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The average price of a used car has fallen by more than $2 million.



By segment, sedans saw the least decline in sales of used cars, followed by hatchbacks, SUVs, and trucks. Some of the most popular cars include Mazda 3, Suzuki his Swift and Audi A3.

According to a Chileautos report, Median used car prices drop more than $2 million in the segment where it is most prominent.

The recession in recent months has led to a 22% decline in new car sales in the first two months of this year compared to the same period last year.and Used car purchases fell 19.1% over the same period the date 152,229 used cars were transferred, compared to 188,243 sold in January and February 2022.

One of the consequences of this decline is the fall in used car prices. according to Chileautos, reached 13% last year, Over $2 million.

In February 2022, the average used car price reached $15,298,681 and is now $13,235,200.

used car prices fall

Decomposing the loss by segments yields Sedans saw the least decline, followed by hatchbacks, SUVs and trucks.

According to Chileautos, the most in-demand vehicles are SUVs and the most in-demand models are Toyota Rav4, Mazda CX-5, Ford Explorer.

For tracks, the ranking continues Ford F-150 ,continue Toyota Hilux and Chevrolet Silverado.

Finally, the top three passenger cars are Mazda 3, Suzuki Swift, Audi A3.

According to Caroline Klee, Marketing Manager at Latam Chileautos-Carsales, “Over the next few months, Used car prices will continue to fall and seek normalization.”

However, an executive said, “We expect a downward trend, It will be very difficult for used car prices to reach pre-pandemic levels This is largely due to the new economic scenario of continued double-digit inflation year-over-year. On the other hand, new car prices are still very high, so used car prices are not so low. ”

Source: Biobiochile

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