Price Index of AUTO1 Group points to a slight increase in used car prices in June 2024, moving from 137.9 in May to 138.2 in June, a moderate increase of 0.2%.
Despite the monthly increase, however, the annual trend continues to show a downward trend, with used car prices falling 9.2% from June 2023 (152.2) to June this year (138.2).
Since the beginning of the year, the index has changed from 142.0 in January to 138.2 in June, reflecting a decline of 2.7%. Used car prices are still 16.6% higher than before the COVID-19 pandemic, measured in June 2019, when the index was 118.7.
„During the first six months of 2024, there is a decline in used car prices. This development is in line with our dealer partners' expectations for this year, according to an online survey we conducted of more than 5,100 dealers late last year, with most saying they expect lower prices in 2024.
It is particularly interesting that diesel cars remain extremely stable in terms of price in the first half of the year “, commented Moritz Luke, Senior Vice President of Sales and Operations at AUTO1 Group.
The AUTO1 price index shows the monthly change in used car prices in Europe. It is determined based on an analysis of more than 3.6 million mileage car sales across Europe. The starting point for this index is January 2015, with a base value of 100 against which all subsequent values are determined.