Cheaper used cars in 2024, a good prospect.
In recent years, prices for a new car and therefore also used cars have risen sharply. The inflation of recent years was clearly noticeable. If you purchased a popular used car years ago, for example a Toyota Yaris, the depreciation is minimal. Because it is precisely these types of affordable used cars that have become more expensive.
Cheaper used cars in 2024
The inflation madness is behind us. And although cars have become more expensive, partly due to another rising BPM, there is light at the end of the tunnel for the used car market. In fact, in 2024 you can start shopping for cheaper used cars. The AUTO1 Group expects this based on a price index analysis.
In 2023 there was already a slight decrease of 1.6% when it comes to used car prices. However, prices were still 25% higher in December 2023 compared to December 2019. This year, a new decline would be the reality, resulting in cheaper used cars in 2024.
A majority of European dealers (61.1%) think that prices will fall further. A quarter (25.9%) expect prices to remain stable and a minority (13%) expect a price increase. The AUTO1 Group surveyed European car dealers within its own network. 316 Dutch car companies participated in the study.
Dutch car companies
The expectation that you will be able to shop for cheaper used cars in 2024 mainly comes from Germany (64.8%) and Italy (72.2%). The French (52.6%) and Dutch car companies (51.9%) react more conservatively.
In any case, the sentiment among most car companies is good news for anyone who wants to buy a used car this year. After a number of pricey years where used cars became more expensive or barely cheaper, there is finally some air in the kettle. The latter is not a proverb. I made it up myself.
This article Hooray, used cars more affordable in 2024 first appeared on Autoblog.nl.
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