 2015 prices. Used car prices had been steadily increasing between December 2021, when the CPI stood at *****. This was the lowest CPI recorded between January 2019 and November 2024.

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.

The Germany Used Cars Market size was valued at USD 125.4 billion in 2024 and is projected to reach USD 198.6 billion by 2032, growing at a CAGR of 5.9% from 2025 to 2032.

Germany Used Cars Market Drivers

Digital Transformation of Used Car Sales: The shift towards online platforms and digital marketplaces has revolutionized used car transactions in Germany. According to the German Digital Economy Association, online used car sales platforms reported a 145% increase in transaction volume between 2021-2023, with 38% of all used car purchases now involving digital platforms in some capacity.

Price Gap Between New and Used Vehicles: The growing price disparity between new and used vehicles has driven more German consumers towards the used car market. The German Federal Motor Transport Authority (KBA) reported that the average price difference between new and 3-year-old used cars increased by 28% in 2023, with used car transactions exceeding new car sales by a ratio of 2.8:1.

Environmental Regulations and Euro 7 Standards: Stricter emission regulations and the upcoming Euro 7 standards have increased demand for recent-model used cars that meet current environmental requirements. The German Environment Agency reported that sales of used cars less than 5 years old with Euro 6d certification increased by 52% in 2023, with these vehicles commanding a 42% premium over older models.

The size of the India Used Car Market was valued at USD 1.8 Billion in 2023 and is projected to reach USD 4.94 Billion by 2032, with an expected CAGR of 15.50% during the forecast period. Recent developments include: August 2022: Lexus, a subsidiary of Toyota, introduced its Lexus Certified Programme in the Indian market. Through this initiative, Lexus India aims to enhance the resale value of existing Lexus vehicles for owners and increase accessibility to Lexus models for new customers., August 2021: Mahindra First Choice Wheels (MFCW) collaborated with CamCom, an AI-powered visual inspection solutions provider, to enable AI-based car inspections. Through this partnership, Mahindra can conduct vehicle inspections and assess damages using advanced AI technology.. Key drivers for this market are: Increasing affordability of used cars compared to new cars

Rising demand for vehicles in rural areas. Potential restraints include: Lack of organized players

Lack of standardized vehicle inspection and certification processes. Notable trends are: Growing popularity of online marketplaces

Increasing demand for used luxury cars.

In the United States, the average selling price for a new light vehicle came to around ****** U.S. dollars in 2024. New light vehicles were about *** percent more expensive in 2024 than in 2023. What is the price of a new car in the U.S.?     New automobiles and light trucks were on around ****** U.S. dollars more expensive than used light vehicles: the average selling price for used vehicles amounted to about ****** U.S. dollars in 2024. This increasing price gap between new and used vehicles is partly linked to the industry's recovery from the semiconductor shortage, which led to higher new vehicle inventory and reduced pressure on the used vehicle market. The semiconductor shortage  The hike in prices across the board recorded in 2022 can be in part attributed to the global automotive chip shortage, which started in 2021 as demand rebounded from the COVID-19 pandemic. The average price rise could be observed across segments, with new full-size SUV/crossover vehicles averaging ****** U.S. dollars as of December 2022.

United States - Producer Price Index by Industry: New Car Dealers: Used Vehicle Sales was 83.20200 Index Dec 1999=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: New Car Dealers: Used Vehicle Sales reached a record high of 164.29000 in November of 2021 and a record low of 67.30000 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: New Car Dealers: Used Vehicle Sales - last updated from the United States Federal Reserve on October of 2025.

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 **** percent year-over-year, reaching around ***** euros in 2022. In contrast, cars between *** and three years old reported a slower inflation, costing approximately ****** euros in 2022—**** percent more than in 2021.

