The cost of new and used cars in Germany is on the rise, causing concern among car owners who worry they may not be able to afford their vehicles in the future. According to a report by the Deutsche Automobil Treuhand (DAT), a market research firm, about half of car owners in Germany are worried about the increasing prices. The DAT cites high purchase prices, fuel prices, and inflation as the main reasons for the rising costs. In a survey of over 4,600 consumers, 13% of respondents planned to buy a new or used car in 2022 but did not due to the high prices.
The study found that the prices of both new and used cars have significantly increased in recent years. In 2021, the average price of a used car was €15,740, while in 2022 it was €18,800, an increase of 19.4%. The average price of a new car in 2021 was €37,790, and in 2022 it was €42,790, an increase of 13.2%. Bargains were also hard to come by in 2022, with only 23% of used cars sold for under €10,000, compared to 44% in 2019. Similarly, two-thirds of new cars sold in 2022 cost over €35,000, compared to only one-third in 2018.
The rising prices have led to concerns among car owners, with many worried about their ability to afford a car in the future. The study found that the main reasons for not buying a car were the general pressure to save money and the high prices. The DAT report highlights the need for the automotive industry to address the issue of rising prices and find ways to make cars more affordable for consumers.
