Launch of the AUTO1 Group Price Index shows used car price stabilization after record decline
Berlin, 4. April 2023
• AUTO1 Group Price Index is the first and only European used car price index based on wholesale transaction data
• Used car prices reached an all-time high in Q3 2022, the index rose to 171.6 in July 2022, which was 25.7% higher than July of the previous year
• In Q4 2022, a record decline of 11.8% in wholesale prices followed
• In the first quarter of 2023, prices were more stable, with an increase of 1% from the January index value of 149.3 to 150.9 in March
Berlin, April 4, 2023 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today launched the AUTO1 Group Price Index, The European Used Car Price Report. The Group’s new index gives insights into the monthly evolution of wholesale used car sale prices across Europe since 2015 based on around 3.6 million used car transactions.
“As the European market leader with a market share of 2.5%, we offer the largest selection of used cars in all price categories in more than 30 European countries. In 2022 alone, AUTO1 Group sold more than 649,000 cars via our websites and apps. By leveraging our transaction data since the company's foundation, we have developed a pioneering index that measures pricing trends in the wholesale used car market and gives insights to the whole industry,” says Moritz Lück, SVP Sales & Operations at AUTO1 Group.
Record wholesale used car price decline in Q4 2022
After substantial increases in used car prices for several quarters in a row starting from April 2021, wholesale prices peaked in July 2022 with an index value of 171.6. Used car prices increased throughout 2021 and 2022 due to various key drivers such as the Covid-19 pandemic, the scarcity of semiconductors, and hence a shortage and long delivery times for new cars, as well as general inflationary pressure.
Following the peak in July 2022, prices dropped. This was the steepest decrease since the start of the index in 2015, with wholesale prices decreasing by 11.8% throughout Q4, from the peak index value of 171.6 in July 2022 to the year-end value of 151.3 in December 2022.
Stabilization of used car prices in Q1 2023
After the steep price decline in Q4 2022, AUTO1 Group is now observing a more stable price environment of wholesale used car prices in Q1 2023: The AUTO1 Group Price Index decreased from January to February by 0.1%, with the index moving from 149.3 to 149.1. With the most recent numbers, the AUTO1 Group Price Index rose from 149.1 in February to 150.9 in March, an increase of 1.2%. Overall, prices slightly increased by 1% from January to March.
The AUTO1 Group Price Index will be published on a monthly basis going forward and highlight the latest price developments in the European used car market.
Download the graph here
Download the table here
About AUTO1 Group
Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars online. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a car online. AUTO1 Group is operating in over 30 countries and generated a revenue of EUR 6.5 billion in 2022. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884.
For more information please visit www.auto1-group.com
About the AUTO1 Group Price Index - The European Used Car Price Report
The AUTO1 Group Price Index shows the monthly evolution of used car prices across Europe. By analyzing AUTO1 Group’s database of around 3.6 million used car transactions Europe-wide, AUTO1 Group has developed a pioneering index to improve data transparency in the used car market and give insights into wholesale prices. The starting point of the AUTO1 Group Price Index is January 2015 with a reference value of 100. The AUTO1 Group Price Index is published on a monthly basis. Please find the methodology here.
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