The prices of used cars in the Czech Republic are finally falling, but the development in the field of drives is a warning for car manufacturers
9 hours ago | Petr Prokopec
Photo: Škoda Auto
The constantly rising prices of the most miserable used cars are finally a thing of the past, and buyers are once again starting to have more trump cards in their hands. But what can be perceived as good news for ordinary people is bad news for car companies. The market is once again increasingly clearly dominated by diesels, which manufacturers are abandoning.
Between 2020 and 2022, the production of new cars stagnated, which, together with other macroeconomic factors, mainly of a political nature, led to their considerable increase in price. This also had an impact on the second-hand market, as the supply thinned out. And since the demand increased in comparison, the prices began to skyrocket in this case as well. The average for the first quarter of this year rose to 299,000 crowns, which was unimaginable not long ago. Only then did the turning point come – in the second quarter the average dropped to CZK 293,000, so we are finally witnessing a reduction in prices, clearly not only in statistical terms.
However, a closer look at Cebia’s new report shows that all is not rosy. The average age of imported cars increased from 10.6 to 10.8 years in the first half of this year compared to the same period last year. Although the share of cars older than 10 years decreased by 2.15 percent to 49.41 percent, the share of cars older than 15 years increased from 22.81 to 23.47 percent. This means that cars from the beginning of the millennium came to us mainly from Germany, which were banned by legislation in many German cities, which is quite an expected development, but also a bit of a double-edged sword.
Despite everything mentioned, however, the average age of all passenger used cars decreased year-on-year, by five months to 9.1 years. This is mainly due to a shift in cars with Czech origin, which have become younger by 1.5 years to an average age of 7.2 years. Mainly new cars from terminated operating leases entered the market. Stabilization is also taking place in this respect, although it is still necessary to remember that we are still far from the pre-pandemic years. After all, at the end of the first half of 2019, the average price of a used car was CZK 227,900.
In the top ten best-selling used models, we can find four cars from the Mladá Boleslav car company, and Škoda has a total of 21.23 percent of the market. The leader is still Octavia, which takes care of 10 percent of all transactions. The second most frequently represented brand is Volkswagen, followed by BMW, Hyundai and Ford. The blue oval used to traditionally be the top model of both Focus and Mondeo, but its offer has thinned out considerably, first after the sedan’s departure and then after the end of production.
The look at the types of drive is very interesting, as it clearly indicates to car companies what ordinary people are interested in. After a few minor hesitations, diesels again took over the reigns and clearly dominate the market with 49.57 percent, followed by gasoline cars at a smaller distance, which account for 46.41 percent. Battery cars remain on the fringes of interest (0.88 percent), after all, in their case the average price is 999 thousand crowns. In this development, betting everything on electric drive is, in a word, foolish, people are obviously leaning back (and not only in our country) to very efficient and affordable diesels. On the other hand, the car companies are increasingly removing them from their offers, so the current situation is another warning in a series of warnings for them.
As for color, the share of gray and white cars increased year-on-year. The average mileage then dropped by two thousand kilometers to 147,000 km, but the Cebia company once again points out the ever-increasing risk of speedometers turning off. In addition, the original owners hide the accidents, because according to the advertisements, only 0.76 percent of the used cars sold were involved in accidents. However, according to actual statistics, such a share is 25 percent for five-year-old cars, and even 60 percent for ten-year-old cars.
The average price of used cars in the Czech Republic fell to CZK 293,000 in the second quarter of this year, and the most popular model was, as before, the Octavia, followed by the Fabia and the Superb. It is fascinating to see the return of the dominance of diesels, which, despite everything, obviously do not lose their popularity among ordinary people. Graphics: Cebia, printing materials
Source: Cebia
Petr Prokopec
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2023-07-16 14:21:35
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