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Car market April 2019: used cars more expensive than ever

Car market April 2019
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W o There is shadow, sometimes there is also light. As is currently the case on the car market: while new registrations are currently crunching, things are going great on the used car market. A total of 745,063 owner changes brought the entire used vehicle market a solid plus in April, says the Federal Motor Transport Authority. Compared to the previous month, 3.1 percent more vehicles changed hands, compared to April 2018 it was 1.3 percent. For passenger cars there were 634,147 changes in ownership - an increase of 1.7 percent compared to March 2019 and 2.4 percent compared to April 2018.

The downtimes of used cars are getting shorter

Even those The trend is clearly upwards: between January and April, 2,763,076 used vehicles were sold in Germany - 0.9 percent more than in the same period of the previous year. Cars accounted for 2,416,757 transfers of ownership - 0.5 percent more than in the first four months of 2018.

What the authorities are observing, the large used car portals confirm with more detailed figures. According to Mobile.de, used cars sold in April were on average only 96 days at the seller - 3.5 percent shorter than in March and 3.7 percent shorter than in the previous year. Small cars were particularly popular; they only waited 88 days for a buyer. Luxury cars, on the other hand, only found buyers after an average of 114.5 days, followed by sports cars after 107 days. 'For the first time in exactly three years, the number of days idle has decreased year-on-year,' explains Daniel Breves, Commercial Director at Mobile.de.

Mileage is falling, prices are rising

That has an effect on other statistics. With an average of 41 months, the cars on offer are always younger - an average age that is 3.2 percent lower than in the previous year. Not surprisingly, at 31 months, SUVs are the youngest; In April 2019 they were eight percent younger than in April 2018. The mileage of used vehicles is also falling accordingly. The average mileage last month was 51,264, a whopping 5.4 percent lower than in April 2018. Here, too, a trend is confirmed: According to Mobile.de, mileage has been falling continuously since the beginning of 2018.

The problem for the buyers: The increasing demand as well as the younger cars are causing prices to rise. “For the first time ever, the average asking price for used cars exceeds the 24,000 euro mark,” says Breves. Advertisement prices averaging EUR 24,093 not only mean an increase of 3.7 percent over the previous year, but also a record high. EspeciallySports cars have become more expensive compared to the previous year (plus 8.6 percent). But also the upper middle class (plus 5.7 percent) and small cars (plus 5.6 percent) have noticeably increased in price.

Very young and very old are increasing in price

Also competitors Autoscout24 reports on record prices. However, the Munich residents come to significantly lower average prices than the Berliners, which is due to differences in the database and calculation methodology. If you believe the AutoScout24 Used Car Price Index (AGPI), then an average used car in February of this year cost 20,771 euros; makes 1.6 percent or 330 euros plus compared to January. The difference is enormous compared to February 2018, when an average used car at Autoscout cost 20,059 euros. The plus here is therefore 3.5 percent.

AutoScout24
Rising curve: Autoscout24 reports used car prices at record level.

'Overall, younger vehicles in particular have become more expensive,' says Jochen Kurz, Director Product at AutoScout24. Classic cars at least 30 years old made a particularly big step forward with a price jump of two percent. But directly behind, with an increase of 1.3 percent each, are young used vehicles aged up to one year and between one and three years of age.

Looking at vehicle classes, prices in the luxury class (plus 2 .4 percent) and for vans (plus 2.1 percent). But all other segments also benefited from the positive overall development, which is expressed both in a larger range (plus 5.7 to 8.5 percent, depending on the vehicle class) and in the sharp rise in page views. This statistic, called “popularity” by Autoscout, increased by a double-digit percentage for small cars, compact cars and vans.

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