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Used cars pricier due to supply chain bottlenecks


© Keystone / Christian Beutler

The price of used cars in Switzerland has risen by 28% since 2020. 

This content was published on October 18, 2022 – 10:20

Keystone-SDA/ac

The reason for this increase is “on the one hand, the longer waiting times for new cars and, on the other hand, the fewer trade-in offers”, online comparison service Comparis said in a statement on Tuesday.

The biggest increase is in the price of electric cars. The price of used electric cars has increased by 50% and the price of hybrid cars by 26%. At the same time, the supply of second-hand cars has fallen by 29%, Comparis said. It pointed to bottlenecks in the supply of new cars due to the Covid-19 pandemic and the war in Ukraine.

In the first quarter of 2020, the average price for a used car was CHF23,161 ($23,301), while in the third quarter of 2022 it was CHF29,550, according to the Comparis analysis. The price of second-hand electric cars rose from CHF34,681 to CHF51,878 francs in the same period.

The current trend is clearly in favour of the electric car, says the online comparison service. “Today, most manufacturers offer at least one electric model. The market for used electric cars will grow significantly in the coming years”.

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