Their price jumped by 14 percent

1.2 percent less used cars were sold in Serbia: their price jumped by 14 percent

Although the average prices of used cars are on average 14% higher in the first six months of 2024 compared to the same period last year, the used car market is at almost the same level. Namely, the number of used imported vehicles sold from January to the end of June this year is only 1.2% lower than in 2023, according to the website’s analysis. Used cars.

Also, a survey conducted among more than 6,000 website visitors showed that the most important factor for buyers when choosing a car is the price, and that in most cases they are ready to allocate from 3,000 to 10,000 euros for the purchase.

The Used Cars survey once again included sales results in the first six months of 2024, trends in the average prices of used cars advertised on the site, as well as customer interest in brands, models, most popular years and fuel.

The data collected in cooperation with the “CUBE team” showed that the sale of imported used cars in in the first six months of this year, it was only 726 vehicles smaller compared to the first semi-decade in 2023, which, as we mentioned, is a drop of only 1.2%.

As a reminder, if you were to compare six-month cut in 2023 compared to 2022, the drop in sales of imported used cars amounted to 5.6%.

Serbs are most interested in used Volkswagen and Audi cars

Prices no longer increase from month to month

These results are particularly interesting when viewed through the lens of the average prices of used vehicles advertised on the Used Cars website. Namely, if you compare the average prices from the first half of this year with the same period last year, an average growth of 14% is noticeable. First radio, in June of last year, the average price of all advertised used vehicles was 8,894 euros, and in June of this year the price reached 9,864 euros, which is an increase of 11% (more than 66,000 passenger cars are currently advertised on the Used Cars website).

Despite the fact that the prices of used cars are higher compared to last year, one significant change is noticeable. While in the previous few years the growth of the average prices of used cars was continuous, that is, from month to month, in the first half of this year, this was not the case. During February, March and April, the average prices of advertised used cars were in decline, but during May and June, a slight increase began again. However, the average prices in June are still lower compared to January this year by 1.3%. Whether this trend will continue remains to be seen.

What kind of engines do our second-hand buyers like?

What was bought in the first half of the year?

Buyers of used cars are still mostly interested in used cars with diesel engines. Of the 63,795 used cars that were registered for the first time in the first half of the year, as many as 40,781 are diesels.

There are absolutely no changes when it comes to interest in models and brands. Three Volkswagen models, Golf, Passat and Polo are traditionally at the top of the list, and this time they are followed by Opel Astra and Audi A4 in fourth and fifth place. When it comes to manufacturers, apart from Volkswagen, Audi, Opel, Peugeot and Renault are in the top five on the best-selling list.

What is slowly changing is the interest of customers when it comes to the year of production.

In the first half of the year the best-selling cars are those produced between 2008 and 2012while last year, for example, more used cars were bought between 2007 and 2010. The fact is, however, that in both cases we are talking about cars that are older than 10 years and that they make up over 65% of all used cars registered for the first time in Serbia from January to the end of June this year.

Precisely for this reason, the website Polovni automobili investigated the average prices of used cars advertised on the portal between 11 and 15 years old. Based on these data as well, a slight drop in prices is noticeable, but they are still much higher than in the first half of 2023.

What are the expectations of customers?

That’s why we’re doing a survey which was attended by about 6,000 visitors to the Used Cars website asked potential buyers what their interests are and how much money they are willing to spend on buying a used car.

More than 50% of survey participants stated that they were ready for a used car to pay between 3,000 and 10,000 euros.while only 10% of respondents indicated that they wanted to invest over 15,000 euros.

The answers to the question which are the most important factors when choosing a used car are interesting. As expected, slightly less than a third of the survey participants mentioned the price.

Three parameters have almost the same percentage, namely: vehicle age, service history and investment after purchase. Interestingly, equipment, but mileage, were listed as the least important factors.

And finally, most of 6,000 survey participants indicated that they plan to buy a used car in the second half of the yearwhich inspires hope that it will stop the now multi-year trend of declining sales of used vehicles on an annual basis.

Buyers also expect that the offer of used cars will be better, or at least the same as in the first six months of 2024, and more than 75% of survey participants plan to pay for their new pet in cash, according to the survey of the website Polovi automobili.

Source: BIZLife

Photo: Pixabay/Freepik