Used car prices are falling

Used car prices are falling

Used car prices have risen almost consistently in recent years. But now there are signs of a trend reversal for the first time. As can be seen from the current AutoScout24 used car price index (AGPI), prices are actually falling - albeit only slightly. A used car costs an average of 28,240 euros in April - that's 0.7 percent less than in March of this year. However, the comparison to the same month last year makes it clear: consumers today have to invest around 10 percent more on average for their new used car than in April 2022.

"We continue to observe the trend towards a slight decline in used car prices. The prices are still at a very high level. Even if the prices continue to fall, it cannot be assumed that they will reach the pre-crisis level," says Nikolaus Menches, Country Manager of AutoScout24 in Austria. When looking at the vehicle segments, there is a consistent trend towards price declines. The price of the middle class fell significantly by 1.8 percent (average price: 25,103 euros), and vehicles in the compact class (20,290 euros), upper class (31,214 euros) and small cars (16,097 euros) also fell in price by up to 1.4 percent. Anyone who decided to buy a van or minibus in April paid an average of 25,117 euros, 0.7 percent more than in March. When looking at the age groups, the price decline is similar. For example, 5 to 10 year olds increased by 1.5 percent and therefore cost an average of 22,730 euros in April. In April, average prices were also 0.8 percent higher (11,268 euros) for used cars that are 10 to 20 years old. Fans of classic cars, on the other hand, can really save: cars with a mileage of 20 to 30 years are cheaper by 4.7 percent to an average of 9,989 euros.

The market relaxation can be observed across all drive types. Electric cars again recorded a significant price decline in April, falling by 3.8 percent to an average of 46,144 euros. Hybrid vehicles are also going backwards in terms of price: despite a discount of 0.8 percent in April, they remain the second most expensive vehicle class among drive types with an average price of 44,990 euros. In comparison, the AGPI recorded smaller price declines for combustion engines. Diesel vehicles are cheaper by 1.2 percent and cost an average of 26,402 euros in April. Petrol engines remain almost stable and are offered for an average of 24,478 euros. The range of different drive types expands significantly in April. Exceptions are diesel and gasoline, whose stocks remain almost stable with a slight decline of 0.5 percent, and LPG vehicles with a decrease of 0.7 percent. However, CNG drives increased most significantly (+10.2 percent), followed by electric cars with an increase of 5.5 percent more offers on AutoScout24. And consumers also have a significantly larger choice when it comes to hybrids, with a 4 percent increase in supply.