Used cars rose in price by an average of 1.3% in February compared to the previous month and the average price was 29,125 euros – a new all-time record, according to data from Europe’s largest online car portal – AutoScout24, which has more than 10 million users and has more than 2 million listings for sale.
The price increase is even greater compared to the same month last year – since February 2022, vehicles have increased in price by 9.1 percent. A second-hand car cost an average of 2,436 euros more than a year ago in February.
Used electric car prices are currently trending in the opposite direction, down 19 percent from their peak in September 2022. At the same time, supply increased in February. According to AutoScout24, EVs’ share of the overall market is still too small for the declines now to break the upward trend in prices.
The used car market is still dominated by those with internal combustion engines, and their average prices are rising. For diesels, the average price is 29,696 euros, and for gasoline – 26,787 euros.
Read more about the topic on the Automedia website.
