After two years of rapid increases, used car prices have finally fallen by an average of about three percent since January. They’ll likely downshift even further, experts say. The “Krone” knows the reasons and the trends.
At this point, two years ago, car prices went into overdrive and rose dramatically. Instead of an average of 25,500 euros, car buyers had to pay more than 3,000 euros more for a used car in October, AutoScout24 determined for the ‘Krone’. This level remained virtually the same until January. But now the trend is reversing, says Nikolaus Menches, Austrian head of AutoScout24: “We see a continued and encouraging consolidation of the prices market.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
