While the Covid-19 pandemic has impacted the new home market, with significant delivery delays, the crisis has also affected the second-hand market.
At the moment, the prices of second-hand cars are higher than usual. This is due to lack of supply from resellers, which is itself a consequence of the Covid-19 crisis.
Diesel cars, in particular, cost more in May than a year ago, according to current figures from the German automobile trust (DAT). One of the underlying reasons for this price increase is obviously the Covid-19 crisis. The latter caused a drop in demand from buyers and therefore a drop in supply in commerce.
« Cars are getting more expensive because there is a shortage“, Explains Burkhard Weller, Managing Partner of the Weller Group. this one was questioned by the German site Automobile week, which also sells tens of thousands of used cars each year. He estimates the increase at five or seven percent. ” Our stocks have never been so low “And” selling cars has never been faster“, He says.
The figures also show a clear shortage of used cars. Out of 400 dealers surveyed by the newspaper, 65% said used vehicleswere missing in concession. 77% of dealers said it is currently difficult to buy used cars.
In general, a large portion of the relatively young used cars sold at dealerships come from company and / or rental car fleets. But rental companies, which typically only keep cars for a few months, had sharply reduced their fleet during the Covid-19 crisis and only recently started expanding it again.
Traders agree that prices should not be expected to drop quickly. The shortage of chips, which is currently slowing the production of new cars, is also contributing.
It will most likely be necessary to wait until the beginning of 2022 for things to return to normal.
Source: Automobile Week
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