What does the term “Jahreswagen” mean?

Question

What does the term Jahreswagen mean? It literally translates to year car. In which context is it used?

Answer 1

The term Jahreswagen is used to describe a special kind of used cars.

Wikipedia states the term is appropriate as long the car’s date of first registration has not been longer than a year past today and production and registration date must be within a year.

These cars sometimes result of employees of car manufacturers might be allowed to buy a new car of their company every 12 months (Since they get a significant discount, the difference to the list price is relevant for income tax; they might sell it after the year for little less, than they paid for it.)

Another origin are company lease contracts for cars.

Answer 2

Basically, a used car that's less than a year old.