Thank you, Nicolas. So now here is a snapshot of Aramis in 2024. So I won't go into all the figures. But in a nutshell, we are a European group operating in 6 countries, delivering an exceptional customer experience to over 110,000 customers. With industry refurbished cars, which are the best option out there. They are affordable, they're reliable, they're safe, they have limited impact and also pre-registered cars that now represent 20% of our business. This makes us a leader both in terms of sales, but also in terms of customer satisfaction. Thanks to an incredible team, as Nicolas has just mentioned that are super knowledgeable and locally have a very big field expertise. We're also leading the pack in terms of financials, as Fabien will explain later.
We delivered the highest gross profit per unit of listed company in Europe. We have the lowest operational working capital in Europe, and we will continuously improve that and Nicolas will explain later on how our unique model enables us to do that. So this morning, we will explain. Number one, we have a vast market, full of opportunities. It's really the most exciting B2C market out there. Number two, Nicolas will dive into how we became the leaders. He said it's a combination of vertical integration, our clear operating system and the Aramis performance engine, which gives us very difficult to replicate competitive advantages.
And third, we'll get into our strategy for sustainable, profitable growth. We'll tell more afterwards. And then afterwards, Fabien, our CFO, will get deeper in the numbers to explain how we will deliver profitable growth and cash generative growth.
So we have a clear powerful model, with a clear strategy. This leads us to our financial objectives. As Nicolas said, we're entrepreneurs, okay? We believe we can build a huge and very profitable company in our field. When we started working with Stellantis in -- well, PSA at the time, in 2016, we were doing EUR 360 million turnover. Now we're doing EUR 2.238 million, okay? So we are very ambitious. And as Nicolas said, the market enables us and our model enables us. So to go step by step, because we are patient people. And so are you, I'm sure. Here are our financial targets for next year.
2025, we're going to deliver double-digit growth on refurbished car sales, resulting in high single-digit growth B2C at least EUR 65 million of adjusted EBITDA. As a second step in 2027, we will continue to deliver a CAGR a double-digit growth on refurbished car sales resulting in high single-digit B2C volumes and achieved around 5% EBITDA by then. And we'll continuously improve our operational working capital of revenue.
And going forward, in our mind, Nicolas and mine and the team, the sky is the limit on this market. Now let's talk about the market. Well, in reality, I believe I have to read the easy part of the presentation because this market is so exciting. Nicolas told you, Europeans need their car. 2/3 of European go to work every day in their car. And if you get out of the big cities, usually, it's 80%.
And what are the cars they use. Well, 4 out of 5 cars sold to private -- around 4 to out of 5 cars sold to private are sold used. This explains the size of the market. This explains the resilience of the market, it's just because people cannot do without it. You will see that traditional incumbent generally deliver a disappointing experience. Digital is contributing to change this experience which is a big opportunity for us because we are digital first. So in a nutshell this market is an absolute opportunity for us and now I get into the details, starting with the numbers. Now the total value of used car market of EUR 420 billion, 34 million units. In comparison, the new car market is 12 billion. Within the 12 million, around half are sold to private customers, okay?
In this big market of used cars, our core market is cars below 8 years, which is essentially what we do, EUR 270 billion. This market is expected to grow in the coming years. Grow slowly, but it's sheer size means that we have several lifetimes of growth possible in front of us. It's not about the growth of the market, it's about the sheer size and the fragmentation. Also not illustrated here, cars are vectors for services, financing, maintenance, and Alejandro will tell us a few words about that later on. Smaller numbers, but very profitable. This big European market, it's composed of specific markets. Each 1 of them is sizable. As you know, we operate in 6 markets on the screen. We have added Germany and other countries.
The fact, by the way, that the U.K. is the #1 market is counterintuitive. And the reason is that the British people change their car much more often than other ones. Europe with its 24 official languages is more diverse than, say, the United States. And we see that also in the automotive retail industry. Typically, market shares vary from country to country. In France, people buy around 54% of French brands. In Germany, Germans buy around 56% of German brands. You have specific equipment requirements. It's not the same to live in the South of Spain or in the north of Sweden. In terms of behavior, I've said British people buy a car every 4 years. Well, Spaniards, we have a number of them here, buy between, car every between 8 to 10 years.
