European used-car markets end 2024 on a high

18 February 2025

Europe’s big five used-car markets ended 2024 with growth across the year. While the fourth quarter results for four markets remained strong, one country saw a worrying trend develop. Autovista24 special content editor Phil Curry examines the data.

The strength in these European used-car markets is in stark contrast to the performance of the new-car sector. Only two markets saw growth in this area during 2024. It appears drivers are continuing to turn to older models as supply increases.

With new-car markets struggling, supply into the used-car sector could be limited. Additionally, there were fewer cars sold between 2020 and 2022, due to the COVID-19 pandemic and supply-chain crisis. This means there may be fewer models currently available.

Used cars falter in France

In France, the used-car market saw a slight decline in the fourth quarter of 2024. With 1.35 million transactions, figures were down by 0.3%, according to industry association AAA Data.

While October saw a 3.5% improvement with 489,253 transactions, figures in November declined by 2% to 432,542 sales. This was followed by a 2.8% drop in December as 426,485 cars changed hands, according to Autovista24 calculations. This made the three-month period the worst of the year for the country.

The result meant the French used-car market ended 2024 up by 3%, thanks to 5.35 million sales. The third quarter of the year proved to be the most successful for the country, with a 6.3% increase in transactions. This helped the figures from the second half of 2024 rise 2.8% compared to the same period in 2023.

Yet, this 3% growth was the smallest of the big five European markets. While the country’s new-car figures struggled throughout 2024, the used-car sector bounced back, following a difficult 2023. The French automotive sector will be hoping that 2025 can bring stability to both markets.

BEV used-car building

While registrations of new battery-electric vehicles (BEVs) fell 2.6% in France last year, transactions of used BEVs soared. Vehicles adhering to the country’s ‘Crit’Air 0’ sticker, made up of zero-emission models, saw sales rise 54% across the year. This gave the category a 2.5% market share.

This improvement could continue. Social leasing potentially being extended to used BEVs and ‘Crit’Air 3’ models could be banned from certain city centres. Drivers may therefore turn to the technology, finding it financially and environmentally beneficial for daily use.

In 2024, it was models adhering to the ‘Crit’Air 1’ sticker that led the used-car market in France. This covers petrol cars registered since 2011. The segment saw transactions improve 18% over the year, with a share of 36%.

Next came the ‘Crit'Air 2’ models, covering petrol from 2006 to 2010, and diesel from 2011, with a 34% share. However, sales of these vehicles declined by 1% in the year.

‘Crit’Air 3’ models, made up of petrol cars registered from 1997 to 2005, and diesel from 2006 to 2010, represented 19% of transactions. This was, however, down by 8% year on year.

The results meant the average age of a passenger car in the French car parc increased to 12 years in 2024. With the turbulence in the new-car market, drivers are turning towards older models, keeping them in circulation for longer.

Used car gains in Germany

Germany’s used-car market also saw growth in the fourth quarter of 2024. While the country’s new-car market struggled, with a 0.7% decline between October and December, transactions of used cars improved by 5%. This means that 1.55 million sales took place, according to data from the KBA.

October was the strongest month of the period, with transactions improving by 10.9% to 574,700 units. November saw stability, with 532,667 sales equating to a 0.3% improvement. December’s figures were up 3.5%, with 446,675 cars changing hands.

The second half of the year saw a 6.3% improvement overall, following an 8.6% rise in the first six months of 2024. This meant that across the full year, the German used-car market increased by 7.4%, with almost 6.48 million transactions.

Only March and June saw sales fall, each recording a 1.5% decline. The best month for growth was April, with figures bouncing back after the early Easter, and transactions rising 27.5%.

The results are in stark contrast to the country’s new-car market, which declined 1% in 2024. The fourth quarter of the year saw registrations fall 0.7%, while figures in the last half of the year declined 7%.

Spain soars ahead

Spain’s used-car market met its forecast in 2024, as the fourth quarter provided the best growth of the year. According to figures provided by industry body GANVAM, and analysed by Autovista24, Spanish transactions rose 12.3% between October and December.