The global used car market, valued at approximately $XX million in 2025 (assuming a logical estimation based on the provided CAGR of 10% and a known market size at an earlier point in time – this would require additional data to give a precise figure), is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) of 10% from 2025 to 2033. This expansion is fueled by several key factors. Increasing vehicle ownership, particularly in developing economies, coupled with the rising preference for more affordable transportation options, significantly boosts demand. Technological advancements, including online marketplaces and improved vehicle inspection services, streamline the buying and selling processes, further accelerating market growth. The shift towards subscription-based car ownership models and the growing acceptance of used vehicles as a viable alternative to new cars also contribute to the market's dynamism. Different vehicle types within the market exhibit varying growth trajectories, with SUVs and MPVs often leading in sales due to their versatility and family-friendly features. The organized sector, encompassing established dealerships and online platforms, is steadily gaining market share from the unorganized sector due to increased transparency, better financing options, and enhanced customer trust. Geographical variations in market performance are evident. North America and Europe currently dominate the market, with mature economies and strong established automotive infrastructures. However, rapid economic growth and rising disposable incomes in Asia-Pacific regions, particularly in India and China, are propelling significant market expansion in these areas, presenting lucrative opportunities for both established and emerging players. Challenges remain, including fluctuations in used car prices influenced by macroeconomic factors, concerns about vehicle reliability, and the growing environmental consciousness driving demand for more fuel-efficient options. Nevertheless, the long-term outlook for the used car market remains positive, with continued expansion anticipated throughout the forecast period. The competitive landscape is fiercely contested, with established global players like Hertz, Cox Automotive, and CarMax competing alongside regional players and emerging online platforms. Strategic acquisitions, technological investments, and expanding service offerings are key strategies employed by companies to gain a competitive edge and cater to evolving consumer preferences. This comprehensive report provides a detailed analysis of the global used car industry, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report forecasts market trends and growth opportunities within the multi-billion dollar sector. The study incorporates historical data (2019-2024), analyzes current market dynamics (2025), and projects future growth (2025-2033). This report is invaluable for industry stakeholders, investors, and anyone seeking to understand the complexities and potential of this dynamic market. Keywords: used car market, used car sales, used car prices, used car industry trends, pre-owned car market, second-hand car market, automotive market analysis, used car valuation, online used car market. Recent developments include: March 2022: TrueCar Inc. launched a new online car-buying marketplace called TrueCar+. TrueCar+ will provide consumers with a more flexible and personalized car buying experience for new and used vehicles., January 2022: General Motors launched Carvago to capitalize on the inflated used car. CarBravo will draw from General Motors' pool of available used cars, along with those of its franchised dealerships., September 2021: Mobil88 launched the Mo88i application to make buying and selling used cars easier. Mo88i is a platform for buying and selling used cars that are trusted, easy, fast, and efficient. This includes car inspections and estimated bid prices. It also ends with financing and vehicle insurance submissions., March 2021: Penske Automotive Group Inc. announced that it adopted CarShop as its global brand for its used vehicle SuperCenters. The company renamed its six used vehicles SuperCenters in the United States from CarSense to CarShop.. Key drivers for this market are: Increasing Demand For Electric School Buses. Potential restraints include: Uncertainty of The Global Pandemic. Notable trends are: Strengthening of Online Infrastructure Positively Affecting the Used Cars Market.

