Whether new or used: cars are becoming more and more expensive in this country, as a current industry report shows. Car owners worry about whether they will be able to afford their car in the future.
According to a study, every second car owner in Germany fears that they will soon no longer be able to afford their car in view of current developments. 2022 was marked by high costs, Deutsche Automobil Treuhand (DAT) announced on Thursday at the presentation of its annual industry report. The company referred to “high purchase prices, fuel prices and inflation”.
In addition, 13 percent of those surveyed stated that they had planned to buy a car in 2022, but this did not take place. The reasons given most frequently were high prices and pressure to save. According to DAT, more than 4,600 end consumers were interviewed by a market research institute for the study.
Hardly any bargains
According to the study, purchase prices rose sharply again last year. On average, a used car cost 18,800 euros in 2022. That was an increase of 19.4 percent, in 2021 the average transaction price was still 15,740 euros. The average price for new cars rose by 5,000 euros to 42,790 euros in 2022, which corresponds to an increase of 13.2 percent.
Bargains are therefore becoming increasingly rare. In 2019, i.e. in the year before the start of the corona pandemic, 44 percent of used cars were bought for less than 10,000 euros. Just under every fourth used car cost more than 17,500 euros. The situation changed last year: Only 23 percent of used cars cost less than 10,000 euros. On the other hand, almost half (46 percent) had an average price of more than 17,500 euros.
There was also a clear shift in the price level for new cars. Around two thirds of the purchases here in 2022 were more than 35,000 euros. For comparison: in 2018 it was still a third. There were hardly any (1 percent) purchases for less than 15,000 euros last year. In 2018, 14 percent of those surveyed still bought a new car in this price range.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