Taxes are different. Administrative processes are different. And the combination of these factors make local know-how and expertise, very important. At Aramis Group, we possess that expertise that empowers us to navigate. And typically, we are the only ones today able to share inventory Europe-wide as Alejandro will tell you in the second part of the presentation. Digitization now, buying a car, there are a lot of pain points and digital enables to reduce or annihilate these pain points. This is why more and more customers are ready to move online to do all the process or just to do a part of the process, as you can see on the slide. People are getting comfortable with that.
Typically, the test drive is not an issue anymore. We provide up to 30 days of money bag warranty for our customers. So we call it the longest test drive in the world. And the digitization trend is accelerating, which is creating a boon for us as we are a digital-first player since day 1. Let's take a look at the incumbents. Well, it's a mixed bag of traditional off-line players usually delivering a second-class experience. You can make the test to go in a car dealership, a new car dealership or independent car dealership to see what kind of experience you get, but probably you'll face some haggling, you have faced a limited offering and the process will be relatively tedious.
This is where I like to quote John Krafcik, the former CEO of Hyundai in the U.S. that then became way more CEO in the U.S., who used to say that people prefer to go to the dentist than to go to a car dealer. These payers are not at scale. If we took -- take a look at the major countries in Europe, the top 5 players represent between 5% and 15% of the market. So a fragmented market is a very big opportunity for a consolidation platform such as Aramis to grow, and we are uniquely positioned for that. Switching now to the market structure and the main operators in the field. So as you can see right away, this slide is kind of a maze, maybe kind of a mess as well. But it shows you that the market is quite opaque, partly intermediated, and it explains why traditional players are not so efficient. Let's take a look.
On the left-hand side, you have the sourcing of the car. So businesses -- so OEMs, rental companies, leasing companies, these players usually sell to auction platforms such as BCA, auto brokers, which in turn sells to B2C players. Then of course, you have private customers who can sell to C2B platforms, or to the dealer when they buy a car or directly to C2C. These B2C players in turn, usually publish their cars on a classified website just as Leboncoin or Aggregators at a cost -- at a high cost, and then finally sell the car to the customers. These platforms, aggregators and classified have no part in the transaction. They are just media, but they are more and more costly.
By the way, some -- I'm sure you noticed that some B2C operators have disappeared. I won't name them, but I'm sure you can guess who in the past month. And this complex landscape creates big opportunities for vertically integrated players such as us. Our platform covers the market from end to end from sourcing to delivery. And also, we are the only one operating only significant operator with just one brand. We have the same brand to buy cars and to sell cars, which gives us many benefits in terms of cost and efficiency. Now if we focus on the B2C players. Well, one of the specificities of this market is that consumer to consumer, is still a sizable share of the market. You see around 30%.
When you buy to a private customer, you have virtually no warranty. So for us, the C2C share is eligible hunting round. Then you have franchise dealers. They represent almost half of the market. Usually, they're conglomerates of traditional dealerships and different brands. So they have different ERPs, different CRMs, different databases. They have a lot of constraints from the OEMs. Their purpose in life is to sell new cars. This is why they exist. What pays the bill? It's the maintenance after sales. And they also sell used cars, but it's very difficult to prioritize everything and they usually lack scale on this business.
Then you have independent operators where you have good players, less good players. And we believe that with our unique customer value proposition, we have competitive advantages on all of these categories. And so we are gaining market share on all these categories, and there's much more to come.
Also, I would like to stress that we are -- we don't have the economics of an automotive player. We have low working capital, we're agnostic in terms of the brand, in terms of engine, as we'll say later on, meaning that we are immune from most cycles. I say most cycles because from end of '21 to end of '23, something very special happened that never happened before. We call it the Carmageddon. Historically, the used car market is very resilient. Nicolas and I, we started the business in 2001 in September and is flat. So 10 days after 9/11. So trust us, we've had our share -- we had a fair share of crisis.
And all this time, the used car market is between plus 4 and minus 4. In the meantime, the new car market has gone through cycles, you can see typically between 2009 and 2013, it has decreased by 20% while the used car market was still growing. The used car market is stable, and the new car market can be quite cyclical. And we talked about the drivers that make this used car market resilient. Mobility is not an option. People need cars, in particular, those that choose that buy used cars. So what happened? Well, it took a combination of a worldwide pandemic not seen since 1918, plus a major land war in Europe, not since 1945 to significantly impact the market.
