The index of wholesale prices for cars with mileage, determined monthly by AUTO1 Group analysts, was 142.0 in January. We explain what this means for the market.
For the year, wholesale prices for used cars fell by 4.9%, the AUTO1 Group index fell from 149.3 in January 2023 to 142.0 in January this year.
Compared to last month, the current reading also fell by 3.3%, from 146.9 in December 2023 to 142.0 in January 2024.
However, used car prices are still 24.8% higher than before the COVID-19 pandemic. This trend is in line with market expectations. According to an online survey conducted by AUTO1 Group among its B2B trading partners*, the majority of European dealers (61.1%) believe that used car prices will fall in 2024.
We will remind that the results of a survey of local dealers were published in the annual AUTO1 price review — most of them (61.1%) believe that the prices of used cars will decrease in 2024. A quarter (25.9%) of dealers expressed the opinion that used car prices will remain stable, while a minority (13.0%) believe that prices will rise again. You can read more about this survey here. In the end, such a trend should lead to the fact that the prices of "freshly driven" cars should decrease for the Ukrainian buyer as well.
The AUTO1 price index shows the monthly price change for used cars in Europe. It is determined on the basis of an analysis of more than 3.6 million sales of cars with mileage across Europe. The starting point for this index is January 2015, with a base value of 100 against which all subsequent values are determined.
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