Prices for used cars continue to rise. The reasons for this are diverse.
The used car prices are still on the rise. The from Autoscout24 The used car price index (AGPI) has an average price of 23.728 euros in September, around 500 euros more than in August. Compared to the same month in the previous year, used cars are around 3.500 euros more expensive. In particular, compact-class vehicles and used vehicles that are five to ten years old cost more. Compact vehicles increase by 3 percent to an average of 18.562 euros. The prices for used vehicles that are five to ten years old have risen by 6 percent.
Mid-range cars cost an average of EUR 23.804 (plus 2,5%). The prices for off-road vehicles and SUVs as well as for sports cars have also increased by 2 percent each. The average price for SUVs is 31.447 euros, and for sports cars it is 61.069 euros. Upper-class models with an average price of 0,5 euros have seen a small price drop of 57.035 percent.
Less supply affects used car prices
The higher prices are accompanied by a decreasing supply. The largest drop in the supply, with minus 9 percent, is in small cars and vehicles in the upper middle class. For SUVs and luxury and mid-range vehicles, the decrease is 7 percent each.
The portal sees reasons for the price increases in a high demand for used vehicles due to the pent-up demand as a result of the corona lockdown and the increased importance of individual mobility due to the corona pandemic. In addition, there are bottlenecks in the production of new cars due to a lack of chips, which leads to a shortage of new cars and additionally fuels the demand for used vehicles.
