Price shock – used cars 7600 euros more expensive than before the pandemic

According to the current AutoScout24 used car price index (AGPI), car buyers in Austria have to spend an average of 27,472 euros for a used car. “There is still no end in sight to the price hike. Before the pandemic in August 2019, the second-hand car cost 19,859 euros, which is 7,600 euros less. But even a year ago, in the summer of 2021, the average cost was still 3,700 euros below the current price level,” explains Alexander Vysek, Head of Sales at the online car fair in Austria.

Year-on-year price increases of up to 17 percent
Within the upper-middle class vehicle segment, used car prices rose the most at 17.4 percent; the average price here is currently 31,737 euros. Small cars are especially popular, albeit with a declining supply. Accordingly, prices are up the second strongest at plus 14.3 percent. The Austrians have to keep an average of 15,110 euros ready for the popular little one.

The middle class was offered in August 2022 for 25,731 euros and also rose rapidly by 14 percent year on year, followed by the higher class, which currently costs 63,374 euros. Vans and minibuses are also very popular and are offered for almost 35,000 euros. The only outlier in the price rally is in the sports car category, which recorded the lowest price increase of 2.4 percent.

Prices rise proportionally with age
Even when viewed by age segment, prices rose in double digits year over year. At 10,473 euros, cars between 10 and 20 years old cost about a third more than a year ago. The age group between 5 and 10 years has increased from 16,605 euros to 21,574 euros. But the younger models also rose in price by up to 20 percent. The prices for youngtimers (from 20 years) rose by 25.8 percent, for classic cars (from 30 years) “only” by 14 percent.