Things have been going downhill since the beginning of the year, and prices are now back at the level they were in May two years ago, according to calculations by the online platform AutoScout24. The average price for a used car from the domestic market leader was 28,188 euros in May last year, and is now 26,886 euros.
- Also read: Defects: When to pull the emergency brake when buying a used car [OÖNplus]
Currently, from April to May this year, all segments have seen a decline in both supply and demand. The upper class has felt this particularly strongly, with the price drop in supply only being 6.9 percent, but in demand it was 18 percent. The smallest decline was recorded for small cars (supply: minus 4.2 percent, demand: minus 8 percent).
Classic cars increased slightly
The age segments also saw a decline across the board recently (April to May) – only classic cars that are more than 30 years old increased slightly. In contrast, vehicles up to five years old were significantly less popular, with the drop in popularity here being around 19 percent, according to AutoScout24.
The sales slowdown for purely electric vehicles was also noticeable for used cars, where popularity fell by 16 percent, while for diesel it was only 11 percent. The desire to buy hybrid vehicles was also significantly curbed, with a drop of 19 percent in May compared to April 2024.
“Trend reversal is sustainable”
“The trend reversal in used car prices has been sustained since the beginning of the year, with a drop of 1,640 euros. Used cars have therefore become a whopping 5.7 percent cheaper. We assume that costs will continue to stabilize over the course of the year,” says Nikolaus Menches, Country Manager of AutoScout24 in Austria.
In May, the average price for a diesel was 24,594 euros, for a petrol car it was 26,455 euros and for a purely electric vehicle it was 38,854 euros. The average price for a hybrid vehicle was 46,787 euros, according to what Europe’s largest online car market claims. An SUV cost an average of 34,846 euros in May, for a small car it was 14,638 euros and for a compact car it was 19,096 euros. The middle class cost 23,742 euros, and for the upper middle class 29,040 euros had to be paid.
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