The shift towards the E-commerce sales channel and amplified geographical expansion model by the used car dealerships has driven the growth of the used car market in France.
Surge In-Sourcing Of Used Cars From Rental Companies: The revenue of the Car Rentals segment accounts for EUR 1,120 Million in 2019. The market is anticipated to grow roughly around a 3.0% growth rate from 2019 to 2023, resulting in a surge in the used car market in France due to the rising availability of cars. The private customers have developed an interest in the used cars provided by rental companies owing to the certified documentation provided by these rental companies on the used cars. The sale of used cars to private customers was witnessed to increase in the past few years. The car rental companies have also increased the purchase of used cars in France. The used car allows cheaper rental offers, becoming more and more an affordable and appreciated option.
Accessibility of Financing Options: Companies operating through organized channels have tie-ups with banks and related financial institutions, thereby providing their customers with added financial assistance. As a result, leading to increased used car sales in France. The values of individual automotive loans delivered by specialized credit, institutions are EUR 3,538 Million for used cars and EUR 2,343 Million for new cars in France in 2018. This clearly signifies that the financing services are adopted more for used cars as compared to the new cars in the country as of 2017. France used car dealerships were not providing the financing options in the past few years as their primary focus was on the sale of the used car, owing to which the customers had to finance their used cars from banks which charged a huge interest rate. With the availability of car financing options at the dealerships over the years have eased the purchase of a used car in France for the customers.
Emergence of multi-brand showrooms and OEM-Certified: It was observed that the multi-brand dealers dominate as compared to the OEM-Certified dealers in terms of sales volume in France used car market, recording a CAGR of approximately 11% during the review period 2018 to 2023. This will lead to a wide variety of used car brands and models to choose from the convenience of the customers’ preferences.
Analysts at Ken Research in their the latest publication “France Used Car Market Outlook to 2023–Market Structure (Organized and Unorganized Market); Organized Sales Channels (Multi-Brand Dealerships and OEM Certified Dealerships) and Unorganized Sales Channels (Customer To Customer and Local Dealerships), and By Lead Generation (Dealership Walk-ins and Online)” believed that the used car industry in France will augment owing to the rising penetration in the online used car portal, increase in organized dealership chains and stringent inspection process. This rise is expected to boost the demand for used cars in the country owing to the increased availability of financing options across the nation. The market is expected to register a positive double-digit CAGR of 8.9% in terms of Gross Transaction Value and around 3.5% in terms of used cars during the forecast period 2018-2023.
Key Segments Covered:-
Market Structure
Organized Sector
By Sales Channel (Multi-Brand Dealers and OEM-certified Dealers)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)
Unorganized Sector
By Sales Channel (C2C and Local Dealerships)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)
Type of Used Cars
MPVs / Sedans
Economy / Hatchbacks
SUVs
Kilometers Driven
Less than 5,000 km
5,000-20,000 km
20,000-50,000 km
50,000-80,000 km
80,000-120,000 km
Above 120,000 km
Ownership Period
< 6 Years
6 to 10 Years
11 to 15 Years
> 16 Years
Key Target Audience
Offline Dealers
Online Portal
Organized Multi Brands Dealers
OEM Certified Dealerships
Online Portal
Private Equity and Venture Capitalist
Industry Associations
OEM Manufacturers
Automotive Manufacturers
Car Auction Companies
Time Period Captured in the Report:-
Historical Period - 2013-2018
Forecast Period - 2018-2023F
Online Companies Covered:-
Aramisauto
Autoscout24
La Centrale
Paru Vendu
Leboncoin
BYmyCAR
Auto-selection
Offline Companies Covered:-
Emil Frey France
Geudet
BYmyCAR
Bernard Automobiles
Car Avenue
Maurin
Jean Rouyer Automobiles
Key Topics Covered in the Report:-
France Used Car Market
Aramisauto used cars Market Competitors France
Auctioning Revenue of Used Cars in France
Auto-selection France Used Car Market Analysis
Average Car Sales per Branch Yearly In France
Average price of used car in France
Best Selling Used Cars Market in France
Car Avenue Offline Market Analysis
Car parc Market France
Commission in used car market France
Emil Frey France Used Car Market Growth Rate
France Audi Used Car Market Share
France Autoscout24 Car Market Revenue
France Citroen used car Market Growth Rate
Used Car financing Market France
Used Car Market Competition in France
Used Cars for Sale in France
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Related Reports by Ken Research:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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