Used car prices 37pc above pre-COVID highs A global microchip shortage has cut the supply of new vehicles, fuelling demand for used cars as Australia’s economy recovers.
Motoring by Lachlan Moffet Gray
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Subscriber only Used vehicle prices continued a relentless path higher in the first quarter of the year as Australia s strong economic recovery, combined with new vehicle supply constraints, pushed the cost of a preloved car 37 per cent above pre-pandemic highs. A report by Moody s Analytics senior economist Michael Brisson shows that the average price of a second hand car lifted five per cent in the three months to March - the slowest quarterly increase in the past year, but a rate of growth above any quarterly increase in the decade prior.
Used car prices 37pc above pre-COVID highs
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Used car prices 37pc above pre-COVID highs
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