As of: February 1, 2024, 11:30 a.m
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Affordable or not?
Used cars continue to become cheaper and cheaper.
But this does not apply to all categories.
The long-standing trend towards rising used car prices reversed last year.
This is now confirmed by a market analysis for the fourth quarter of 2023 published by the trading platform
Autoscout24
. The turning point was March 2023, when prices reached an all-time high.
Since then, these have declined – by 6 percent by the end of the year.
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Used cars are almost twice as expensive as they were three years ago - despite falling prices
However, according to the analysis, the time for bargain purchases has not yet arrived.
Used car prices are also at a historically high level.
This is especially true for cheap endurance runners.
While three years ago the average price for an 8 to 10 year old VW Polo with 120,000 to 160,000 kilometers on the clock was 5,900 euros, it is currently a good 8,800 euros, which still corresponds to an increase of almost 50 percent.
Prices for used cars are still above pre-Corona levels.
© SP-X
According to Autoscout24 market analysis, prices for electric cars in particular fell by 28 percent last year.
Electric cars now cost an average of 12,300 euros less than at the beginning of 2023. The additional costs compared to conventionally powered cars have also shrunk.
Within a year, the markup fell from 54 to 14 percent.
No trend reversal for small cars: prices continue to rise
The online marketplace has also noticed above-average price reductions for high-priced model series.
Accordingly, these fell by 10 percent in the fourth quarter alone for model series such as the Audi Q7 or Audi A8.
However, increases of 5 to 7 percent were recorded for small cars such as the Citroën C3, Suzuki Swift and Kia Picanto.
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The reason for the current price development is a growing supply of used vehicles coupled with a simultaneous decline in demand, which also has a significant impact on the number of idle days.
A sale now takes an average of 101 days, 10 days longer than in the fourth quarter of 2022. (
Mario Hommen/SP-X
)