GW prices are highest in Austria

GW prices are highest in Austria

Used car prices recorded new peaks in the past Corona year: a corresponding vehicle in Austria costs an average of 22,949 euros in 2021 - an increase of 13 percent or 2,637 euros compared to the previous year. This means that used car prices rose more in Austria in 2021 than in the Netherlands (eleven percent), Germany (ten percent), Belgium (nine percent), Italy (seven percent) or France (two percent).

A comparison with the previous year makes the development even clearer: car buyers in Austria paid an average of 21,166 euros for a used car in November 2020; in November 2021 the price was 25,154 euros, 3,988 euros higher than the previous year. This emerges from the annual AutoScout24 used car price index (AGPI) for the full year 2021. Consumers are spending more money on a used car than ever before since data collection began. Across Europe, average prices rose by eight percent year-on-year. At the same time, the supply of used cars across Europe is falling by eleven percent. Here the market (supply and demand) seems to be developing in a textbook manner. 

“In terms of price dynamics in the used car market, 2021 is an absolutely exceptional year,” says André Eckert, Country Manager of AutoScout24 in Austria.

“In 2020, prices remained almost at the same level as the previous year, but now they have increased by 13 percent from a standing start - this has never happened in this form before.”  According to Eckert, several factors must be taken into account in order to explain the development. "First of all, there is the increase in the importance of individual mobility as a result of the Corona crisis, which has fueled demand for used cars. The trend was reinforced by the lockdown-related production shutdowns, which meant that young used cars and leasing returns were missing from the market. This was reflected in subsequent catch-up effects on the part of consumers. The parallel developing shortage of semiconductors in the automotive industry can be described as a real price booster. Since new cars are either not available at all or only under the condition of long delivery times, many customers switched to used cars - this increased the prices. The bottom line is that the demand market for used cars has become a supply market. 

The most popular GW brand

The fact that the most popular used cars in Europe come from Germany is also evident this year: As in 2020, the VW Golf is parked at the top of the podium - even though it has increased in price by 21 percent year-on-year to 19,046 euros on average in Europe. While the increase of the Audi A4 in second place is moderate of nine percent to 21,839 euros, the Audi A3 in third place increases more significantly at eleven percent to 19,678 euros. The VW Polo in fourth place is the cheapest vehicle among the most popular with an average price of 14,082 euros; With an increase of just one percent, it is keeping its price almost stable. Fans of the Audi A6, which is in fifth place in the ranking, will have to bring larger bills: the sedan is currently selling for an average of 28,112 euros in Europe, which is six percent more than last year.

Used electric vehicles are becoming more popular

Electric cars are also becoming increasingly popular as used vehicles in Europe. The purchase inquiries for electric vehicles at AutoScout24 have increased consistently year-on-year. For example, if you compare November 2021 with November 2020, you can see an average increase of 144 percent. A survey that AutoScout24 conducted this summer among 5,566 European users of its websites also underlines the trend: 38 percent of those who wanted to buy a car at the time of the survey were also considering an electric car. The most popular electric car in Europe is the Renault Zoe.