H. Yoo
Research expert covering South Korea
Used vehicles in Europe - Statistics & facts
As a market influenced by the output and challenges faced by the new car sector, the European used car market has had a few interesting years. The Harmonized Consumer Price Index for used cars in the Euro area has been growing since 2021, when the semiconductor shortage and raw material price hikes led to a decline in new car supply. During this period, used cars’ residual value heightened, meaning these secondhand vehicles tended to be priced closer to the list price they had when purchased new. The index decreased slightly through 2024, and then again in February 2025, which could suggest a decline in prices for this coming year. However, these prices remained higher than those recorded in 2016 and 2017.
