The second-hand vehicle market in France is declining

2023-06-29 16:15:18

A drop in the used vehicle market in the first half of 2023

In France, sales of used vehicles suffered a significant slowdown in the first half of 2023. Indeed, according to AutoScout24, the market recorded a decline of 4.2% compared to the same period in 2022.. French brands have lost market share to German brands, especially those considered premium.

Hybrid vehicles on the rise, prices remain high

Despite the market drop, used car prices continue to climb rapidly due to the shortage of offers, even if they stabilize. In June 2023, used car prices were on average 12.4% higher than in June 2022. Hybrid vehicles are the most expensive, with an average price of €43,843, an increase of 6.2 % since the beginning of the year.

Young second-hand cars are the most important segment but are losing market share

Ads on AutoScout24 recorded an average price of €30,790 in June 2023, while diesel vehicles are still predominant in the second-hand market, with a market share of 52.1%. However, this market share saw a decline of only 1% compared to last year. Hybrid engines recorded the strongest growth, with an increase of more than 10% in volume and 16.7% in market share. Regarding the age of the cars, young second-hand cars (2 to 5 years old) represent the most important segment, with 26.3%, but they have lost 2.1% of market share. The very young second-hand segment (1 year and under) recorded a drop of 14.2% in volume and 10.5%. The segment of older vehicles (+16 years) saw an increase of 8.0% in volume and represented 23.4%.

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