Categories: News

Second-hand market: an incredible rise in prices

If you are looking for a used car, it will be better to have a substantial budget, while prices continue to climb.

Hard to buy a car right now. If you want a new vehicle, you will indeed have to deal with a strong price increase as well as with extended delivery times, for many reasons. And if you want to fall back on the occasion, the demand is so strong that it is difficult to find the perfect vehicle for you. Not to mention the prices, which have also risen very sharply in recent months. Indeed, the volume of cars available for sale is far too low compared to demand, which then generates a strong increase due to the scarcity of cars available. This is what the barometer tells us Self-visawhich is based on the classified ads published on the website.

High prices

And according to this study, the price of used cars has literally soared, with an increase of around 13.7% over the first ten months of the year compared to the same period last year. The average price is then displayed at €22,356, and rises to €24,200 if only the month of October is taken into account. This is the amount of some new cars! If models less than a year old have seen their prices increase by 12%, the biggest increase concerns those between 6 and 8 years old, since it is around 22.6%. Suffice to say, it’s huge. Among individuals, the average selling price of bonds of 21.7%to be almost equivalent to that of professionals.

Read also :
Used: models for sale now
Used Car: Which Model Should You Buy?
There Are Fewer And Fewer Used Cars For Sale

Declining sales

This surge in prices is explained in particular by the lack of love of customers for new cars, in particular because of excessively long lead times. Result, buyers do not want to wait and then turn to the second-hand market. Problem, the demand is then so strong that supply is getting too low. As a result, transactions are down, around 13% since the start of the year. Only 3.94 million sales were recorded then, making 2022 a particularly bad year for the market. But it’s not because of a lack of interest, quite the contrary, which may seem paradoxical.

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