UK Used Car Market Size & Outlook, 2024-2030
UK used car market, 2018-2030 (US$M)
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UK used car market highlights
- The UK used car market generated a revenue of USD 73,388.1 million in 2022 and is expected to reach USD 109,984.8 million by 2030.
- The UK market is expected to grow at a CAGR of 5.2% from 2023 to 2030.
- In terms of segment, conventional was the largest revenue generating vehicle type in 2022.
- Hybrid is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Used car market data book summary
| Market revenue in 2022 | USD 73,388.1 million |
| Market revenue in 2030 | USD 109,984.8 million |
| Growth rate | 5.2% (CAGR from 2022 to 2030) |
| Largest segment | Conventional |
| Fastest growing segment | Hybrid |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hybrid, Conventional, Electric |
| Key market players worldwide | Alibaba Group Holding Ltd ADR, CarMax Inc, Asbury Automotive Group Inc, TrueCar Inc, Scout24 SE, Lithia Motors Inc Class A, Group 1 Automotive Inc, EBay Inc, AutoNation Inc, Hendrick Automotive Group |
Other key industry trends
- In terms of revenue, UK accounted for 4.4% of the global used car market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany used car market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 99,663.4 million by 2030.
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Used Car Market Scope
Used Car Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK used car market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to used car market will help companies and investors design strategic landscapes.
Conventional was the largest segment with a revenue share of 42.64% in 2024. Horizon Databook has segmented the UK used car market based on hybrid, conventional, electric covering the revenue growth of each sub-segment from 2018 to 2030.
In August 2020, the Society of Motor Manufacturers and Traders (SMMT) stated that used car sales decreased in the first six months of 2020. The negated growth can be attributed to the COVID-19 lockdown, which hampered the market growth in the U.K.
The used car sale is expected to grow in the fourth quarter of 2020, according to the Autovista Group. Besides, petrol and diesel cars, alternatively fueled cars (plug-in hybrid, hybrid, batterypowered, and others) are expected to show high traction in coming years.
As per the Auto Retail Trader Index for June 2020, in the recovering phase of the pandemic, the U.K. used-car market has recorded around a 4% rise in the used-car price. According to one of the used car dealers in U.K., The A.A. Cars, the interest in used cars in 2020 has risen to 15 percent higher from the last year.
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Our clientele includes a mix of used car market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK used car market, including forecasts for subscribers. This country databook contains high-level insights into UK used car market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK used car market size, by vehicle type, 2018-2030 (US$M)
UK Used Car Market Share, 2024 & 2030 (US$M)
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