Germany Used Car Market Trends

The used car industry is expected to grow in the coming years as new car sales decline due to the ban on diesel and petrol vehicles. The increased use of car financing and insurance options at German used car dealerships will result in significant growth in the used car market. In contrast, the country would see an increase in used car dealerships, resulting in increased availability of used cars for customers. According to Motorway, an online used car marketplace, the sale of used diesel cars increased by 21% between May and June, compared to a 13% increase in petrol cars. For instance,

• As part of the European Union's strategy to cut carbon emissions by 55 percent by 2030 compared with 1990 levels, it has recommended a 100 percent emissions reduction from new cars by 2035, a requirement that would make it difficult to sell the new petrol or diesel vehicles.

With the implementation of more stringent emission standards by governing bodies, the pries of new vehicles are increasing significantly. This in turn is encouraging the adoption of used vehicles among consumers, which are signficantly less expensive. Further, as the electric vehicles have witnessed a growth in recent years, significantly less number of electric vehicles are available in the used cars market. Therefore, gasoline and diesel vehicles are expected to hold major share in the market during the forecast period.