The average price for a used car rose to a new record in December. According to online car platform AutoScout24, the price for an used car was an average of 25,125 euros. That is 1.7 percent more than in November and 16 percent higher than one year previously.
AutoScout24 had previously said that if the upward trend of recent times continued, the price level of 25,000 euros at the end of the year would be broken. Trade organization Bovag has also indicated that it sees the trend of rising prices for used cars.
Supply shrunk
The demand for used cars far exceeds the supply. In addition, sales of new cars were under pressure last year due to the global chip shortage and delivery problems. As a result, the supply of used cars also shrank. This drives up prices.
According to AutoScout24, used car prices are also going up in other European countries. More than 202,000 vehicles are for sale at the car platform.