Wholesale prices for used cars in the EU in February were the lowest in 2 years

The AUTO1 Group price index fell again in February by 0.6%, from 142.0 in January 2024 to 141.2 in February 2024. According to the European Wholesale Used Car Price Report, this is the lowest ever price level indicator from September 2021 (144.6). Previously, the Index showed that wholesale prices for used cars remained almost unchanged during 2023, and fell (-3.3%) in January of this year.

For the year, wholesale used car prices decreased by 5.3%, with the index falling from 149.1 in February 2023 to 141.2 in February this year. While pre-owned car prices have been gradually declining year-over-year, they are still 22.6% higher than before the start of the COVID-19 pandemic, when compared to February 2019, when the Index value was 115.2.

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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