Used car prices continue to rise, but...

Used car prices continue to rise, but...

The prices for used cars are also at an all-time high in March 2022: a corresponding vehicle costs an average of 25,749 euros. However, the rapid price increase from 2021 will slow down this year, as shown by the current AutoScout24 used car price index (AGPI). Used car prices remain stable in March. However, the annual comparison shows a different picture: Compared to March last year, used car prices increased by an average of 3,245 euros, which corresponds to a price increase of 14.4 percent. The skyrocketing fuel prices caused the search for electric cars to skyrocket in March: demand rose by 48 percent compared to the previous month. Prices for electric cars have also risen: a used electric car costs an average of 40,655 euros in March - that's 4.6 percent or 1,782 euros more than in the previous month. 

While the price increase for VANs/minibuses increases slightly to 21,935 euros (+ 1.8%), in the upper class to 60,348 euros (+ 1.5%) and for SUVs/off-road vehicles to 32,727 euros (+ 0.5%), the prices in the small car segment stagnate at 14,927 euros and in the upper middle class at 29,456 euros.

There is a slight price reduction compared to February in the compact class, which is currently available for an average of 19,510 euros. In the middle class, prices also fall slightly to 24,804 euros and for sports cars by 1.9 percent to 65,081 euros.  

There is a clear trend reversal in demand for used cars: it is falling by over 11 percent across all vehicle segments. The upper class is particularly affected with minus 17 percent and SUVs/off-road vehicles as well as VANs/minibuses with minus 14 percent each. While increases in supply are being recorded for small cars (+2.8 percent), in the luxury class (+2.6 percent), for SUVs/off-road vehicles (+2.3 percent) and in the upper middle class (+1.7 percent), the market is leveling off in the compact class. The offer continues to decline in the middle class, for sports cars and also for VANs and minibuses.

When looking at price developments in the age segments, the signs continue to point to price increases. For cars that are between 1 and 3 years old, consumers will have to dig deeper into their pockets in March: prices in this age category will rise by 2.1 percent to 36,111 euros. Cars between 5 and 10 years old (20,193 euros) also became 2 percent more expensive. Classic cars once again recorded the largest price increase in the age segment (27,029 euros) with an increase of 6.3 percent, while youngtimers were available for an average of 8,444 euros (-6.3 percent) in March.