Australians are enjoying lower prices for used cars as a growing number of families turn to the second-hand market amid cost-of-living pressures.
Figures published by AutoGrab and the Australian Automotive Dealer Association (AADA) show more than two million used cars were sold nationwide in 2023, up a huge 34.4 per cent.
Prices also fell from peaks seen last March when used cars retained 75.8 per cent of their original value, reaching a low of 67 per cent (an 11.6 per cent decline) by the end of 2023.
The shift is a big turnaround from the pandemic years when used-car prices…
used car sales
Tax Season Should Bring Peak Wholesale Used-Car Values
Tax refund season has begun, which usually results in the annual peak for wholesale used-vehicle values.
Anticipating that demand, dealer business picked up in late February, according to the latest Manheim Used Vehicle Value Index. Manheim says dealers should be aware tax refund/spring selling season for used cars is getting under way.
Averaged out over the entire month of February, wholesale used-vehicle values were virtually flat for the third consecutive month, comparing December 2023, January 2024 and February. Manheim says price stability is welcome, but values were still lower than a year ago.
The Manheim Index for February, which was…
Surge in Used Car Market Prices and SUV Demand | Indian News | India Business News
CHENNAI: When Dilip Singh was looking to sell his seven-year-old SUVs whose odometer had clocked nearly 1 lakh km, he was surprised to find that he managed nearly 70% of the cost of the vehicle.With new car prices soaring over the last few years, the value of used cars has also gone up. In the last two years, the average ticket prices in the used car market has gone up to 6-6.5 lakh from Rs 3-3.5 lakh, said Vinay Sanghi, CEO, CarTrade group “Since new car ticket size has also gone up by around 30%, it’s spilling over to the…