Image: Mauritius, edited by Dmitri Broido
Many Germans can no longer afford a new car. But even if you want a used car, you have to dig deep into your pockets. But that could change.
WWhen something is scarce and demand is high, prices rise. This is what car buyers have had to find out since 2021. New cars became more expensive because manufacturers were able to produce fewer cars – the important semiconductors were missing, a long-term consequence of the corona pandemic. As a result, there were hardly any discounts anymore and delivery times extended immensely to many months. People switched to used cars, which were immediately available, but quickly became more expensive because of the rush.
There were also significantly fewer used cars than usual because during the Corona period around 30 percent fewer new cars were registered in the areas from which young used cars emerge after a few years. These are, for example, the cars of car rental companies and company fleets with many leased vehicles.
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