The Canadian used car market is experiencing substantial growth, with a market size of 16.58 million in 2025 and is projected to reach approximately 27.1 million by 2033, expanding at a CAGR of 6.80%. The rise in demand for used cars can be attributed to several factors, including increasing vehicle ownership costs, growing urbanization, and technological advancements. Additionally, the preference for fuel-efficient and environmentally friendly vehicles is driving the demand for used electric and hybrid cars. The market is highly competitive, with both organized and unorganized vendors offering a wide range of vehicles. Online sales channels are gaining popularity, offering convenience and a wider selection to consumers. Major players in the market include CarGurus, Kijiji, Go Auto, and DriveAxis. The market is segmented by vehicle type, vendor type, fuel type, and sales channel. Sedans and hatchbacks are the most popular vehicle types, while organized vendors dominate the market. Petrol and diesel vehicles account for the majority of sales, but electric and hybrid vehicles are gaining traction. The offline sales channel remains the primary mode of distribution, although online sales are growing rapidly. The market is expected to continue its growth trajectory in the coming years, driven by increasing demand for affordable and sustainable transportation options. Recent developments include: August 2023: AutoTrader, announced the integration of artificial intelligence (AI) powered solutions to help Canadian dealerships to sell more cars more quickly and more profitably. The AI has been designed to increase efficiency for dealers as well as spur performance for promoted dealership placements through the AutoTrader.ca listing upgrade product portfolio., July 2023: Clutch, a Canadian used car online platform, announced that it is in the advanced stages of securing funding that would slash its valuation to a tiny fraction of its USD 575-million peak in late 2021. The company is in the process of raising a USD 20 million deal led by past backer Stamford, Conn.-based Canaan Partners that would value the company, before the receipt of the new funds, at USD 15 million., March 2023: To promote selling used cars online, Clutch implemented a new plan wherein the online used car retailer, as part of their marketing strategy, will provide a free Apple watch to any seller who is selling their used car online, provided that the model is made in 2016 or after, and the car has a mileage under 120,000 km., November 2022: PAVE, an automated vehicle inspection platform, announced that CarDoor, a Canadian-based online car retailer, has commenced using the services of PAVE to provide condition transparency for consumer at-home vehicle sales and trade-ins. PAVE assists in streamlining the entire process for CarDoor by using consumer-generated photos of vehicles to return accurate condition-adjusted trade-in and sale values.. Key drivers for this market are: Rising Adoption of Digital Technologies, Others. Potential restraints include: Presence of Various Used Car Dealerships in the Market. Notable trends are: Rising Adoption of Digital Technologies Will Foster the Growth of the Target Market.

United States Manheim Used Vehicle Value Index: Price Change: sa: MoM data was reported at 2.730 % in Apr 2025. This records an increase from the previous number of -0.718 % for Mar 2025. United States Manheim Used Vehicle Value Index: Price Change: sa: MoM data is updated monthly, averaging 0.078 % from Feb 1997 (Median) to Apr 2025, with 339 observations. The data reached an all-time high of 9.236 % in Oct 2021 and a record low of -11.409 % in Apr 2020. United States Manheim Used Vehicle Value Index: Price Change: sa: MoM data remains active status in CEIC and is reported by Manheim, Inc.. The data is categorized under Global Database’s United States – Table US.I116: Manheim Used Vehicle Value Index.

The Thailand Used Car Market size was valued at USD 5.22 Billion in 2024 and is projected to reach USD 9.06 Billion by 2032, growing at a CAGR of 7.5% from 2025 to 2032.Thailand Used Car Market DynamicsThe key market dynamics that are shaping the Thailand used car market include:Key Market DriversDigital Transformation in Used Car Sales: The rapid adoption of online platforms and digital marketplaces has revolutionized Thailand's used car buying experience, making it more accessible and transparent for consumers. According to the Thailand Automotive Institute, online used car transactions increased by 156% between 2021-2023, with 42% of all used car purchases now involving digital platforms in some capacity.Economic Pressures Driving Value-Seeking Behavior: Rising inflation and economic uncertainties have shifted consumer preferences towards used vehicles as a more cost-effective alternative to new cars.

Used vehicles in the United States in 2022 were over double the price of used vehicles in January 1997. This was an increase of **** points compared to the price index recorded in 2021. This rapid price growth is partly due to a depletion in used vehicle inventory linked with the global chip shortage.

South Africa Used Car Market size was valued at USD 21.68 Billion in 2024 and is projected to reach USD 45.63 Billion by 2032, growing at a CAGR of 9.75% from 2026 to 2032.

Key Market Drivers

Rising Cost of New Vehicles: The rising prices of new vehicles in South Africa are driving consumers toward the used car market as a more cost-effective alternative. According to Statistics South Africa (Stats SA), new vehicle prices increased by 6.1% year on year in 2023, greatly surpassing the overall inflation rate. According to the National Association of Automobile Manufacturers of South Africa (NAAMSA), the average new car price in South Africa exceeded R450,000 by 2023, making used cars an increasingly attractive option for budget-conscious consumers.

Growth of Online Marketplaces: The proliferation of digital platforms dedicated to used car sales has transformed the market by increasing transparency and convenience for buyers. According to data from the Automotive Industry Development Centre (AIDC), online used car transactions climbed by 37% from 2021 to 2023. According to the South African Digital Economy Assessment, roughly 65% of used car transactions now involve some type of online research or transaction, with specific automotive platforms witnessing annual user growth of more than 40%.