The hunt for economical used cars has really taken off in the past 2 years. And we notice that; the average used car became on average 10 percent more expensive in a year. The reasons for this are diverse, easily explained and have not yet disappeared.
Supply and demand
The classic picture applies; the demand for, in particular, economical and reliable second-hand cars has increased significantly in recent years. Due to the high petrol prices, an economical car is more than ever a must. But second-hand hybrids in particular are so popular that the supply falls short. And you notice that in the purchase price.
Various experts in the car industry do not foresee any major indications that this trend will reverse any time soon. Although the ceiling seems to have been reached once (when a second-hand car is approaching the price of a new car, the consumer naturally chooses differently), for the time being the prices are undiminished and the well-known haggling rarely applies anymore – asking and selling prices are low. closer together than ever.
Situation in the world
There are many reasons why the second-hand supply is so low. On the one hand, we are fortunate to see a growing second-hand market in electric and hybrid, as the first generation of electric cars moves into the used car market. At the same time, the supply cannot meet the demand.
The second-hand market, also beyond electric and hybrid, is also limited. This is partly because the market for new cars is stagnating. Delivery times on many models are longer than before, because the necessary materials are difficult or impossible to obtain. The war in Ukraine further exacerbates this; wiring harnesses that normally come from that area are not available. And after a stagnation in factories due to corona, a worldwide shortage of chips followed, which also affected car manufacturers.
Second-hand market is letting go of trend
In fact, the only car type that here and there notices a drop in search demand within the second-hand market is the petrol car. Surprising, because in new cars, for example, the Diesel is undeniably unpopular. But because in the current setting of fuel prices, petrol is so expensive and diesel still gets a lot of miles from a liter of fuel, experts see a revival in search demand even there, just like the previously ‘thought to be dead’ LPG.
Electric undeniably popular
The growth in electric driving that was already started, especially among business drivers, is now slowly becoming the standard within the private market, in new and used. The skyrocketing fuel prices accelerate this process even further.
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