In total 558,445 units changed hands. October was the best month of the quarter, with 201,460 units producing an 18.6% improvement. This was followed by a 12.7% rise in November, with 189,290 units sold. Then came a 6.1% rise in December, as 197,695 units changed hands.

The country recorded an overall improvement in 2024 of 9.6%, with 2.07 million transactions. Like Germany, the market only recorded two drops in the year. March saw figures fall by 10.9%, and June registering a 5.5% decline.

According to GANVAM, the country’s used-car market was led by diesel powertrains. The fuel type captured 52.5% of sales, with petrol the second most popular powertrain, representing 37% of transactions.

Meanwhile, BEVs took a 0.9% market share, with sales increasing 54.7% in the year.  Plug-in hybrids (PHEVs), which accounted for 0.9% of 2024’s total, grew by 82.4% by the end of the year.

The average age of used cars sold in Spain in 2024 was 11.2 years, remaining stable on 2023. GANVAM suggests this highlights the economic difficulties that the average citizen has in accessing efficient mobility solutions.

The body is advocating for young used vehicles to be included in incentive plans,  guaranteeing affordable zero and low-emission mobility.

UK remains positive

Across the last three months of last year, the UK used-car market grew 4%, according to data from the SMMT. October recorded a 6.9% rise with 669,319 transactions, while November saw figures improve by 3.6% with 607,483 sales.

However, there was a slowdown in December, with transactions up just 0.6% as 469,249 cars changed hands. In total, there were almost 1.75 million sales in the three-month period.

The fourth quarter was the weakest of the year. However, this is a traditional slow point in the country’s market. The last six months of 2024 saw growth of 4.2%.

The results meant the UK used-car sector ended 2024 up by 5.5%, as 7.64 million models changed hands. The country was the only one of Europe’s big five to see growth in each month of the year.

BEV demand rises

Demand for used BEVs rose 57.4% last year, achieving a record 188,382 units. This gave the technology its highest-ever used-car market share, of 2.5%. This was up from 1.6% in 2024 and is 13 times higher than the figure recorded in 2019.

The used-BEV market may grow even quicker in 2025 with Vehicle Excise Duty being added to new models. Many models may also be affected by the Expensive Car Supplement (ECS). This will increase ownership costs for the first six years of a vehicle’s use. So, drivers who want a BEV will turn to older models, which are exempt from the ECS.

Sales of plug-in hybrids (PHEVs) also grew, improving by 32.2% with 92,120 units. Meanwhile, full hybrids (HEVs) surged by 39.3%, reaching 306,114 units. Combined, the number of used electrified vehicles changing hands increased by 43.6% on 2023. More than half a million of these models accounted for 7.7% of sales.

Meanwhile, petrol and diesel cars accounted for 92.1% of all used car transactions, down slightly from 94.4% last year. Petrol remained dominant, up 7% to represent 57.1% of the market. Diesel transactions dropped by 2.7%, accounting for 35% of sales.

Increases in Italy

Italy’s used-car market also achieved a successful finish in 2024, with an 8.1% improvement in the fourth quarter. This is according to the latest data from industry body ANFIA. Out of the big five, the three-month period was second only to Spain in terms of growth, with a total of just over 1.48 million transactions.

October was the strongest month in the period, with a 10.5% improvement, thanks to 543,265 sales. November saw figures struggle, albeit recording growth of 0.6% with 469,313 transactions. However, the year ended strongly, with 471,225 cars changing hands in December, up 13.7%.

This performance helped Italy to an 8.1% rise in used-car transactions across the year. A total of almost 5.47 million sales were recorded in the country. Like Spain and Germany, the market saw only two months of declines in the year, with March down 2%, and August dropping 1.9%.

This performance is again in contrast to the country’s new-car market, which struggled towards the end of 2024. A run of five consecutive declines meant registrations finished 0.5% down year on year.

The figures across each of the big five markets suggest that the used-car sector is more robust than that of new cars. Growth in transactions from France, Germany, Spain, the UK and Italy all outpaced new-car registrations.

Supply into these channels is likely to increase thanks to the new-car recovery of late 2022 and 2023, meaning further growth could be expected this year.