Just as new car sales are declining, so is the used car market, according to statistics from Cebia and AAA Auto. In an effort to make at least some profit, many retailers were still offering discounts.
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According to companies, prices are expected to go up in the coming months. The decline in the production of new cars, the unfavorable exchange rate of the koruna for car imports and the lower willingness of people to change cars more often should be reflected in a smaller supply of used cars, especially young used cars.
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“Getting a quality used car may prove to be a more difficult task than last year. Due to the exchange rate of the koruna, cheaper and lower-quality cars will be imported to the Czech Republic, on which it will be possible to earn more. Those who plan to buy a used car in the coming months should look for it as soon as possible, “said Cebie director Martin Pajer.
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According to the AAA Auto Group, the number of new used cars remained almost unchanged in the first half of the year. However, their price increased by 30 thousand crowns compared to last year to an average of 439 thousand.
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Coronavir-related measures have significantly affected the passenger car market this year. Imports of used cars fell by almost 23 percent year on year in the first half of the year. Thus, 69,026 used vehicles were imported to the Czech Republic, which was the least since 2014.
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The share of imported cars older than ten years increased by two percentage points to 53%. However, even a ten- or eleven-year-old car reduces the average age of the vehicle fleet in the Czech Republic, which is currently at 15 years.
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The average sales time of a used car increased by 22 days to 106 days year-on-year. As a result, the share of cars with failed technical inspections rose by three percentage points to 21%.
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With the import of older cars and a larger share of foreign used cars on the market, which are older than Czech used cars, the average number of mileage sold for cars sold also increased by eight percent to 166,000 in the first half of the year. However, according to Pajer, the actual mileage will be higher, because in about a third of the cars, someone manipulated the odometer.
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