First, if you look at EVs, they are a lot more expensive than your average diesel car. “There are two reasons why this is the case. Meanwhile, remarketers must play the waiting game: “Even if, miraculously, we would now suddenly have the same volume of new cars as in 2019, it would still take an entire year for the first ‘nearly new’ used cars to come onto the market and have an impact on prices.” Increasingly unaffordableīut whatever the eventual price level for RVs, new car prices remain stubbornly high, and increasingly unaffordable for a growing slice of consumers. “Only if we assume there won’t be any other crises of similar size and impact can we try to predict how Residual Values (RVs) will evolve in the near future – notably, with a slow recovery from 2023 to 2025, when we should be back at pre-pandemic price levels for used cars.” Except that we don’t know when this movement will stop, and what the ‘new normal’ will be.” Other crises compounding the problem Now, we see used vehicle prices across Europe slowly dropping back to normal. About four years ago, we had no idea of the various major shocks that would follow: pandemic, supply chain crisis, war.Įmmanuel Labi, CEO of Paris-based car valuation specialist Autobiz, puts it this way: “2022 was a special year, with low stocks and high prices. When will we know if we’ve hit a ‘new normal’? It’s complicated.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |