Used car prices continue to rise

Households are depressed and a recession is likely just around the corner, but used car prices continue to rise. During the first three months of the year, prices rose by 6.4 percent. The largest increase in a year.

Inflation, high interest rates and increased exports meant that used car prices continued to rise during the first quarter of the year, according to our latest report.

– Anyone who was hoping to find a bargain on a used car this spring will probably be disappointed, says Daniel Odsberg, sales manager Kvdbil .

The fact that more people are now turning to the second-hand market is the most important reason for the price increases, but exports are also having an impact, Odsberg believes. In the past 12 months, almost 120,000 cars have been exported, an increase of 20 percent.

– Inflation and more expensive private leasing have put new cars out of reach for many consumers, and this has increased demand on the second-hand market. Then the weak krona and even higher prices in Europe have made exports shine. I don't think we should expect pressured prices in the future. Anyone who was hoping to find a bargain on a used car this spring will probably be disappointed, says Daniel Odsberg.

Prices for petrol cars have risen the most (+7.3%). On the other hand, prices for electric cars have fallen sharply (-9.2%), including plug-in hybrids (-6.2%).

– When the climate bonus was removed, many believed in a boost for the used segment and perhaps we will see that later, but right now the tougher economy is in focus and that is negative for electric cars, which generally have a higher price tag. Tesla's price cuts may of course also have contributed to the decline, says Odsberg.