Italy Used Car Market Size (2024 - 2029)

The market size of the used car industry in Italy has been significantly impacted by the COVID-19 pandemic, with disruptions to the supply chain and transportation causing a decrease in the number of models available for purchase. However, as the situation started to improve, the market size began to expand again, driven by demand from low and mid-income consumers. Factors such as the growing demand for luxury cars, shorter car ownership periods, a surge in import-export activities, and a preference for upgrading from two-wheelers to small and compact cars are expected to drive market growth. Additionally, the trend of digitization and the increasing acceptance of electric and hybrid used cars, coupled with easy availability of financing options, are likely to offer new opportunities for market expansion in the coming years.

Home Market Analysis Automotive Research Vehicles Research Vehicle Ownership Research Pre-owned Vehicles Research Pre-owned Passenger Cars Research Used Car Market in Italy Market Size

Market Size of Italy Used Car Industry

Italy Used Car Market Overview
Study Period 2018 - 2028
Base Year For Estimation 2021
Forecast Data Period 2024 - 2028
Historical Data Period 2018 - 2020
CAGR 9.00 %
Market Concentration Medium

Major Players

Italy Used Car Market Key Players

*Disclaimer: Major Players sorted in no particular order
setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Italy Used Car Market Analysis

Italy Used Car Market was valued at USD 60 Billion in 2021 and is projected to grow at USD 100.63 Billion by 2027, registering a CAGR of 9% in terms of revenue during the forecast period (2022-2027).

The outbreak of COVID-19 affected the automotive industry significantly. With supply chain disruption and transportation halt, new additions to the used car inventory were not coming into the market. This reduced the number of models available for purchase, influencing the overall purchases. However, during the later stages of 2021, the market started reverting to the pre-pandemic situation, increasing opportunities for the used car market across the country with a major push from low and mid-income consumers.

The growing demand for luxury cars, shorter car ownership periods, booming import-export, and a growing preference for two-wheeler owners to upgrade to small and compact cars are expected to drive demand in the market.

Further, growing trend of digitization across the country is likely to influence positively the sales of used cars during forecast period. Moreover, factors such as surge in the demand for younger used cars, easy availability of financing options, acceptance of electric and hybrid used cars and others expected to offer new opportunities for players operating in Italian market over coming years. 

Italy Used Car Industry Segmentation

A used Car is a pre-owned vehicle that has previously had one or more retail owners. These cars are sold through a variety of outlets through independent dealers, online sales channels, and others.

Italy Used Car Market is segmented by car type, by propulsion, and by vendor type. Based on the car type, the market is segmented into Hatchback, Sedan, and SUV. Based on the Propulsion, the market is segmented into Internal Combustion engines and Electric.

Based on the Vendor type, the market is segmented into Organized and Unorganized. For each segment, the market sizing and forecast have been done on the basis of value (USD Billion). 

By Car Type
Hatchback
Sedan
SUV
By Propulsion
Internal Combustion Engine
Electric
By vendor Type
Organized
Unorganized

Italy Used Car Market Size Summary

The Italy Used Car Market has experienced significant growth, with a notable increase projected for the upcoming years. The market, which was already substantial, is set to expand even further due to factors such as the growing demand for luxury cars, shorter car ownership periods, a boom in import-export, and a rising preference for two-wheeler owners to upgrade to small and compact cars. The COVID-19 pandemic initially disrupted the automotive industry, reducing the number of models available for purchase. However, as the situation began to normalize, the market started to recover, creating more opportunities for the used car market, especially from low and mid-income consumers. The market is also being positively influenced by the growing trend of digitization across the country. This trend is expected to boost the sales of used cars during the forecast period. Factors such as the surge in demand for younger used cars, easy availability of financing options, and acceptance of electric and hybrid used cars are expected to offer new opportunities for players operating in the Italian market. The strengthening of online infrastructure is also likely to have a positive impact on the market, with facilities such as an enormous number of photos and videos on the online platform and easy online instant finance service expected to attract more customers. The presence of online used car platforms and their active engagement strategies are also driving demand in the market.

Explore More

Italy Used Car Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value (USD Billion)

    1. 2.1 By Car Type

      1. 2.1.1 Hatchback

      2. 2.1.2 Sedan

      3. 2.1.3 SUV

    2. 2.2 By Propulsion

      1. 2.2.1 Internal Combustion Engine

      2. 2.2.2 Electric

    3. 2.3 By vendor Type

      1. 2.3.1 Organized

      2. 2.3.2 Unorganized

Italy Used Car Market Size FAQs

The Italy Used Car Market is projected to register a CAGR of 9% during the forecast period (2023-2028).

Penske Automotive Italy, Italy Blue Auto Sales LLC, CAVAUTO Group, Auto1.Com and Carvago are the major companies operating in the Italy Used Car Market.

Italy Used Car Market Report Snapshots