The AUTO1 Group Price Index, the European price index for used cars, shows that prices will have fallen by 3.3% in 2024. Yet this is a relative figure, as they are still 17.1% higher than before the COVID pandemic. But that cannot dampen the dealers’ optimism…
From an index value of 142.0 in January to 137.3 in December, that is how much the decrease is. On a monthly basis, used car prices remained stable in December 2024, with the index evolving slightly from 137.2 in November to 137.3 in December (+0.07%). On an annual basis, used car prices fell 6.5% between December 2023 and December 2024. Despite these declines, used car prices remain 17.1% higher than before the COVID pandemic, as measured in December 2019 when the index was 117 was .3. The starting point of the AUTO1 Group Price Index is January 2015 with a reference value of 100.
Rising optimism among used car dealers as price levels fall
According to the results of a recent AUTO1.com survey of European partner dealers, only a minority (11.0%) of car dealers say current prices have a very negative impact on their business, which is 27 percentage points less compared to a year past. 30.7% of dealers see current price levels as very positive for their business, compared to 7.6% a year ago, which is 23.1 percentage points more. This improved positive sentiment is led by France, where most dealers (39.0%) say used car prices have a positive impact, followed by Spain (35.0%) and Poland (34.5%). In line with last year’s results (54.4% of respondents), the majority (58.3%) of dealers in the latest AUTO1.com survey indicate that current price levels are neutral for their business and do not influence their activities.
“During last year’s survey, used car dealers across Europe predicted a decline in used car prices by 2024”, says Paul-Henri Lenaerts, Director AUTO1.com Belgium. Reflecting on the current positive sentiment around price levels, he continues: “We expect lower prices will increase affordability, ultimately driving more used car transactions into the market. The fact that almost 90% of our European partner dealers indicate that current price levels have no impact or contribute positively to their sales underlines the importance of affordability in the used car market.”
Used car dealers expect continued price declines through 2025
More than a third (34.6%) of survey participants believe used car prices will remain stable in 2025, compared to 25.9% the year before. And more than 21% of dealers think prices will rise this year (compared to 13% last year). Nearly half of European used car dealers (44.0%) expect used car prices to fall by 2025, down 12.9 percentage points compared to last year.
“We share our partners’ optimism and remain committed to their success. Our teams are more motivated than ever to develop innovative solutions that will help our partner dealers buy and sell cars even more efficiently and easily in the coming year”, says Paul-Henri Lenaerts, Director AUTO1.com Belgium.
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