Car prices for used vehicles: Decrease registered in August due to lighter dampening effect
The Auto1 Group Price Index, a key indicator for the development of the European used car market, has shown a positive trend for the year so far in Germany. Since January, the overall used car prices in Germany have been on an upward trajectory, with a slight stability observed in August.
The Auto1 Group Price Index, calculated by the Auto1 Group itself, is based on millions of vehicle transactions from the company's dealer network. The index serves as a measure to track the value of used car prices in Germany.
In January 2021, the Auto1 Group Price Index stood at 135.2 points. This figure rose to 140.9 points in August 2021, only to fall slightly to 140.9 points in August 2022. The used car prices in Germany, as per the Auto1 Group Price Index, fell from 141.9 points in July. However, the stability in August contrasts the decreasing trend observed in July, suggesting a potential plateau in the used car market's growth for the remainder of the year.
The stability in used car prices in October, as per the GW-TRENDS Used Cars, could be a sign of market normalization after the initial positive trend observed in the year. Compared to August 2024 last year, the used car prices in Germany have increased by 2.6%. Despite the stability in October, used car prices are expected to remain stable, based on the pattern observed in August.
The stability in used car prices in both August and October, according to GW-TRENDS Auto1 Group and GW-TRENDS Used Cars, may indicate a slowdown in market growth. Since January, the used car prices in Germany, as indicated by the Auto1 Group Price Index, have increased by 4.2%. However, compared to August 2021, the used car prices in August 2022 remained stable.
The used car market in Germany, as indicated by these indices, continues to show growth, albeit at a slower pace in recent months. This trend is likely to continue as we move towards the end of the year, with used car prices expected to remain stable.
