Used cars more expensive in 2022

The economic crisis didn't make it cheaper to buy a used car last year. Quite the opposite!

In 2022, used car prices hit new records. Our customers have been so eager to buy that the price increase for the full year ended at 14.1 percent. When we closed 2022, price levels were the highest ever.

- It may seem contradictory that prices are rising so sharply at the same time as households have lost purchasing power. But the price increase on new cars* has been even greater and this has spilled over into the second-hand market, says Daniel Odsberg, sales manager at Kvdbil.

Reduced waiting times

A total of 1,383,624 cars were sold on the used market in 2022, divided between the car trade, the private market and companies. 189,351 (-13.7%) fewer than in 2021. In the fourth quarter, however, the decline was slightly smaller (-9.0%).

- Behind the decline are mainly the major delivery problems for new cars, as this has meant fewer exchanges. Now waiting times have decreased significantly and we began to see the effects of this in the fourth quarter. In addition, we are facing high comparative figures, both 2020 and 2021 broke sales records, says Daniel Odsberg.

Used electric cars are attractive

Used electric cars have been popular in 2022, with purchases up 78 percent year-on-year. And as the new car market fills up with more cars, this supply is spilling over into the used market.

The prices of used electric cars increased more than average, in 2022 the prices of electric cars rose by 18.7 percent.

Stable market in 2023

We predict that 2023 will be the year when the used electric car will have its real breakthrough. Because even though sales have been strong in 2022, the increase is from low levels. Otherwise, we predict a stable used market in 2023, used cars usually do relatively well in economic downturns.

- In times when the wallet is the deciding factor, more people are drawn to used cars. It comes naturally because the prices are lower and more affordable, says Daniel Odsberg, sales manager at Kvdbil.

Sales statistics for the passenger car market, Q4 2022

* Prices for new cars rose 18.4 percent in 2022.
Source: The Swedish Tax Agency's new car price list

About the compilation
Kvdbil 's statistics on used car purchases in Sweden are obtained from the Swedish Car Register via the statistics company Vroom. The price trend is based on sales at Kvdbil (approximately 30,000 per year) and is measured through the BPI (used car price index) by sister company Bilpriser.se.