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First the pandemic, then the war in Ukraine, caused an unprecedented rise in used car prices. Last fall, the cost of a used vehicle was on average 28 percent more expensive than at the start of the corona epidemic in early 2020. Now there is a first sign of relief: the average price of newly advertised used cars fell six percent in the first quarter compared to the previous quarter of 2023 – from 30,365 to 28,555 francs. This is demonstrated by an analysis by Comparis.ch, the largest online marketplace for new and used cars in Switzerland.
“The number of new registrations in Switzerland has been increasing again for several months. Delivery challenges for new cars have eased a bit since the fall. This now appears to be having an impact on the used market and slowing the price increase, says Andrea Auer, Comparis mobility expert. According to the Auto Schweiz importers association, around 77,000 new cars were registered in Switzerland in the first four months of 2023. This corresponds to a 10.2 percent market growth compared to the first four months of 2022.
Diesel significantly cheaper
However, price changes in the used market are not the same for all types of drivers. The average cost of diesel vehicles in the first quarter of 2023 is 24,256 francs, 6.8 percent less than in the fourth quarter of 2022. The prices of gasoline engines decreased by 5.8 percent to 26,861 Francs, while the prices of fully electric cars decreased by 4.6 percent to 50,185 Francs. Franc. Comparis found the lowest price changes for hybrid vehicles, with prices averaging CHF 48,578, down just 1.8 percent from the previous quarter.
Despite the negative trend, used car prices are still very high. Compared to the first quarter of 2022, the average price of newly advertised cars in 2023 is 8 percent higher on comparis.ch. Since the outbreak of the corona pandemic, used cars have become 23.9 percent more expensive. In absolute numbers, that’s 5510 francs more that should be put on the counter for a used car.
Electric cars are twice as expensive as petrol cars
Looking at the different types of driving, it is seen that the cost of gasoline engines is 7.1 percent higher, diesel cars 4.8 percent and hybrid vehicles 3.1 percent higher in the first quarter of 2023 compared to the previous year. . The prices of fully electric cars are at a similar level compared to the previous year.
“Even though e-car prices are down from the previous year, an e-car in the second-hand market still costs almost twice as much as a petrol engine. On the one hand, this is because new electric cars are more expensive than comparable internal combustion engines. On the other hand, E-Occasions are younger on average. This leads to a higher price level,” explains Auer.
Source: Blick
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
