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Used car availability rates in Europe are declining

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Used car availability rates in Europe are declining

The availability of used cars in Europe is declining significantly, as last month it was 17% lower than in January 2021. The shortage of semiconductors, which continues to plague the car industry, still keeps factory production low, resulting in a large portion citizens to turn to the used car market.

In the absence of new cars, many fleets are being hired to extend their contracts. Rental companies now even buy used cars instead of selling those that have already come full circle. The problems of used car dealers have worsened after the new wave of the pandemic from the increase of the Omicron variant. On the one hand there is not a large buying public and on the other hand there are not many used cars available. This has the effect of creating a balance with the prices of used cars remaining at the same level.

However, in 2021 there was a large percentage of sales of used cars, with total online sales of used cars to increase by 9% in 2020. BEVs are attracting the greatest interest of those looking to buy a used car. Large price increases, according to INDICATA data managed by the market information and stock management information software of used vehicles, occurred in Great Britain (32.6%), Poland (20.9%), Spain (19.9). %) and in Germany (15.2%). In Greece, small cars are now sold for 500 euros more than last year, with this amount rising considerably if they are larger cars.

The best-selling BEVs in Europe are the Renault Zoe, the Audi e-Tron and the BMW i3, while the top three PHEV sellers are Toyota: C-HR, Yaris and Corolla. The VW Golf remains the second-best-selling used car in Europe, followed by the Renault Clio and the VW Polo.

Source: ΑΠΕ-ΜΠΕ

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