The continued rise in used car prices seems to have come to an end. According to the advertising sites La Centrale and Leboncoin, used car prices continued to stabilize in the second quarter, after a drop already recorded between January and March.
Prices thus fell by 0.3% in three months, to an average of 22,900 euros, La Centrale said in a press release on Wednesday, which collects announcements from car dealers. According to Leboncoin, vehicle prices have even started a slight drop of 2.5% compared to the first quarter.
However, prices are still very high, with an average of 11,181 euros for vehicles sold by individuals and an average of 23,126 euros for vehicles sold by professionals. And there are disparities in the evolution according to the age of the vehicles.
The older it is, the more expensive it is
Thus, if those from 2 to 8 years old see their prices stabilize in particular, indicates La Centrale, the prices of the most recent used vehicles (less than two years old) continue to increase, however, up to around 30,000 euros on average. (+) 1.4% in three months). In question, “the shortage of new vehicles and the increase in the market share of electric vehicles and SUVs, which are more expensive vehicles”, explains Antoine Despujols, Strategy Director of La Centrale.
Vehicles over 15 years old are also experiencing a strong increase, up to 7,990 euros on average (+15.8%), due to “the continued strong demand from consumers, who are forced to opt for older vehicles in the context of diminishing purchasing power and current inflation”. “, according to Antoine Despujols.
An observation shared at Le Bon Coin: the average prices of vehicles older than 8 years have skyrocketed since 2020. From 6,110 euros then, they rose to 8,876 euros this year, or an additional 2,766 euros (+45%). But compared to the prices of newer cars, 5-8 years old, these “old” cars are still attractive in the market, hence the high demand. It costs 21,636 euros on average for a car between 5 and 8 years old, that is, a price 2.5 times higher.
Electric and hybrid booms
Used electric and hybrid vehicles are seeing their prices continue to fall. Now you have to count an average of 32,990 euros, a decrease of 5.7% compared to the first quarter of 2023 according to La Centrale. This represents a price drop of 11% from December 2022.
The prices of used vehicles are still much higher than those registered a year ago: +17% for vehicles sold by individuals and +11% for those sold by professionals according to Leboncoin.
Source: BFM TV
