Prices of Australian Used
Cars Have Spiked During
COVID - Here's Why &
How Much
The price of used cars in Australia recently hit an all-time high and
is still soaring - not good news if you're in the market for a new car
for yourself or your business.
Most Australians are opting
for used cars rather than new
cars.
A combination of global production shortages and people opting for private
transport, rather than catching public transport, is fueling the demand for new
cars and used cars and driving up prices in the process!
The shortage of new car stock
has also increased wait times.
Some buyers have waited as long as eight months for
their new cars to arrive.
According to Jame Voortman,
chief executive of the Australian
Automotive Dealers Association,
"This is a global problem.
It's affecting almost every brand in every market in the world."
New and Used Car Buyers Feeling The Pinch
The limited supply of new cars is
also contributing to the hike in
used car prices.
Some people interested in buying new cars haven't been
able to due to short supply or a long waiting period.
In some instances, some used
cars are selling for more than
they sold for brand new.
The price of four-wheel drives has gone up because the
international travel restrictions have prompted people to explore
Australia instead.
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Whether you're in the market for a
new or used car.
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