Peak of price increase reached?
Car manufacturers continue to suffer from delayed deliveries, resulting in long delivery times and high used prices. For the first time since the spring of 2021, the average price of a used car has fallen, although it is a relatively small decrease. That reports Autoscout24.
Autoscout24 has provided insight into the average price of the used cars offered on its site in July. What seems? The average used car price was lower in July than a month earlier. In July, the average price of a second-hand car offered on Autoscout24.nl was €23,531. A month earlier, the average price was still €277 higher. This means that the average price of a used car on the website fell by 1.2 percent in July compared to June. It is the first time since the spring of 2023 that the average price of a used car has fallen. In April 2021, that average asking price dropped from €19,626 (March) to €19,606.
Does that mean that the peak of the price increase has been reached? That could be possible, although for many Dutch people it is also summer vacation. That is exactly a period in which more money is traditionally spent on holidays and people are less on the hunt for a new or used car. Both in 2019 and in several years before that, the average used car price fell slightly in July and August, successively by €225 (-1.2 percent) and €140 (-0.7 percent). This phenomenon did not continue in 2020 and 2021 due to the consequences of the corona pandemic.
Although the average used car price in the Netherlands and also in Germany fell slightly, the average used car prices in many other European countries actually increased. In France, the average asking price of a second-hand car offered on Autoscout24 is the highest in July at €27,716 (+1.2 percent).
European used car prices in July 2022
- France: €27,716 (+1.2%)
- Germany: €27,361 (-0.2%)
- Austria: €27,203 (+1.9%)
- Belgium: €24,119 (+1.1%)
- Netherlands: €23,531 (-1.2%)
- Italy: €21,613 (+0.8%)
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– Thanks for information from Autoweek.nl