Used cars: prices remain high

Used cars: prices remain high

With an average of 28,425 euros, used car prices remain at a high level in March. This emerges from the AutoScout24 used car price index (AGPI), which the online car market publishes on a monthly basis. Accordingly, the prices for used vehicles have developed dynamically in recent years: A corresponding vehicle currently costs 10 percent more than a year ago and even 26 percent more than in March 2021. Demand and therefore the use of the AutoScout24 app has increased compared to February and has increased by a good 18 percent. "Driven by seasonality, used car prices have fluctuated in recent months. It is too early to speak of falling prices, but we are currently observing a sideways movement. The higher availability of new cars since the end of the first quarter of the year has led to an increasing supply of used cars and therefore suggests a decline in price developments in the medium term," says Nikolaus Menches, Country Manager of AutoScout24 in Austria.

A uniform development emerges when looking at the vehicle segments. The compact class in particular fell in price in March: the vehicles cost an average of 20,529 euros in March, -1.9 percent less than in February. The popular small cars are currently -1.6 percent cheaper and cost an average of 16,326 euros. There are also smaller bargains for the upper and middle class: those interested save an average of -1.5 percent. Buyers spend 31,660 euros for the upper class and 25,572 euros for the middle class. When analyzing the age groups, the classic and youngtimers catch the eye. These increase in price by up to 4.5 percent.

The demand for used cars has increased significantly on AutoScout24. The biggest increase was in 5 to 10-year-old cars, with an increase of 50 percent compared to the previous month. But 3 to 5 year olds are also very popular with a 43 percent increase in demand, as are the upper and middle classes (+50 percent). E-cars (+73 percent), gasoline engines (+46 percent), diesel (+41 percent) and CNG and hybrid vehicles (+33 percent) are also very popular in March. Consumers have a larger selection of used electric cars in March. The range has been growing here since the beginning of the year - in March alone, 4.7 percent more electric vehicles were offered on AutoScout24 than in February. The development with hybrids is similar: sellers put 1 percent more vehicles in the digital shop window in March. However, offers for the currently popular combustion engines are declining slightly: -2.1 percent less diesel and -2.3 percent fewer gasoline engines are available in March.