First, because one aftermath of the COVID crisis was the scarcity of semiconductors which had for consequence that there was a problem to produce new car. So in 3 years, we lost 1 year of production in Europe. I'm speaking of 12 million cars that never came to buff. So this increased the prices of the new cars. By car parity, it increased the prices of the used cars. Some operators such as rental companies as they could not be delivered the new cars kept the new cars -- the used cars. So all of this impacted the used car market for the first time, and there was a decrease in the market. It also shrink to almost nail the preregistered market that used preregistered car market that used to represent 40% of our sales, now 20%.
Second element, you know it's the war in Ukraine contributed to boost inflation in all sectors, in particular, energy and interest rates, which affected the market as well. And this pre-registered scarcity in particular, impacted us more than other operators because we were more exposed to it. Now it's 20% of the sales, and it's coming back to normal. Because yes, this Carmageddon is now over and markets are normalizing.
On the left-hand side, you can see in blue, the production of new cars has picked up and this means that the pre-registered cars are back in the market. On the right-hand side, you can see that the prices have gone down, stabilizing a little bit over precrisis level after passing through really crazy levels. So the market is stabilizing to a new normal with some underlying powerful trends. Let's take a look at these trends.
We have 4 main trends. There are 4 big opportunities for Aramis. First, the inexorable rise of electric cars. I'll focus on that on the next slide. Second, price, well, it's not new really. It has always been in the picture, a very important element when you buy a car. But it's even more important than ever. It's great news for our refurbished car business, which are cheaper than new and more reliable than used, and we are the best deal out there. Three, the Chinese OEMs, the offensive has started. It's an opportunity for us. We are fully agnostic in terms of brands. We have been selling brands, all brands forever. I mean, we really choose what brands we want and what brands we want as the brand that customers want. We have no obligation to sell this brand or that brand and we actually have lived through the Korean push at the end of the year 2000 and benefited from it because our customers are particularly rational looking for a price and benefit combination. And we are already selling several Chinese brands.
Finally, regarding ecological awareness, we believe our model is sustainable by design. In particular, with refurbished used cars, which are at the heart of the circular economy. We are part of the necessary transition of the automotive industry. Through refurbishing, we mitigate harmful emissions and the need for extraction sources. We embrace electric vehicles, as I would say, just afterwards, forging our path to carbon footprint reduction. We are working right now with our team with external studies and with the studies we are leading with typically Aden here in France to make this crystal clear, and we'll come back later on that.
Now if we focus on electric vehicles. Actually, Aramis is retaining electric vehicles since 2012, an old story, Mia cars. I won't go into the details, but we have been selling these cars for 12 years now. You see the figures on the slide. There is some debate on how fast the EV sales will grow or not. But whatever happens, we are ready. We are fully agnostic to engine technology. We sell petrol cars, diesel car, GPL car, ethanol car, electric cars and tomorrow, we'll sell hydrogen cars. We sell the cars that our customers want. And we can sell every engine technology in used car until 2050.
Our refurbishing centers are equipped. Our operators are trained. Our salespeople are knowledgeable and can recommend the best engine technology for our customers. And we believe that EVs are a great opportunity for us because consumers will be -- private customers will be very reluctant, are very reluctant to buy another electric car from a private customer because most of the value of the car is in the battery. And when you buy a car, you're not really sure of the state of the battery you're going to have. Whereas we provide very big warranties to our customers. And we're already ahead of the pack on that other fields, but we are -- we have a mix of electric cars, 30% above what is going on, on the market of cars below 8 years.
So in a nutshell, let's recap why we are so excited about this market, and I believe you should too. It's huge and resilient. The short once in a lifetime Carmageddon is now over, enabling at least a lifetime or 2 lifetimes of growth. It's multi-local, necessitating field expertise, digitization is picking up, which is a very big opportunity for digital-first players such as us. It is highly fragmented, which gives us the opportunity to consolidate. And they are very powerful trends that we believe are big opportunities for Aramis.
So now I have described the playground. I will leave it to Nicolas, who will explain how we play on the playground and how we win.
