Prices
Study: New car prices rise faster than salaries
Drive turn and inflation: The prices for new cars rise faster than income. The purchase price is not everything. Why consumers will have to calculate even better in the future.
According to a study, new cars have become more affordable in Germany in recent years. The range between the net income and the new car prices died noticeably between 2019 and 2024. This is shown by the analysis that the management consultancy Oliver Wyman created together with the Jato Dynamics market researchers.
Between 2019 and 2024, the annual networks increased by 24 percent – from average 26,100 to almost 32,400 euros. The price for a new car climbed on average in the period from around 30,200 to almost 41,800 euros. This corresponded to an increase of a good 40 percent. As a result, this has decreased. Specifically, this means that in 2019 a person in Germany had to pay an average of 1.16 annual salaries for a new car. In 2024 there were already 1.29.
Electrification drives prices
The switch to more electrical drives – i.e. to pure streamers or hybrid vehicles – therefore explains almost half of the price increase in cars. In addition, inflation and other economic influences would come.
The range of cheap entry models goes back. Therefore, more and more consumers used financing, leasing offers or cheaper used cars. According to the analysis, new car purchases in Germany decreased by 22 percent.
Researchers: In the long run, electric car owners save
The price is important when buying a car – but does not give the entire picture again: new electric cars are currently most expensive in purchasing than a comparable car with combustion engine. Over the entire service life, however, they are often better for their owners’ wallets. This is the result of the Fraunhofer Institute for System and Innovation Research (ISI) in a research overview.
Middle-class powerers can therefore be more economical than combustioners with the usual use and with their own charging option. “The currently even higher acquisition costs are compensated for by the lower running costs,” said study author Martin Wietschel at the time. The researchers not only refer to cheaper energy, but also to lower maintenance costs.
dpa
Source: Stern
