Used cars are currently exceptionally expensive. But the trend is changing. The big exception: small cars.
The prices for used cars have risen dramatically in recent years – but the trend reversal may have already begun. This is indicated by data from market observer DAT. In September, the percentage residual values of three-year-old used cars in most vehicle segments were no longer as much higher than the previous year’s values as they were in August or July.
“It starts in individual segments,” says DAT. The price surge from 2021 and 2022 is over. There you can now also observe a drifting apart between the offer and transaction prices. While there have been almost no discounts in recent years, that has changed again since the middle of the year.
Increased demand for used cars
“We have had an enormous shortage in the last two years,” says a DAT spokesman. Because fewer new cars were built due to Corona and a lack of materials, there was a lack of young used cars. In addition, potential new car buyers sometimes switched to used cars, which increased demand.
The situation has now changed and the dealers’ yards are becoming full again. In addition: “People are very reluctant to buy a car and keep their money together.” This is also consistent with observations recently published by AutoScout24, according to which cars are now sitting longer in dealers’ yards.
The big exception among the segments also fits in with this: for minicars and small cars, the DAT residual value curve continues to point clearly upwards. A typical three-year-old car from this segment was sold in September for an average of 74.3 percent of the new price. That is 4 percentage points more than at the beginning of the year. One reason for this: the offer is currently rather small.
Source: Stern
