German second-hand prices have been stagnant for several months now, so price growth has stalled, but it has remained at a high level, German news agency dpa reports. Does Slovenia follow Germany in this, or is the situation in the market different here? We searched for answers.
We have received many questions in the editorial office, is now the right time to buy a used car, or should we wait a bit before buying used cars, until the prices of used cars come down? In Germany, since the beginning of summer, used car prices have stagnated and are no longer rising.
Gašper Picelj, director of Autopoint, which deals with online car auctions, says the situation in Slovenia is very similar to the situation in Germany. “Prices are no longer growing so fast. They are still at a high level, especially for younger, well-maintained cars with lower mileage. However, the market is definitely showing less demand. Customers are becoming more cautious due to higher interest rates. and inflation, and the associated rise in the cost of living. It has eased the demand for used and new vehicles a bit.”
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Given that information about the lack of chips and the discontinuation of production of new cars began to spread again, according to Piclje, the demand for « young » used cars will certainly remain at a high level in the future. “Things have changed a little recently, electricity prices have risen sharply, but due to the expected recession, the price of oil has risen again, which is also reflected in the prices of petroleum products at gas stations. Accordingly, I think that there will be interest in vehicles. used petrol and diesel cars are larger than electric cars, » He adds.
There is a huge shortage of slightly used vehicles
Picelj doesn’t have good news for anyone who’s willing to wait for the used-car offering to improve. “If we look at the European car market, for the fourth year in a row, it is on average 25% smaller than before, which means that the vehicle fleet is being replenished very slowly. It is likely that the shortage in the used car market will last longer. Buyers Those who will choose to buy a new car, will have access to a large extent to slightly used cars, especially because they are immediately available.”
Rok Florjanc, Head of the Used Car Division of Porsche Inter Auto (PIA), confirmed to zurnal24.si that in Slovenia we can already see a stagnation of prices in the used car market since May of this year, but at a lower level than in Germany. This does not mean that prices will not rise. According to Florjanac, EVs have the greatest potential for price growth among used cars, which are also in great short supply. PIA is also seeing an increase in demand for diesel vehicles. “We are still recording a consistent trend in the demand for diesel vehicles. Currently, there is a significant shortage of newer vehicles, up to one year old (testing, service vehicles from fleets).
The Germans expect that the shortage of used cars on the market will continue until at least 2024. Florjanac’s assessment is the same: « We can expect the same assessment in Slovenia as well. »
finally!
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LGV prices have risen the most
In the online seller of used vehicles with a confirmed history, Doberavto, which operates within AMZS, they did not notice that the prices of used vehicles have decreased in recent months, but on the other hand, they have not increased either. « Obviously, looking at everything, the prices at the beginning of the fall have reached a point where buyers don’t go. And when we look at the ads on our website, we notice that the cars are mainly sold in some form. Either because of the maintenance, the good price or the service history Well arranged and with real miles » They answered our question.
This is what happens with prices
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Good news for used car buyers
In Doberavto, they emphasized that they were very surprised by the prices of new light commercial vehicles, which in some cases achieved exponential growth. “Because these commercial vehicles and supplies are so poor, it is clear that the market can withstand a more than 50% price increase. The price may only go up for well-maintained, regularly maintained vehicles less than four years old. For this segment, the interest on DoberAvto is .si is the largest. »
What vehicles are currently most in short supply in the used car market in Slovenia? At Doberavto.si, they estimated that these are certainly vehicles that are little used on the outside, usually middle and upper class. « To name a few, they are VW aassat, BMW 3 and 5 Series, Audi A4 and A6. »
Great interest in importing electricity
Marco Verlaine, director of Odkrit nakup, which deals with the import of used cars from abroad, agrees that the shortage in the used car market will continue for at least another year, or rather it will depend primarily on whether the problems of the supply chain are resolved. “If the problems are not resolved by the end of 2023, then the shortage of used vehicles can be prolonged,” Verlaine, who sees a slowdown in price growth, says although prices are still rising steadily for many models. “It very much depends on whether or not the availability of the model is poor. This is especially true of electric cars, where waiting times for new cars are enormous. With almost all Tesla models, customers prefer to buy a one-half-year-old car at a similar price being discounted. For a new price (and at the same time they will not be able to use the subsidy). This is so that they can immediately start using the car, and at the same time make savings.” Verlin says customers shopping for 2021 cars also have the ability to get in the car as quickly as possible and start reaping the savings offered by switching to electric vehicles.
Buyer’s Dilemma
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According to Verlaine, what used cars still have potential after price growth? He says these are electric cars. The reason is high fuel prices, and the availability of new, bad prices. « The main problem is the long delivery times and the fact that times are not guaranteed, and they are often extended. Therefore, customers prefer to buy used, even at a higher price than they would pay for a new one. »
Verlaine adds that diesel demand is still the majority, but is decreasing in percentage terms. There are more purchases of cars with a gasoline engine, and cars with an electric motor are on the rise. « If last year we delivered 10 of them in the whole year, then this year we deliver three to five a month. The used car market in Slovenia currently lacks modern electric cars. »
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