The used car market in Europe.

The used car market in Europe is showing signs of significant change, with varying dynamics across countries. In France, the trend for early 2024 is encouraging, while Belgium saw a notable decline in the previous year. Car imports and exports in Europe have also seen a strong increase, reflecting significant changes in the sector. Here is a detailed look at these trends.

Trends in the French used car market.

In France, the used car market started 2024 on a positive note. In January, the volume of transactions increased by 3.6%, reaching a total of 425,340 units. This dynamic contrasts with the previous year, when sales had stabilised at 5.3 million units, with a slight decrease compared to 2022. This level of stability, despite a slight decrease, underlines the resilience of the French market in the face of economic challenges.
However, the French used vehicle market had an exceptional year in 2021, breaking all records with almost 6 million vehicles registered. This remarkable performance, with growth of 8.1% compared to 2020, reflects strong demand and a dynamic sector. Recent figures suggest that, although the market has experienced fluctuations, it remains vigorous and could continue to grow in the near future.

Situation of the Belgian used vehicle market.

In Belgium, the trend has been less favourable. In 2022, the used vehicle market ended the year with a significant decrease of almost 10%, totalling 642,669 registrations. This decline of 9.4% compared to the previous year indicates a notable weakening of the Belgian market, contrasting with previous performances where the market had shown more marked stability.

Vehicle imports and exports in Europe.

At European level, vehicle import and export figures show impressive dynamics.

In 2024, used car prices have experienced a notable decline. In the first quarter of the year, the average price of used vehicles fell by 2.6%, from EUR 21,900 to EUR 20,990, a reduction of approximately EUR 910.

These trends show that, despite the disparities between the different European markets, there is potential for growth and dynamism in the used vehicle sector in Europe. Regional variations highlight the importance of closely monitoring local developments while assessing general trends at European level. The recovery in some countries and the increase in imports suggest continued adaptation to economic developments and consumer preferences.