As we have been repeating since practically mid-2020, the car price it gets more and more expensive. We have seen vehicle examples which have risen almost 20% in one year. All this, together with the low stock and the long waiting lists to receive a car due to the microchip crisis, has meant that many potential buyers have bought cars.
Logically, the greater demand for used vehicles has caused this market to increase its price. So much so that, according to GANVAN (National Association of Vehicle Sellers and Repairers), prices have increased by 20,2%. Moreover, the average has been located at 17.990 euros. Yes, the average price paid for used cars is practically 18.000 euros.
The average price of the used vehicle has risen twice that of the new car
Therefore, the rise in prices for the used market in 2022 is practically double that of the new vehicle, which according to the INE has risen by 10,4%. We might think that this is because there has been a greater number of used vehicle sales, but with little age. Nothing could be further from reality, well 20% fewer cars less than 3 years old were sold last year than in 2021.
Even more "scared" the data if we go to pre-pandemic periods. If we compare the data for 2022 with that for 2019, used cars have a 33% higher average price. And, beware, it is the oldest vehicles that appreciate the most, with increases of 50 or 60% in cars over 10 years old.
The average age of the used vehicle sold was almost 11 years and reached almost 15 years in operations between individuals, which accounted for more than 60% of transactions; a circumstance that accelerates the aging of the park.
The most representative data is that of the almost 1.886.000 used vehicle transactions in Spain, practically 728.000 corresponded to vehicles over 15 years old. Finally, in almost all Spanish regions, the price of cars over 15 years old has risen by more than 50%, reaching in some cases above 110%, such as in Cantabria and the Canary Islands.
Source - GANVAN