Supply not increased excessively
With the rising prices of petrol and diesel, the demand for alternative fuels is also increasing. Will this lead to more demand for cars running on liquefied petroleum gas, or LPG? Figures from AutoTrack.nl indicate that the supply of LPG used cars has not increased excessively, but the average price has almost doubled compared to the beginning of 2021. The reason for that price increase can be traced back to the events in the spring of 2022.
Currently, as of mid-November 2023, the price of a liter of LPG is just over one euro. That is roughly half the recommended retail price for a liter of petrol and just over half for a liter of diesel. With fuel costs that have been on the high side for some time, LPG is an interesting alternative to traditional fossil fuels. And for the electric car, because it may cost little to keep an electric car running, the purchase price of an EV is still considerably higher than that of an equivalent petrol or diesel.
The supply of LPG used cars remains fairly stable
A look at the figures from AutoTrack.nl shows that the supply of LPG used cars has remained fairly stable since January 2022. At the time there were 279 models for sale, in October 2023 there will be 297. The figures have of course fluctuated in between, but there have never been any major peaks or valleys. The difference between January 2022 and now is in demand, not supply.
Increasing demand, increasing price
The increasing demand for used cars on LPG can be traced back to the explosive increase in fuel costs in March 2022. This had everything to do with the Russian invasion of Ukraine and it caused people to look for a car on LPG much more than before. lpg. The result: the average asking price of a second-hand car running on LPG increased from €18,862 to €25,190 between April and May 2022. Since then, the average price has gone up and down, but in October 2023 you will still pay an average of €25,136 for a used car running on LPG.
Double compared to 2021
If you go back to January 2021, when inflation was not nearly as prominent an issue as it is now, the price increase is even more apparent. In that month, the average price of an LPG used car was €13,213. This means that the price has almost doubled in just under three years. At the same time, it is striking that the price for an LPG used car has remained more or less the same since March 2022.
Average age remains the same
On average, a LPG used car will be 7 years old in October 2023. This is comparable to the figures from January 2021; then the average age was 7.7 years. In the period between January 2021 and now, that age has never really changed. Sometimes it was a little less than 7 years, sometimes a little more. In other words: the supply has hardly changed numerically, but the price has. This is what happens now, when the demand for a product increases enormously, while the supply remains more or less the same.
What does the range of used LPG vehicles look like? You can see that here.
– Thanks for information from Autoweek.nl