Germany Used Car Market is expected to reach about EUR 105 Billion in Gross Transaction Value (GTV) by 2023: Ken Research

Germany Used Car Market By Organized and Unorganized in terms of GTV, Organized Market (Multi-brand Dealerships & OEM Certified Dealerships), By Unorganized Market (C2C, Online Sales and Local Dealers), By Car Make (Volkswagen, Opel, Mercedes, BMW, Ford, Audi, Renault, Skoda, Fiat, Peugeot and others), By Year of Manufacture (<2000, 2000-2002, 2003-2005, 2006-2008, 2009-2012, 2013-2018), By Kilometers Driven (Less than 5,000, 5,000-20,000, 20,000-50,000, 50,000-80,000, 80,000-120,000 and above 120,000) and By Type of used cars (Economy/Hatchback, MPV’s/Sedan and SUV’s). The major companies in the offline Germany used car market include Emil Frey Group, AVAG Holding SE, Dello-Durkop-Hansa-Group, Feser-Graf-Group, Senger Group, Weller Group, Gottfried Schultz, Tiemeyer Automobile Group and others. The major companies in the online used car market include Autoscout24, Mobile.de, Hey Car, Auto.de, True Car, BCA, Webauto.de and others.

The used car sales in terms of volume is expected to increase in the future thereby, growing at a positive CAGR of 1.3%, due to increased penetration of the companies in the online portals for lead generation.

The government of Germany is planning to entirely ban the diesel and petrol cars in the country by 2030, which has lead to a falling new car sales and older used cars. The customers have shifted towards the younger used cars until the electric cars take over the market.

Penetration of multi-brand dealerships and OEM Certified dealerships will contribute to the growth of Germany used car market in the next few years. The multibrand dealerships are anticipated to grow with a CAGR of 7.0% and the OEM certified dealerships with a CAGR of 2.5% during the forecast period 2018-2023F

Surge in Demand of Used Cars in Germany: The used car industry is anticipated to grow in the next few years owing to the fall in the new car sales due to the ban on the diesel and petrol cars. The German population in not wholly ready to accept the electric vehicles, which will contribute in the growth of the used cars market. The surge in the adoption of car financing and insurance options at the used car dealerships in Germany will lead to a significant growth in the used car market. Whereas, the country would be witnessing a growth in the used car dealerships, leading to an increased availability of used cars for the customers. It is anticipated that the SUV’s would see a growth in the future, whereas the MPV’s/Sedan would see a downfall in the future as they are considered as outdated and out styled in Germany.

Adoption of Buy Sell Model: The Germany used car market was observed to have different sourcing channels of the used cars such as Buysell, Parksell and Trade-in.

Whereas; Buysell was witnessed to dominate the market owing to the higher profit margins earned in this model and the higher customer preference to sell the used cars to the dealers rather than wait for a buyer to buy the used car. In a Buysell model the used car dealership buy the used cars from the seller and store them in its inventory, which is later sold to the buyers of the used car. It is anticipated that the market would witness an increase in the number of dealerships adopting the Buysell model entirely for sourcing the used cars at their dealerships.

Rising Competition: Used car market in Germany was observed to be fragmented with large number of organized and unorganized used car dealers in the country. The used car industry is anticipated to witness a large number of used car dealers in both the organized and unorganized used car industry owing to the growing demand of the customers. Some of the major players in the organized market includes Gottfried-schultz, wellergruppe, AVAG Holding and some of the major players in the unorganized market includes Fahrzeug -werke LUEG AG, Auto Empire Trading and others. The rising competition in future would result in few challenges such as consumer uncertainty which will result downward pressure on new car registrations and also declining trust factor among the customers owing to the larger number of used car dealerships available to choose from.

Analysts at Ken Research in their latest publication Germany Used Car Market Outlook to 2023 - Led by Surge in Multi-Brand Dealerships Coupled with Improved Quality and Inspection of Used Carsbelieve that the used cars industry in Germany has been growing owing to the entrance of new used car dealerships in the country, better services provided by the dealerships such as car financing, insurance, inspection and others, rising number of online used car companies and others. The market is expected to register a positive CAGR of 1.3% in terms of sales volume of used cars and 4.4% in terms of Gross Transaction Value (GTV) during the forecast period 2018-2023F.

Key Segments Covered

By Type of Market Structure:

Organized Market

Multi-brand Dealerships

OEM Certified Dealerships

Unorganized Market

Customer to Customer

Online Sales

Local Dealers

By Car Make:

Volkswagen

Opel

Mercedes

BMW

Ford

Audi

Renault

Skoda

Fiat

Peugeot

Others (Seat, Hyundai, Toyota, Nissan, Mazda, Citroen, Smart, Kia, Mini, Volvo, Mitsubishi, Suzuki, Honda, Dacia, Porsche, Chevrolet, Alfa Romeo, Jeep, Subaru, Land Rover, Chrysler, Jaguar, Daihatsu, DS, Saab, Lancia, Lexus, MG Rover, Ssangyong, Sachsenring, Dodge, Iveco, Ferrari, Maserati, Cadilac, Infiniti, Tesia, Austin and rest)

By Year of Ownership:

<2000

2000-2002

2003-2005

2006-2008

2009-2012

2013-2018

By Kilometers Driven:

Less than 5,000

5,000-20,000

20,000-50,000

50,000-80,000

80,000-120,000

Above 120,000

By Type of Used Cars:

Economy/Hatchback

MPV’s/Sedan

SUV’s

Key Target Audience

Offline Dealers

Online Portal

Organized Multi Brands Dealers

OEM Certified Dealerships

Online Portal

Private Equity and Venture Capitalist

Industry Associations

OEM Manufacturers

Automotive Manufacturers

Car Auction Companies

Time Period Captured in the Report:

Historical Period - 2013-2018

Forecast Period – 2019-2023

Companies Covered:

Online Dealerships:

Autoscout24

Mobile.de

Hey Car

Auto.de

True Car

BCA

Webauto.de

Offline Dealerships:

Emil Frey Group

AVAG Holding SE

Dello-Durkop-Hansa-Group

Feser-Graf-Group

Senger Group

Weller Group

Gottfried Schultz

Tiemeyer Automobile Group

Key Topics Covered in the Report

Germany Used Car Market Introduction

Business Model Prevalent in Germany Offline Used Cars Market

Germany Used Car Market Size

Germany Used Car Market Segmentation

Snapshot on Germany Used Car Auction Market

Decision Making Process for Buying and Selling Used Cars

Trends and Development in Germany Used Car Market

Issues and Challenges in Germany Used Car Market

Snapshot on Germany Online Used Cars Market

Government Regulations in Germany Used Car Market

Competition Scenario in Germany Offline Used Cars Market

Germany Used Car Market Future Outlook and Projections, 2019-2023F

Analyst recommendations

Success Case Studies in India Used Car Market-OLX

For More Information on the research report, refer to below link:

Germany Used Car Market

Related reports

Italy Used Car Market Outlook to 2023 – Led by Surge in Demand for Young Used Cars Coupled with Improved Quality and Inspection of Used Cars

Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Financial Companies and Captives, By New and Used Vehicles Financed, By Type of Vehicle Financed (Motor Bikes, Cars and Light Commercial Vehicles) and By Loan Time Period

Philippines Used Car Market Outlook to 2023- by Market Structure (Organized and Unorganized Market), by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers), by Sales Channel (Online and Dealership Walk-ins), by Average Vehicle Replacement Period and by Major Car Manufacturer Brands

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249