Spain Used Car Market is Expected to reach around EUR 45.0 Billion in terms of Gross Transaction Value (GTV) by 2023: Ken Research

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The report focuses on overall market size in terms of Gross Transaction Value (GTV), Spain Used Car market segmentation by Market Structure (Organized and Unorganized Market); by Type of Used Cars (Hatchback, Saloon-4 doors, Hatchback-5 doors, People Carrier, SUV, Estate, Van, and others); by 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 and Above 120,000 km); Ownership Period (Less than 1 Year, 1 to 3 Years, 3 to 5 Years, 6 to 10 Years and More than 10 Years); and By Car Make (Renault, Citroen, SEAT, Peugeot, Ford, Opel, Volkswagen, Mercedes, Nissan, Audi and others). Major players operating in the Spain Online Used Car market include Webycar, Clicars.com, AutoScout24 and others. Major players operating in the Spain Offline Used Car market include Berge, Global Car Centre, Viva Autos, Occasion Plus and others.

Spain Used Car Market

Key Findings

The used car sales in terms of volume is expected to increase in the future thus, grabbing a positive CAGR of approximately 7.0%, due to boost in used car sales through the online car portals.

Diesel lost 35% points of share in the new car market between 2010 and 2018. The decline in diesel cars is further expected to decrease the total number of new and used car sales in the near future.

In the unorganized sector, the sale of used cars is anticipated to increase during the forecast period 2018 -2023, at a CAGR of 11.7% in terms of sales volume due to more adoption of the online car portals by OEM dealers and used car customers in Spain.

Online Space gaining Traction in Spain: The Spanish OEMs are using digitalization to increase dealers’ used car sales volume. The quest for increased efficiencies within the asset management and vehicle re-marketing industry over the past few years has meant the market has embraced digitalization. The online space of Spain used car market and is anticipated to experience a CAGR of approximately 34% in terms of sales volume during the forecast period 2018 to 2023.

Elevation in After-Sales Services in Spain: Surge in the adoption of car financing and insurance options at the used car dealerships in Spain will lead to a significant growth in the used car market. The availability of these services in the online car portals also attracts the crowd due to feasibility and convenience factors. The growth of Spain used car market is especially due to availability of additional after-sales services such as insurance and financing options which results in increased demand for used cars in the country.

Emergence of multi-brand showrooms and OEM-Certified: It was observed that the multi-brand dealers will dominate the Spain used car market as compared to the OEM-Certified dealers in terms of sales volume, recording a CAGR of approximately 18% during the review period 2018 to 2023. Dominance of multi-brand dealers in Spain will be majorly due to further shift of OEM-certified dealers to multi-brand dealerships. 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 latest publication Spain Used Car Market Outlook to 2023 – Growth within Car Rental Companies Coupled with Shared Vehicle Mobility Segment to drive Used Car Sales Volume in Spainbelieve that the used car industry in Spain 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 positive CAGR of approximately 11.7% in terms of Gross Transaction Value and around 6.8% in terms of used cars sales volume 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, Online Portal and Local Dealerships)

By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Type of Used Cars

Any Saloon/ Hatchback

Saloon (Sedan) – 4 doors

Hatchback- 5 doors

People Carrier

SUVs

Estate

Van

Hatchback- 3 doors

Coupe

Saloon (Sedan) – 2 doors

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

< 1 Year

1 to 3 Years

3 to 5 Years

6 to 10 Years

>  10 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 – 2018-2023

Online Companies Covered:

Webycar

Clicars.com

Yamovil

AutoScout24

OcasionPlus

Autofesa

Autos Costa Mar

Ollmax

Mia Cars

Offline Companies Covered:

Quadis

Berge

Salvador Caetano

Global Car Centre

OcasionPlus

Viva Autos

Key Topics Covered in the Report

Introduction to the Spain Used Car Market

Spain Used Car Market Size, 2013-2018

Spain Used Car Market Segmentation, 2018

Trends and Developments in Spain Used Car Market

Issues and Challenges in Spain Used Car Market

Used Car Market Supply Chain

Spain Used Car Auction Market

Online Comparative Landscape in Spain Used Car Market

Offline Comparative Landscape in Spain Used Car Market

Government Regulations in Spain Used Car Market

Business Model in Online Used Car /Market

Working Model in the Spain Used Car Market

Success Case Studies- OLX and Dutch Renault Dealer

Spain Used Car Market Future Outlook and Projections, 2018-2023

Analyst Recommendation for Spain Used Car Market

For More Information click on the below mentioned link:

Spain Used Car Market

Related Reports

France Used Car Market Outlook to 2023 – Surge in Demand for Rental Cars Backed by Increased Online Used Car Sales

Germany Used Car Market Outlook to 2023 – Surge in Multi-Brand Dealerships Coupled with Improved Quality and Inspection of Used Cars to boost Used Cars Market

Italy Used Car Market Outlook to 2023 – Led by Surge in Demand for Young Used Cars Coupled with Improved Quality and Inspection of Used Cars

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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