According to the annual study of the automobile market in 2023, carried out by Standvirtual, used electric cars revealed a stabilization in prices from July 2023, standing at around 38,500 thousand euros
Standvirtual, the automotive market portal, has just released its annual study on the evolution of vehicle prices over the last three years.
Analyzing the used vehicle market, it appears that average prices have been increasing progressively since July 2021, when they stood at around 19,500 thousand euros. In December 2023, the average price was around 24,500 thousand euros, which reveals an increase of 4.3% compared to December 2022 and a further 16.7% compared to December 2021.
However, average prices for used vehicles have shown stability since September 2023 to date. This is related to the increase in the supply of vehicles and the decrease in consumer demand.
In the used electric car market, it is possible to observe a sharp decline from February 2023 onwards and even a stabilization from July onwards in the price of used electric cars, standing at around 38,500 thousand euros. This price reduction has meant that electrified vehicles up to one year old are now, at roughly the same price, as cars of the same type that are one to two years old.
The study also compares the evolution of prices for the Tesla Model 3 and BMW 320 diesel models, aged less than four years and with an average of 35,000 to 60,000 kilometers, noting that the decrease for the BMW 320 is more gradual, reaching around of 40 thousand euros in January 2024 compared to the same month in 2022 (around 46 thousand euros). On the other hand, the Tesla Model 3 presents a significant drop in price, reaching around 20 thousand euros in January 2024 compared to the same period in 2022 (approximately 51 thousand euros). This evolution is related to the price adjustment in the new market, which subsequently influences the values of used cars.
“The automotive sector shows a considerable recovery in new cars, which influences the market as a whole. After challenging times, marked by a shortage of vehicles during the pandemic period, we saw a tendency for prices to stabilize from the last quarter of 2023 on used vehicles. The used tram market has gained greater importance in recent years and the month of October of the previous year even broke records with 2,395 registered vehicles”, explained Nuno Castel-Branco, general director of Standvirtual.
“However, according to our study we can see that electric cars tend to depreciate more quickly than cars with combustion engines, a consequence of the entry of new manufacturers, mostly from China, with very competitive prices, but also due to the constant technological leaps and without forgetting the uncertainty and distrust that some consumers have regarding the status of batteries”, he added.
The most expensive segment continues to be the coupé. In January 2021, the price was around 30,000 euros, increasing in January 2023 to around 33 thousand euros. This is followed by SUVs, which in January 2021 cost around 26 thousand euros, increasing to around 30 thousand euros, and Sedans, whose price in January 2021 was around 25 thousand euros, also increasing in January 2023. , for around 30 thousand euros.
In relation to the most representative models of Standvirtual, with more than 50 thousand kilometers and diesel, there is also a decrease in prices from the last quarter of 2023. In relation to the Mercedes-Benz A 180, from January 2021 to 2024 , it can be seen that prices tended to rise (between 25 thousand euros and 29,700). In the case of the Nissan Qashqai, it rises from 20,300 thousand euros to 22,100 thousand euros, from January 2021 to 2024. The Renault Megane Sport Tourer, from January 2021 to 2024, has also increased its prices (between 18 thousand euros and 21,300 thousand euros). The same happened with the Renault Clio, which from January 2021 to January 2023 saw prices rise from €13,500,000 to €17,100,000.
