Drastic inflation in used cars. In Britain, new cars are already more expensive than new ones

For those who buy a used car in Britain, they may pay more for it than for a new car. Dealers have such a problem finding cars that 17 percent of cars less than a year old are now more expensive than their new, but now unavailable, equivalents.

This was stated by the company Auto Trader, which sells cars via the Internet. At the beginning of the year, four percent of used cars were more expensive.

Used car buyers in Britain spent about a quarter more last week buying a used car than in the same period last year. “Extremely strong” demand clashes with low availability. Cars from bazaars are disappearing at a record rate, selling on average in just 23 days.

“We do not expect price growth to slow down in the foreseeable future,” Richard Walker told Auto Trader. According to him, the British have enough savings, they want to buy cars and they also had to postpone their purchase during the lockdown. The price is growing most significantly in popular cars such as the Ford Focus or Ford Kuga.

Carmakers are still facing a global shortage of chips, which in the third quarter, worsened the pandemic situation in Southeast Asia. Car sales in Europe are likely to fall below the level of last year’s decline, when supplies were constrained by the covidu-19 pandemic.

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