Used car prices rise to new record in December

The average price for a used car rose to a new record high in December. According to the online car platform Autoscout24, the price was 25,125 euros on average. That is 1.7 percent more than in November and 16 percent higher than last year.

Autoscout24 had earlier said that if the price rises were to continue, the price level of 25,000 would be reached at the end of the year. Automotive branch organization BOVAG also said it observed the continued rising prices for second-hand cars.

The demand for used cars is much bigger than the supply. Furthermore, the sales of new vehicles were under pressure last year due to a worldwide shortage of computer chips compounded with delivery problems.

As a result, there was a decline in the number of used cars put on offer. This contributed to rising prices.

According to Autoscout24, the prices for used cars have also increased in other European countries. The platform has over 202,000 passenger cars and trucks for sale. The website claims to have the most extensive supply of vehicles listed in the Netherlands.