ABN AMBRO: Used car market set to explode – why used cars are becoming even more popular

300,000 additional occasions per year

ABN Amro predicts that the number of used cars sold will grow from 2.1 million in 2024 to 2.4 million in 2030. The cause? The population will grow robustly in the coming years and more and more Dutch people want a car in front of their door. In addition, car dealers are focusing more often on selling used cars, because they can earn more on them than on new cars.

Electric used cars on the rise

ABN Amro also expects electric used cars to find new owners more and more quickly. Falling prices play a major role in this. Electric cars are developing at lightning speed, making them technologically obsolete and depreciating significantly. The result is a used market full of affordable electric cars, which means that private individuals are more likely to choose a used EV.

More exports than imports

But it hasn’t reached that point yet. The used EV market for individuals is currently on hiatus. For the first time in history, the Netherlands exported more used electric cars last year than it imported. According to economists at ABN Amro, this is due in part to the phasing out of tax breaks. Now that subsidies and tax breaks have largely disappeared, an electric used car is much less attractive.

Law changes

Not only subsidies play a role. Changes in motor vehicle tax, purchase tax and additional taxable income when leasing also influence the used car market. “These changes make used electric cars less attractive, requiring car dealers to adjust their strategies to remain competitive,” ABN Amro says.

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