Used cars: steep rise in prices since the pandemic
The price of used cars has risen sharply since before the pandemic. Electric cars in particular have become considerably more expensive. This is revealed by a recent Comparis analysis of used car price trends.
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1. Used cars over a quarter more expensive
Prices for used cars have risen by 28% since the start of the coronavirus pandemic. In the first quarter of 2020, prices averaged 23,161 francs. In the third quarter of 2022, a used car cost an average of 29,550 francs.
Comparis analysis of used car prices
Comparis has analyzed how prices of used cars have changed since the start of the coronavirus pandemic. The analysis is based on the ads placed on the largest online marketplace for new and used cars in Switzerland. The average prices of all used cars advertised on comparis.ch in the first quarter of 2020 were compared with the average prices in the third quarter of 2022.
2. Electric cars see biggest price increase
With a price increase of 50%, fully electric cars recorded the biggest leap since the pre-pandemic period: 34,681 francs in the first quarter of 2020 compared with 51,878 francs in the third quarter of 2022. This rise is mainly due to the rapidly growing range of models in the e-car market. In 2019, ads on comparis.ch included 25 manufacturers of e-cars. In the current year, this number has risen to 54.
A similar trend can be observed for hybrid vehicles. The number of models has more than doubled in over two years (increase of 118%). During this time, prices for all hybrid models rose by 26%.
3. Significant decline in the supply of diesel vehicles
Prices for petrol and diesel vehicles have also risen (by 18% and 22% respectively). The supply of diesel vehicles recorded a significant drop of 39%. The decrease was 8% for petrol cars.
"Many manufacturers are looking to switch to electric vehicles in the future. It is therefore no wonder that the supply of petrol and diesel-powered vehicles is steadily waning."
Andrea Auer, Comparis mobility expert
4. Supply bottlenecks for new cars
According to Comparis mobility expert Andrea Auer, the reason for the general price increase lies in supply bottlenecks for new cars: "Coronavirus and war-related supply bottlenecks for new cars have pushed prices up on the used car market," says Auer.
"Firstly, as the pandemic interrupted supply chains, the waiting time for new cars increased, thereby boosting demand for second-hand cars. Secondly, with fewer people able to buy brand new cars, fewer used cars entered the market."
Andrea Auer, Comparis mobility expert
5. The results at a glance
