European Used Car Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)
The key players of the European used car market are Arnold Clark Automobiles limited, Lookers PLC, Pendragon PLC and Emil Frey Group are also profiled with their financial information and respective business strategies.
By: Daedal Research
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall European used car market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Arnold Clark Automobiles limited
Emil Frey Group
A used car or a second hand vehicle is a car that has been previously owned or used by more than one owner. Used cars are known for their affordability and low maintenance. As the world progressing towards the eco-friendly vehicles such as electric and hybrid vehicles, and when use of technologies like Big data and use of computer programmed software for dealership management have been increasing, the context of used car is continuously evolving and growing.
These cars could be sold via different types of outlets which include franchise and non-dependent car dealers, buy here pay here dealerships, rental car companies, auctions, leasing offices, and private party sales. The major benefits of used car include cost-friendly, better for the environment, easily upgradable, slower depreciation, cheaper insurance costs, facilitates affordability, and no registration cost.
European used car market is projected to rise in the next four years i.e. 2021-2025 tremendously. The used car market is expected to increase due to rising disposable income, increase in urban population, rising online sales of used cars, growing total population, growing benefits of used car over new car, etc.
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