The AUTO1 Group Price Index points to a slight decline in used car prices in May 2024, decreasing from 138.0 in April to 137.9 in May 2024, a decrease of just 0.1%. The annual downward trend continues, with used car prices falling 7% from May 2023 (148.3) to May this year (137.9). Since the beginning of the year, the index has changed from 142.0 in January to 137.9 in May, which reflects a decrease of 2.9%.
Used car prices are still 16.4% higher than before the COVID pandemic, as measured in May 2019, when the index stood at 118.5.
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And although the reasons for these phenomena are different, in Ukraine there is also a decrease in prices on the car market in general, but primarily on the domestic market, and, unlike the Auto1 index, not in wholesale sales. However, prices for vehicles imported from European countries also remain stable, as their decline is restrained by the "entry price" paid for cars in Europe.
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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