the used car market | Italy

1.1 Definition and scope of the study

A vehicle is considered used if it has been in use for more than 6 months (from the date of first registration) and has traveled more than 6,000 km.

The global used car market size was valued at USD 1,332.2 billion in 2019 and is expected to grow at a CAGR (compound annual growth rate) of 5.5% from 2020 to 2027. The success of used cars in recent years is partly due to the inability of people to buy new cars. Over time, online sales have achieved a significant role in the market. In 2019, online sales reached 22% of total sales.

In Italy, during 2020, the used car market experienced a decline, but from the end of 2020, the trend started to rise again. Between January and September 2020, the used car market contracted by 17.7%. Already in September, the market showed a growth of 18.3%. The market is highly fragmented, with a multitude of players sharing the market. In 2020, environmentally friendly alternatives to fuel will be important. Electric cars account for 2.3% of total sales, while hybrid cars account for 17.9%