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The used car market is virtually empty”
Due to delivery bottlenecks, new car registrations have collapsed and the used car market is booming. Europe's online giant Carvago.com is pushing ahead with expansion - recently also in Austria, for which manager Joachim Spahl is responsible.
The used car market is virtually empty”
"The used car market is virtually empty, prices are rising every month and there is no improvement in sight in the short term. We are counteracting this by simply expanding the market. We offer certified used cars from six European countries and the purchase is a purely online transaction," says Joachim Spahl, Head of Region DACH at Carvago. Carvago.com only offers vehicles that meet the company's high quality standards. When the purchase decision is made, the car is purchased by Carvago and made available to the customer. “We take care of all legal, technical and logistical details,” explains Spahl.
Using intelligent tools, Carvago analyzes more than seven million used car advertisements from all over Europe twice a day according to strict criteria. All cars offered on Carvago.com are less than 10 years old and have less than 100,000 miles on them. When making a purchase decision, Carvago takes care of all the details, be it vehicle registration or financing. In addition to a comprehensive technical CarAudit test by certified vehicle testing centers, there is also a guarantee of at least twelve months. This means that buying used cars will become a fully-fledged online business for the first time and consumers will have a 14-day right to return the vehicle without giving reasons. The car is delivered to your doorstep.
Recently also in Austria
The launch of the European start-up in Austria in November 2021 is part of the company's internationally oriented development strategy. Since Carvago launched in the Czech Republic in October 2020, the company has already successfully expanded to Poland, Slovakia, Germany, Italy and Austria. Market entry in four additional European countries, including Switzerland and Spain, is planned for the first quarter of 2022.
The market environment in which the company operates is certainly exciting. In Austria, new car registrations fell to their lowest level in 37 years in 2021 due to the pandemic-related supply chain bottlenecks and the semiconductor shortage. In comparison, used car registrations are rising continuously, by 3.6 percent last year, as Statistics Austria has just announced. The unbroken demand for used cars with reduced supply has a strong impact on the market and prices. With a Europe-wide range of 700,000 certified used vehicles, Carvago.com claims to be the largest used car online platform on the continent.