Switzerland Used Car Market

Switzerland Used Car Market Overview:

The Switzerland used car market is projected to exhibit a growth rate (CAGR) of 5.30% during ​2024-2032​. The extensive demand for affordable mobility solutions, technological advancements, and the development of applications represents some of the key factors driving the growth of the market.

Switzerland Used Car Market Trends:

Robust Demand for Affordable Mobility Solutions

One of the major factors that have contributed to the expansion in the sale and supply of used cars in Switzerland is the increased need for economic mobility in the country. This can be attributed to the soaring prices of new cars. According to industry reports, The Switzerland Used Car Market size is estimated at USD 4.80 billion in 2024, and is expected to reach USD 6.73 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029). This trend is especially widespread among the young and the first-time car owners who care more about the cost of a car than its other characteristics. Moreover, the certified preowned programs offered by the dealerships have gone a long way into convincing the consumer to opt for used cars as they are subjected to rigorous checks and tests, which includes warranty and guarantees assuring the customer of the car’s quality. The shift among consumers towards more economical and reliable modes of transportation is seen as a driving force behind the growth of the used car market in Switzerland.

Technological Advancements and Digital Marketplaces

Advancements in technology, including the adoption of digital platforms, are significantly influencing the used car market in Switzerland. Emil Frey Digital and Mercedes-Benz have forged a partnership to further enhance the digital experiences and solutions that underpin the international distribution of Mercedes-Benz vehicles and services. The two companies will work together on a new digital platform that will combine the best practices and solutions of Emil Frey Group and Mercedes-Benz. Technological advancements, such as use of social media and the development of applications, have made it easier to sell or buy used cars than before. These digital tools give detailed insights about the car history, price comparison, and detailed inspection for the cars, hence enabling the buyers to have better insights. Similarly, data analytics and artificial intelligence offer a greater way of matching the buyers with the most appropriate vehicle to suit their need, making the whole process of purchasing a vehicle a satisfying one. For instance, in 2022, AutoScout24, one of the leading online marketplaces in Switzerland received around 25 million visitors. The marketplace advertised more than 7,50,000 vehicles in 2022.

Switzerland Used Car Market News:

• In July 2023, Volkswagen Financial Services AG acquired a 50% stake in movon AG, a subsidiary of AMAG Leasing AG in Switzerland. This acquisition allows AMAG Leasing to concentrate on fleet leasing and providing full-service solutions equipped with digital tools for fleet owners and dealers.
• In May 2023, ALD Automotive took over 100% ownership of LeasePlan, a global leader in fleet management and mobility. This acquisition is set to enhance ALD Automotive's digitization efforts in the sales of new and used cars.
   

Switzerland Used Car Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on vehicle type, vendor type, fuel type, and sales channel.

Vehicle Type Insights:

• Hatchbacks
• Sedan
• Sports Utility Vehicle
• Others
   

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes hatchbacks, sedan, sports utility vehicle, and others.

Vendor Type Insights:

• Organized
• Unorganized
   

A detailed breakup and analysis of the market based on the vendor type have also been provided in the report. This includes organized and unorganized.

Fuel Type Insights:

• Gasoline
• Diesel
• Others
   

The report has provided a detailed breakup and analysis of the market based on the fuel type. This includes gasoline, diesel, and others.

Sales Channel Insights:

• Online
• Offline
   

A detailed breakup and analysis of the market based on the sales channel have also been provided in the report. This includes online and offline.

Regional Insights: 

• Zurich
• Espace Mittelland
• Lake Geneva Region
• Northwestern Switzerland
• Eastern Switzerland
• Central Switzerland
• Ticino
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Zurich, Espace Mittelland, Lake Geneva Region, Northwestern Switzerland, Eastern Switzerland, Central Switzerland, and Ticino.  

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Switzerland Used Car Market Report Coverage:

Key Questions Answered in This Report:

• How has the Switzerland used car market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Switzerland used car market?
• What is the breakup of the Switzerland used car market on the basis of vehicle type?
• What is the breakup of the Switzerland used car market on the basis of vendor type?
• What is the breakup of the Switzerland used car market on the basis of fuel type?
• What is the breakup of the Switzerland used car market on the basis of sales channel?
• What are the various stages in the value chain of the Switzerland used car market? 
• What are the key driving factors and challenges in the Switzerland used car?
• What is the structure of the Switzerland used car market and who are the key players?
• What is the degree of competition in the Switzerland used car market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Switzerland used car market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Switzerland used car market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Switzerland used car industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.