H. Yoo
Research expert covering South Korea
Used vehicles in Portugal - Statistics & Facts
Out of 12 European countries surveyed, Portugal reported the second-highest used car retail price index as of June 1st, 2023. While this price index has decreased since January 2023, used car prices in Portugal remained higher as of mid-year 2023 than on January 1st, 2022. Price inflation deeply impacted the automotive market in Portugal, including its used car segment. In a July 2022 survey, 93 percent of respondents who had purchased a used car reported doing so due to the new car prices. Furthermore, in Portugal, self-reported used car purchase intentions were higher than new car buying intentions as of November 2022. This interest in used vehicles from consumers in Portugal presents hurdles and opportunities for the Portuguese used car market, which relies heavily on European used car imports to sustain this demand.
