Used cars are a fifth more expensive

Used cars are a fifth more expensive

In 2022, inflation will accelerate again significantly compared to 2021: prices for used cars will increase by 21 percent. The offer is reduced by an average of 16 percent compared to 2021. In November there was an increase in supply for the first time. This emerges from the current Europe Report, which is collected annually by AutoScout24, Europe's largest online car market. Accordingly, the VW Golf is once again the most popular used vehicle among Europeans - with an average price of 20,665 euros, however, it cost 9 percent more last year than in 2021. German models in particular are in high demand in the countries evaluated. When it comes to electric models, Tesla Model 3 leads the ranking. Demand for used electric vehicles will rise rapidly by 59 percent in 2022.

“Since November we have observed a change for the first time in many months – there are more used cars on the market again, which is leading to an easing of tensions,” says Nikolaus Menches, Country Manager of AutoScout24 in Austria. The current year will show how quickly the price spiral follows. Menches assumes that used car prices will stabilize. The prices for used cars vary significantly across Europe. In 2022, Austria was with an average price of 26,906 euros, ahead of Belgium with 23,963 euros and the Netherlands with 22,212 euros. The vehicles were most expensive in Luxembourg with an average of 34,799 euros, while Italians were able to purchase a new used vehicle cheapest last year for just around 21,732 euros.

When looking at the most popular manufacturer brands, as in previous years, German car manufacturers were at the top: Volkswagen came in first place, followed by Mercedes-Benz in second place and BMW in third place and Audi in fourth place. With Fiat, an Italian manufacturer also managed to assert itself in the top 5 of the most popular used car brands in Europe. German vehicles were also in high demand when it came to models: As in the previous year, the VW Golf remained at the top of the most popular used cars. With an average price of 20,665 euros, it cost 9 percent more in 2022 than in 2021. The VW Polo was relatively stable in second place as the most popular in Europe: at 14,311 euros, it cost only 2 percent more on average.  Fans of the Audi A3 (24,909 euros) and the Audi A4 (average price: 26,963 euros) each had to pay 23 percent more for their dream vehicle. The Opel Corsa recorded an increase of 13 percent at 16,889 euros. When it comes to electric cars, the Tesla Model 3 was the most popular, followed by the Renault ZOE and the Tesla Model S. The other top 5 places were occupied by the BMW i3 and Nissan Leaf. According to the Europa Report, overall demand for used electric vehicles rose by a remarkable 59 percent in 2022 alone.