The corona pandemic is shaking some economic principles – including on the used car market. Many popular models now have a higher sales value than at the beginning of 2020 – although they are now two years older and have more kilometers on the clock, a comparison by the online platform willhaben.at showed. For example, a Skoda Octavia is worth almost 2,000 euros more today than it was two years ago when the vehicle is used regularly, and a Ford Focus is worth almost 1,500 euros.
The trigger for this unusual development is, on the one hand, the lack of chips, which has led to a bottleneck in the availability of new cars. That made many prospective buyers look for a used car. In addition, there is a stronger desire for one’s own vehicle, fueled by the pandemic, which is driving up demand.
The online platform willhaben analyzed used cars registered for the first time in 2017 and how prices changed between January 2020 and January 2022. There were now “particularly advantageous” conditions for sellers of used cars. A Ford Focus built in 2017 will be 11.3 percent more expensive this year than two years ago, even if it is two years older and has around 20,000 km more on the odometer. For a used Audi A3 with 30,000 km more mileage, there was a price increase of 3.2 percent (a good 650 euros). Where prices have fallen, the decline has been exceptionally moderate.