Average prices for used cars in Germany 1980-2023
Used car prices in Germany have increased significantly since 2018, though 2023 saw a drop across some sales channel categories. Free trade vehicles recorded a decrease, with figures falling to around 15,700 euros in 2023. Prices of used cars sold through brand trading have always been historically higher.
New and old
Germany is a leader on the global car market, with car brands and production quality of long- standing. Volkswagen, Mercedes, and BMV are among the first of many names that come to mind. Consumers may therefore be motivated to buy new cars by various means of financing, considering it a good investment for the future. Of course, new car prices differ significantly compared to used vehicles, with a new car costing an average of around 42,800 euros in 2022. Prices had grown in recent years, both due to the far-reaching effects of COVID-19 restrictions on industrial production and the energy crisis following the beginning of the Russia-Ukraine war. Drivers looking to buy a car are faced with familiar cost-related decisions regarding whether they buy new or second-hand, but higher fuel prices across the board are an issue facing all vehicle owners.
A market with a future
The German used car market is expected to grow in the coming years, with around 107.4 billion U.S. dollars predicted for 2023. Besides potentially contributing to sustainability and environmental protection goals, selling used cars is a business going beyond Germany’s borders. For example, Poland was Germany’s leading second-hand vehicle market by far when compared to other European countries, with almost 415,800 cars imported in 2022.
