A confluence of global challenges strained supply and boosted demand for used vehicles from 2020 to 2022. Since then, inflation has nudged down consumers’ purchasing power in many regions, pulling downward pressure on demand, senior partners Ben Ellencweig and Philipp Espel and colleagues explain. As a result, used-car prices appear to have stabilized, dropping from a peak last year.
Image description:
A pair of indexed line graph display the change in EU and US used-car pricing by quarter. Both of the indexes were set to 100 in Q1 2020. In the US, the index peaked at 125 in Q1 2022, and was at about 112 in the latest data from 2023. In the EU, the index peaked at 117 in Q4 2022, and was at about 114 in the latest data from 2023.
Footnote: Data are based on prices of online used-car transactions in the EU and US from Q1 2022 to Q3 2023.
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To read the article, see “Data and analytics in the driver’s seat of the used-car market,” August 30, 2023.